Viatical settlement
noun
1.
the purchase by a charity of a life assurance policy owned by a person with only a short time to live, to enable that person to use the proceeds during his or her lifetime See also death futures
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noun a term for a life insurance policy of a terminally ill person that is bought by a third party as an investment, which gives financial benefits to the ill person while alive and the investor upon the death; also called death futures
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noun, plural viatica [vahy-at-i-kuh, vee-] /vaɪˈæt ɪ kə, vi-/ (Show IPA), viaticums. 1. Ecclesiastical. the Eucharist or Communion as given to a person dying or in danger of death. 2. (among the ancient Romans) a provision or allowance for traveling, originally of transportation and supplies, later of money, made to officials on public missions. 3. […]
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