Viatical Settlement

This is a partial payment of the benefits from life insurance to an insured who is terminally ill. This would include a situation where a person has been given a short time to live without hope of recovery. These payments would help provide the necessary living expenses which could include home care or care in a hospice or assisted living facility.

This policy is unusual in that life insurance is usually paid after the person insured has died, not upon the diagnosis of a terminal illness.