What is a Viatical Settlement?

Instructions:

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question 1 of 3

When a person sells their life insurance policy to a third party, the third party becomes the policy's _____ and receives the insurance payout after death.

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1. Which of the following statements about viatical settlements is true?

2. As viatical settlements gained popularity, some insurance companies began offering _____ in their policies, allowing terminally ill patients to receive a percentage of their benefits before death.

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About This Quiz & Worksheet

What is a viatical settlement? Assess your knowledge of these settlements and examples of them by using the quiz and worksheet.

Quiz & Worksheet Goals

You can check your knowledge of:

  • What the third party becomes when a person sells their life insurance policy to them
  • Something life insurance policy holders must pay
  • An effect of viatical settlements becoming popular
  • History of viatical settlements

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the lesson on viatical settlements
  • Information recall - access the knowledge you have gained about what happened because of the increase in popularity of viatical settlements
  • Interpreting information - verify that you can read information about how the monthly or annual payments relate to viatical settlements and interpret it correctly

Additional Learning

Keep learning, if you want, by looking at the lesson named What is a Viatical Settlement? Use this lesson to:

  • Determine how viatical settlements work
  • Analyze seller and investor considerations
  • Examine the purpose of life insurance
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