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| is the sale of a life insurance policy by a terminally ill insured to another party, typically to investors or investor groups who hope to profit by the insured's early death |
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| a viatical settlement is an alternative to the |
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| accelerated death benefit rider |
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| in a viatical settlement, the insured generally must have a life expectancy of |
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| in a viatical settlement, the policy is sold at a substantial |
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| in a viatical settlement, the buyer continues to pay the |
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| a financial transaction by which a policy owner who no longer needs or wants to keep a life insurance policy sells the policy to a third party for more than its cash value |
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| a life settlement is a for of |
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| in a life settlement, the purchaser becomes the new beneficiary and is responsible for all subsequent |
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| viatical settlements and life settlements have a downside b/c the policies are sold to parties who do not have an insurable interest in the insured's life but instead acquire a financial interest in the insured's |
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| since viatical settlement and life settlements give the purchaser a financial interest in the insured's early death, there may be an incentive to |
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| regulation of viatical and life settlements by state insurance departments may be |
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