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5 Cards in this Set
- Front
- Back
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Viatical Settlements
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Most viatical settlement providers pay a lump sum of between 50 to 85 percent of the policy's face value, depending on the insured's life expectancy.
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Financing Entity
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A financing entity's principal activity is to provide funds to achieve a viatical settlement or the purchase of a viaticated policy.
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Viatical Settlement Contract
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A viatical settlement contract is a written agreement establishing the terms under which a viator will sell his or her life insurance policy for less than the expected death benefit.
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Viator
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A viator is a person who owns a life insurance policy and is seeking to enter into a viatical settlement contract.
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Viaticated Policy
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A viaticated policy is one that has been acquired by a viatical settlement provider under a viatical settlement contract.
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