Viatical (Adjective)
Meaning
Pertaining to the purchase of insurance policies from terminally ill policy holders; "viatical business"; "viatical companies"; "National Viatical Association".
Classification
Relational adjectives (pertainyms).
Examples
- The viatical company specialized in buying life insurance policies from policy holders who were terminally ill and needed immediate cash for medical expenses.
- A number of states have implemented regulations on the viatical business to protect the rights of both the policy holders and the investors.
- The National Viatical Association was formed to promote fair business practices and provide education on this complex and often misunderstood industry.
- Some critics argue that viatical companies are taking advantage of vulnerable people, while others see it as a necessary service that provides critical financial support.
- The viatical settlement market has grown rapidly in recent years as more people become aware of the option to sell their life insurance policies.