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  1. Oxford American Dictionary

    viatical settlement

    • IPA[vīˌadəkəl ˈsedlmənt]

    美式

    • n.
      an arrangement whereby a person with a terminal illness sells their life insurance policy to a third party for less than its mature value, in order to benefit from the proceeds while alive.

    • noun: viatical settlement, plural noun: viatical settlements