The Viatical Association of America is a not for profit trade association that was started in 1995. The Viatical Association of America was created to benefit industry professionals, their companies and consumers in the viatical and senior life settlement market. In addition to providing information to both professionals and consumers, the Viatical Association of America aids lawmakers to establish new regulation of the viatical and senior settlement market.
A viatical life settlement is when someone who is suffering from a terminal illness sells their life insurance policy to a third party for a lump cash sum. The individual can then use the money as they see fit. They could use it to pay off medical bills or for experimental medical treatments not covered by health insurance.
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