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A financial arrangement in which someone with a terminal
disease sells his or her life insurance policy at a discount
from its face value for ready cash. The buyer cashes in
on the full amount of the insurance policy when the original
owner dies. It covers a person ( the owner) with a catastrophic
or life-threatening illness, receives compensation for
less than the expected death benefit of the policy in
return for an assignment, transfer, sale of the policy.
Sometimes called viaticus.
Definition of Noun 1. - cash derived from sale of an
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