Viatical Settlements

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2 things do viatical settlements include?

-contract for a loan or other financing transaction secured by LI policy -agreement with viator to transfer ownership or change beneficiary designation later

What is a viatical settlement?

compensation is paid to a life insurance policy owner who assigns death benefit to the payor

viatical settlement broker?

offer or advertise availability of such contracts or negotiate between policy owners and providers

Viatical settlement provider?

party who policyowner assigns death benefit in exchange for compensation

What is a viator?

policyowner who assigns death benefit


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