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What is meant by viatical settlement?
A viatical settlement allows you to invest in another person’s life insurance policy. With a viatical settlement, you purchase the policy (or part of it) at a price that is less than the death benefit of the policy. When the seller dies, you collect the death benefit.
What does viatical means?
of or relating to a viaticum. of or relating to a financial transaction in which a company buys life insurance policies from the terminally ill at less than their face value and may sell the policies to investors: viatical settlements.
What is the primary feature of a viatical settlement?
So, What Is the Primary Feature of a Viatical Settlement? Essentially, it is the prepayment of a death benefit at a reduced rate. However, it is important to note that the cash settlement is provided in exchange for the sale and transfer of the ownership rights of the life insurance policy.
What is a viatical settlement broker?
What Defines a Viatical Settlement Broker? A person who negotiates viatical settlements on behalf of a life Insurance policy holder. Viatical Settlement Brokers (“VSB”) work with several financial institutions that buy insurance policies, to find the best prices for their clients.
What is the name of a viatical settlement?
A viatical settlement is an arrangement in which someone who is terminally or chronically ill sells their life insurance policy at a discount from its face value for ready cash.
What is a viatical investment?
VIATICAL INVESTMENT means the contractual right to receive any portion of the death benefit or ownership of a life insurance policy or certificate, for consideration that is less than the expected death benefit of the life insurance policy or certificate.
Are viatical settlements securities?
NASAA concludes that VIATICAL INVESTMENTs, regardless of the health status or age of the insured, are securities.
How do you get a viatical settlement?
In order to invest in viatical settlements, you must be an accredited investor as defined under Rule 501 of Regulation D of the Federal Securities Act of 1933. You need to be an accredited investor because there are specific risks that individuals without sufficient wealth and income should not take.
What does viatical investment mean?
How do you pronounce Viators?
noun, plural vi·a·to·res [vahy-uh-tawr-eez, -tohr-].
Is Viator a Scrabble word?
VIATOR is a valid scrabble word.
What is a Viator in English?
noun, plural vi·a·to·res [vahy-uh-tawr-eez, -tohr-]. a wayfarer; traveler.
Is Vitiator a Scrabble word?
Yes, vitiator is in the scrabble dictionary.
Is Viator a word?
What is the meaning of Dominica?
Etymology. From Latin Dominica (“Lord’s Day [Island], Sunday [Island]”) due to being sighted by Columbus on a Sunday.
What is a Viator insurance?
‘Viator’ means the owner of a life insurance policy insuring the life of a person who has a catastrophic or life threatening illness or condition, who enters into an agreement under which the viatical settlement company will pay compensation or anything of value, which compensation or value is less than the expected …
How do you spell Dominica?
one of the Windward Islands, in the E West Indies. an independent republic comprising this island: a former British colony; gained independence 1978.
Where is the name Dominica from?
The name Dominica is girl’s name of Spanish, Italian origin meaning “belonging to the Lord”. Fashionably Continental and much fresher than Dominique, though it’s been used since the Middle Ages. Dominica can be spelled any number of ways, from Dominika to Domenica, but we prefer this version.
Who is beneficiary in a viatical settlement?
Beneficiary: The person designated to receive the face value of a life insurance policy. In a viatical settlement, one or more investors may receive this designation on an “irrevocable” basis which means no one can change it without permission.