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Simple English definitions for legal terms

life settlement

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A quick definition of life settlement:

Life settlement is when someone who is very sick sells their life insurance policy to someone else for a lump sum of money. The person who buys the policy gets the money when the sick person dies. This is often done by people with AIDS.

A more thorough explanation:

A life settlement is a transaction where a terminally or chronically ill person sells the benefits of their life insurance policy to a third party in exchange for a lump-sum cash payment. This payment is usually a percentage of the policy's face value. When the insured person dies, the investor receives the insurance benefit. This is also known as a viatical settlement.

For example, an AIDS patient may sell their life insurance policy at a discount of 20% to 40% depending on their life expectancy. The investor pays the patient a lump sum and receives the insurance benefit when the patient dies.

Life settlements are different from other types of settlements, such as property settlements, which involve the conveyance of property or interests in property to provide for beneficiaries in a way that differs from what they would receive as heirs under the statutes of descent and distribution. Other types of settlements include structured settlements, which involve the defendant agreeing to pay periodic sums to the plaintiff for a specified time, and out-of-court settlements, which are arrived at without the court's participation.

life sentence | life-sustaining procedure

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Dkk
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Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
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i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
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president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
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it doesn't hurt its just tingly
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It needs more alcohol. You tingle when your nerves need watering.
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stretches make me think it's just soreness
windyMagician
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I'm sober lol
Dkk
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Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
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what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
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nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
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