InsuranceKey employee Direct loss Boiler and machinery insurance Fidelity bond Additional living expenses Premature death
Viatical settlement
When an unrelated third party buys a life insurance policy from a terminally ill individual, it is known as a viatical settlement. This allows the policy owner to receive a lump sum payment while they are still alive, providing financial relief for medical expenses. In return, the third party becomes the new beneficiary and receives the payout upon the death of the original policy owner. This practice has sparked ethical debates in the financial industry due to the potential exploitation of vulnerable individuals.
Related terms
Understand the meaning and definition of Key employee in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Direct loss in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Boiler and machinery insurance in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Fidelity bond in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Additional living expenses in the context of stock market, trading, and investments.
MOREUnderstand the meaning and definition of Premature death in the context of stock market, trading, and investments.
MOREExplore other categories
4.4 Cr+DOWNLOADS
Enjoy Zero Brokerage On Stock Investments
Get the link to download the App
