settlement(redirected from Settlement (disambiguation))
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1. In health insurance, payment to the policyholder for claims made against the insurance company.
2. In liability or malpractice litigation, an agreement between disputants that satisfies the needs of both parties.
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.