Viatical Settlement Provider Law and Legal Definition
Viatical Settlement Provider is an individual, partnership, corporation, or other legal entity that enters into an agreement with a person who owns a life insurance policy, or who owns or is covered under a group policy, insuring the life of a person who has a catastrophic or life threatening illness or condition, under the terms of which the viatical settlement provider pays compensation or anything of value, which compensation or value is less than the expected death benefit of the insurance policy or certificate, in return for the policyholder's assignment, transfer, sale, devise, or bequest of the death benefit or ownership of the insurance policy or certificate to the viatical settlement provider.
Legal Definition list
Related Legal Terms
- Access Software Provider
- Administrative Settlement Costs
- Adoption Service Provider
- Alaska Native Claims Settlement Act
- Alternate Non-Emergency Services Provider
- Ambulance Service Providers
- Any Willing Provider Law
- Application Service Providers
- Approved Crop Insurance Provider
- Approved Provider [Public Safety]
