Viatical Settlement Contract Law and Legal Definition
In Florida, a viatical settlement contract is defined as "a written agreement entered into between a viatical settlement provider, or its related provider trust, and a viator" that includes an agreement to transfer ownership or change the beneficiary designation of a life insurance policy at a later date. A "viator" is defined as "the owner of a life insurance policy." W. Coast Life Ins. Co. v. Life Brokerage Partners. LLC, 2009 U.S. Dist. LEXIS 81650 (S.D. Fla. Aug. 11, 2009)
