Which term describes a person who provides funds to acquire a life insurance policy or interest in the death benefits of a policy?

Which term describes a person who provides funds to acquire a life insurance policy or interest in the death benefits of a policy?

• A. Viatical settlement provider
• B. Viatical settlement purchaser
• C. Viator
• D. Viatical producers

Answer: (B)

In a viatical settlement, the person who provides the money to acquire the policy or the right to the death benefits is the viatical settlement purchaser. They supply the capital, become the owner of the policy and its death benefit, and then receive the proceeds when the insured dies. The seller of the policy is the viator, often the insured who is terminally ill. The term viatical settlement provider refers to the entity that arranges or funds the overall transaction, while viatical producers are the brokers or agents who market these settlements.

In a viatical settlement, the person who provides the money to acquire the policy or the right to the death benefits is the viatical settlement purchaser. They supply the capital, become the owner of the policy and its death benefit, and then receive the proceeds when the insured dies. The seller of the policy is the viator, often the insured who is terminally ill. The term viatical settlement provider refers to the entity that arranges or funds the overall transaction, while viatical producers are the brokers or agents who market these settlements.