Viatical Meaning in English
word
Definition
Relating to the sale of a life insurance policy by someone with a serious illness in exchange for a lump sum payment, usually less than the policy’s full value, while the person is still alive.
Usage & Nuances
"Viatical" is mainly used in legal, insurance, and financial contexts (“viatical settlement”). Not commonly used in everyday conversation. Don’t confuse with "viaticum" (a religious term) or general travel expenses. Usually refers to advanced life insurance payouts due to terminal illness.
Example Sentences
A viatical settlement allows a terminally ill person to access money from their life insurance.
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She is considering a viatical option to cover her medical expenses.
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A viatical agreement involves selling a life insurance policy before death.
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If someone needs cash fast because of an illness, they might look into viatical settlements.
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Many people have never heard of viatical arrangements until they face a serious health crisis.
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Some companies specialize in buying viatical policies from those with terminal illnesses.
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