Definitions

1. adjective

Relating to or involving the sale of a life insurance policy by the policyholder, typically to a third party in exchange for a lump sum of money.

“The viatical settlement allowed the elderly patient to receive a significant sum of money to cover her medical expenses.”

2. noun

A viatical settlement, or a policy that has been sold by the original policyholder to a third party.

“The viatical investor carefully reviewed the policy before making the purchase.”