viatication


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  • noun

Synonyms for viatication

purchasing insurance policies for cash from terminally ill policy holders

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The results from this model also support the hypothesis that price regulation is binding for the relatively healthy but has no effect on the likelihood of viatication for the relatively unhealthy.
Therefore, we might expect a spike in the viatication hazard of patients in regulated states at 4.
Figure 4 shows the estimated viatication hazard from this model.
TABLE 5 Results of Empirical Models of the Hazard of Viatication Hazard Ratio (SE) Variables (1) (2) (3) Life exp >4.
The local monopoly problem evident in some segments of the viatical industry results from the uneven distribution of AIDS and HIV cases among the states, and the resulting availability of viatication in such states.
Obviously, there is some connection between the incidence of AIDS and the existence of viatication opportunities.
They may engage in strategic behavior, perhaps deliberately seeking to mislead, by lying or concealing key facts such as the effects of viatication on other benefits or the existence of any alternatives to viatical settlements, in an effort to close the deal and get their fee.
59) As a result of differences in the states' regulations, the viatication of otherwise identical policies can result in two different settlements in two different states, both in terms of dollars paid and the rights and remedies provided in each viatical settlement contract.
99) Further, the Commissioner is authorized to "[e]stablish standards for evaluating reasonableness of payments" with respect to viatical settlement contracts, including regulating the discount rates used to determine the amount paid for the viatication of a policy.
Further, there is an inherent confidentiality problem in the viatication of policies: the policies are owned by someone with no insurable interest in the life of the insured.
126) No one could reasonably argue that viators should be kept uninformed about the viatication process.
131) A further question is the appropriateness of requiring viatical firms to serve essentially as the insurer of the viators' understanding of all of the possible ramifications from viatication, when, arguably, it would be more cost-efficient to leave this task up to AIDS groups, as "guardians" for the terminally ill.
These disclosures should include alternatives to viatication as well as the tax consequences of viatication and the possible impact of viatication on need-based assistance programs like Medicaid.
The standards for advertising, requiring that it be "truthful and not misleading by fact or implication" are hard to dispute on their face, as is the further requirement that if the advertiser emphasizes the speed with which the viatication will occur, it must also disclose the average time frame on a viatication, from completed application to ultimate payout of proceeds.
Under viatication, a third party (not the insurance company issuing the life insurance policy) purchases the insurance policy outright, at a discount.