1. relating to or being a financial arrangement in which a terminally ill person sells their life insurance policy to a third party for less than its face value
Usage: finance; insurance

Examples

• The viatical settlement allowed him to access funds while still alive.
• She considered a viatical agreement to pay for her medical expenses.
• The company specializes in viatical investments.
• Viatical settlements became more common in the 1980s.
• The viatical industry is heavily regulated in most states.
• He sold his policy through a viatical settlement company.