One of the mysteries of the English language finally explained.
Life insurance policies of terminally ill people, purchased by a third party at less than their mature value as a form of short-term investment.See also viatical settlement
- ‘Also known as living benefits or death futures, viatical settlements enable life insurance policyholders to receive a lump-sum, cash payment to help meet medical and living expenses.’
- ‘Though they are a brilliant idea, our elected officials dismissed the ‘controversial’ death futures out of hand.’
- ‘Gruesome but true, death futures or ‘viatical settlements’ as they are euphemistically known are traded life policies, which involves buying the rights to the life insurance policies of the terminally ill.’
- ‘Few critics want to see the trade outlawed, but many are repelled by what they call death futures.’
- ‘Thanks to Ontario's passing of the Red Tape Reduction Act, viatical settlements, otherwise known as ‘death futures,’ will be making Ontario's critically ill a hot investment for U.S. brokerage firms.’
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