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What does viatical mean?

Looking for the meaning or definition of the word viatical? Here's what it means.

Adjective
  1. Of or pertaining to a journey; viatic
  2. Describing the purchase of an insurance policy from a holder who is terminally ill
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Examples
Developing expertise in long-term care insurance, medi-gap insurance, reverse mortgages and viatical settlements, along with their uses, can serve your older clients well.
Viatical and life settlement company Life Partners Holding Inc.
Life settlements are not viatical settlements, which terminally ill policyholders often use to raise quick cash.
The primary subject matter of this case concerns viatical settlements.
The tax treatment of a viatical settlement is markedly different.
The Arkansas Securities Department is now regulating viatical contracts because of a rash of abuse in the industry.

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