What describes a condition that can reasonably be expected to result in death within 24 months?

What describes a condition that can reasonably be expected to result in death within 24 months?

• A. Chronically ill
• B. Terminally ill
• C. Viatical settlement purchaser
• D. Asset protection

Answer: (B)

Terminally ill describes a condition where death is reasonably expected within 24 months. In insurance and related planning contexts, this prognosis thresholds triggers benefits like accelerated death benefits or viatical settlements, which are specifically tied to a limited life expectancy. Chronically ill refers to long-lasting conditions that may not shorten life within two years, so it doesn’t fit the 24-month prognosis. A viatical settlement purchaser is the buyer of a life policy, not a medical condition, and asset protection is a financial strategy, not a medical prognosis.

Terminally ill describes a condition where death is reasonably expected within 24 months. In insurance and related planning contexts, this prognosis thresholds triggers benefits like accelerated death benefits or viatical settlements, which are specifically tied to a limited life expectancy. Chronically ill refers to long-lasting conditions that may not shorten life within two years, so it doesn’t fit the 24-month prognosis. A viatical settlement purchaser is the buyer of a life policy, not a medical condition, and asset protection is a financial strategy, not a medical prognosis.