Viaticum ViaVoice

(from the Latin "Viaticum" (vi-at-i-kum), an allowance for traveling expenses or provisions for a journey.) Initially the term “viatical” applied to the sale of life insurance by a terminally ill person. In some contexts, that narrow use -- i.e., terminal illness -- continues to have meaning (as in the difference between viatical settlement vs. senior settlement) . In other instances, "viatical" can be applied to the broader lifetime settlement process -- for example, the provisions of the NAIC's Viatical Settlement Model Act apply to both viatical and senior settlements. See Viatical Settlement, Senior Settlement

pertaining to the purchase of insurance policies from terminally ill policy holders; "viatical business"; "viatical companies"; "National Viatical Association"

a life-insurance policy that is sold at a discount before the insured person dies

adj. Growing by roadsides or paths.