Viaticus (Noun)
Meaning
Purchasing insurance policies for cash from terminally ill policy holders.
Classification
Nouns denoting acts or actions.
Examples
- Viaticus investors targeted terminally ill individuals, buying their life insurance policies for cash at a discounted rate.
- A viaticus company was shut down for misrepresenting policy details and misleading clients.
- As his health continued to decline, he turned to a viaticus firm for a quick financial solution.
- After learning about the viaticus market, many seniors felt pressure to sell their policies.
- Due to questionable practices in the industry, regulators stepped in to tighten laws surrounding viaticus transactions.