What is another word for Viaticus Settlement?
Pronunciation: [vˈa͡ɪətˌɪkəs sˈɛtə͡lmənt] (IPA) 
Viaticus Settlement refers to the financial arrangement where an individual sells their life insurance policy to a third party for a lump sum payment. This payment is less than the death benefit of the policy, but it provides the policyholder with immediate cash. There are various synonyms for Viaticus Settlement, including Life Settlement, Senior Settlement, Senior Life Settlement, Pension Life Settlement, and Life Insurance Settlement. These terms are interchangeable and refer to the same process, where an individual converts their life insurance policy into cash. The key benefit of Viaticus Settlement is that the policyholder can monetize their policy and use the funds to pay for medical bills, living expenses, or any other financial needs.
