0 relating to the sale of life insurance policies sold by a dying person to someone else at a price lower than the value of the policy:
As a result, the viatical settlement industry emerged.
Recently, viatical settlements have created problems for life insurance providers.
Early improper activities among a few bad actors produced a fear among consumers regarding viatical settlements.
This combination of events caused a surge in viatical settlements as both investors and viators saw an opportunity for mutual benefit.
Viatical settlement typically is the term used for a settlement involving an insured who is terminally or chronically ill.
Viatical settlements are similar but not the same as life settlements.
It is the largest association of viatical and life settlement companies in the world, consisting of 150 members spanning five countries.
Today, many states regulate viatical and life settlements and many more are developing legislation and regulations.
