Definition of "viatical" []

• Of or relating to traveling, a road, or a way. (adjective)
• Of or relating to a contractual arrangement in which a business buys life insurance policies from terminally ill patients for a percentage of the face value: a viatical settlement. (adjective)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "A life settlement sometimes called a "viatical settlement" or even "senior settlement" originates when a life insurance policyholder, often an elderly or terminally ill person, sells his or her interest in the policy to a third party, usually at a level that's well below the policy's stated death benefit."
• "This type of transaction is called a viatical life settlement."
• "Enter Jesse Bogdonoff, an American employee at the bank who convinced the king to invest the money in a pool of insurance backed investments called viatical contracts, managed by Millennium Asset Management."