Definition

Relating to a type of agreement where a business purchases life insurance policies from terminally ill individuals for a portion of their value.

Example

The company specializes in viatical settlements, helping patients access funds from their life insurance policies.

Conversation

Have you heard about viatical settlements in the news lately?

Yeah, it sounds like a complicated way to help terminally ill patients get cash.

Exactly! It's interesting how it offers a different option for people in need.

I agree! It really opens up new discussions about life insurance.

Synonyms & Antonyms

Root Explanation

Viatical is derived from the Latin word "viaticus" (meaning of travel or journey) and the suffix "-al" (meaning pertaining to). The term viatical refers to something related to travel or journeys, particularly in the context of life insurance policies sold to terminally ill patients.

Memory Tip

Think of 'travel' ('viaticus') when remembering that 'viatical' pertains to matters related to journeys, especially in the context of life insurance.

Visually Confused Words