Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

viatication

Read a random definition: partes beneficii

A quick definition of viatication:

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

A more thorough explanation:

Definition: Viatication is the purchase of a life insurance policy from a terminally or chronically ill policyholder in exchange for a lump-sum payment. This allows the policyholder to receive money while they are still alive, and the purchaser receives the insurance benefit when the policyholder dies.

Example: An AIDS patient sells their life insurance policy to a third party for a lump-sum payment that is less than the policy's face value. When the patient dies, the third party receives the insurance benefit.

This example illustrates how viatication works. The terminally ill patient is able to receive money while they are still alive, which can help with medical expenses or other needs. The purchaser takes on the risk that the patient may live longer than expected, but if the patient dies sooner than expected, they receive the insurance benefit and make a profit.

viatical settlement | viator

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
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
19:20
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
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
LSD+ is ad-free, with DMs, discounts, case briefs & more.