settlement

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settlement

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.

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.
Medical Dictionary, © 2009 Farlex and Partners
References in periodicals archive ?
Towns and villages account for more than 1,400 municipal government entities in New York State.
The monarchy facilitated this process of communal identity, and especially in its intervention in the legal disputes between the territorial incursions initiated by autonomous towns against towns and villages that disputed such claims.
Campaigning formally started Tuesday for the election of town and village mayors and assembly members in towns and villages throughout Japan in a final round of quadrennial local polls.