Life Settlement Glossary
V
- valuation
- For life settlements, a formal appraisal method designed to determine an accurate life settlement value, without obtaining actual medical records or bids.
- valuation date
- The date on which life insurance policy cash values are determined.
- valued policy
- A type of insurance policy such as life insurance, that makes a full payment regardless of the extent of loss.
- variable life insurance
- Life insurance that combines protection with client directed investments into stocks, bonds, and money market mutual funds.
- variable universal life insurance
- A flexible premium adjustable death benefit form of variable life insurance.
- viatical
- A life settlement transaction involving an insured whose life expectancy is under two years.
- viaticals
- A type of life settlement for insured's whose life expectancy is under two years, the proceeds of which are generally considered to be tax free.
- viatical insurance
- A life insurance policy that is eligible for a viatical life settlements.
- viatical life
- A life insurance policy that qualifies for a vitial life settlement.
- viatical life settlement
- A type of life settlement for insured's whose life expectancy is under two years, the proceeds of which are generally considered to be tax free.
- viatical life settlements
- Life settlements that have been executed on the live of insureds with life expectancies under two years.
- viatical life settlement broker
- A properly licensed individual or entity who owes a fiduciary responsibility to the policy owner (seller) to represent their best interest in the negotiation and sale of a life insurance policy by the policy owner (seller) to a buyer.
- viatical life settlement company
- Generally refers to any entity that is acting as either a viatical life settlement agent, broker, or provider.
- viatical purchasers
- Institutional buyers or other investors who acquire viatical and life settlements.
- viatical settlement
- A type of life settlement for insured's whose life expectancy is under two years, the proceeds of which are generally considered to be tax free.
- viatical settlements
- Life settlements (typically tax-free) on insureds with life expectancies under two years.
- viatical settlement broker
- A properly licensed individual or entity who owes a fiduciary responsibility to the policy owner (seller) to represent their best interest in the negotiation and sale of a life insurance policy by the policy owner (seller) to a buyer.
- viatical settlement provider
- An entity that buys life insurance policies through viatical or life settlement transactions either for their own account or on behalf of financing entity clients otherwise known as buyers, funders, or investors.
- viaticate
- The act of selling a policy under a viatical life settlement.
- viator
- The individual or entity who sells a policy using a viatical life settlement.
- void
- A policy that for a specified reason stated in the policy becomes no longer in effect, such as an instance where information a policyholder provided is proven false.
- volatility
- A measurement of the extent of a market's fluctuation either up or down.