viatical settlement

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Related to Life settlement: viatical

viatical settlement

The purchase—at a discount—of a life insurance policy from a gravely ill patient. The buyer becomes the beneficiary of the policy; the viator receives a lump sum payment before dying.
See also: settlement
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References in periodicals archive ?
Abacus Settlements, LLC is a licensed life settlement provider with locations in New York and Tennessee.
But by the early 2000s, it became clear that there was a significant difference between the mortality tables that insurers used to price policies and the life expectancy reports that were used by the life settlement industry.
The Mace Life Benefits team has over 25 years experience in the life insurance and life settlement industry.
Provider companies, the most heavily regulated entities in the life settlement industry, have other options, primarily because their employees are covered by the company's license.
This life expectancy difference is important because it changes the often-held perception that a life settlement buyer is "betting" on a policyholder's life.
A proposal before the National Association of Insurance Commissioners would bar life settlement transactions until a policy had been in effect for five years.
A company accepting the life settlement company's offer relinquishes ownership and beneficial interest in the policy in exchange for a cash payment.
For CPAs in public practice, marketing and promoting life settlements can be easy; many accountants have clients that fit the life settlement eligibility profile.
With the introduction of life settlement, that list now includes life insurance.
The future role of private equity in life settlement investing
nd] Annual International Life Settlements Investor Conference will be held at the London office of Ernst & Young at 1 More London Place, London SE1 2AF.
The life settlement industry is strongly opposed to this type of transaction," Kampa says.