plural nounUS informal
Life insurance policies of terminally ill people, purchased by a third party at less than their mature value as a form of short-term investment. See also viatical settlement.
- Thanks to Ontario's passing of the Red Tape Reduction Act, viatical settlements, otherwise known as ‘death futures,’ will be making Ontario's critically ill a hot investment for U.S. brokerage firms.
- Few critics want to see the trade outlawed, but many are repelled by what they call death futures.
- Also known as living benefits or death futures, viatical settlements enable life insurance policyholders to receive a lump-sum, cash payment to help meet medical and living expenses.
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