What is "viator"

n. (context rare English) wayfarer, traveler

Viator is a municipality of Almería province, in the autonomous community of Andalusia, Spain. José Brocca lived here.

Viator is a municipality in Spain.

Viator may also refer to:

• Saint Viator (disambiguation), multiple saints
• Viator picis, extinct lapwing genus
• Poanes viator, butterfly species
• In insurance industry, a "viator" is an owner of a life insurance policy, who sells (viaticates) his/her life insurance policy to an investor, a pool of investors, or a viatical funding firm, the process of which is called a Viatical Settlement. The Viatical Settlement Provider (VSP) then becomes the new owner and new beneficiary of the policy, and the insured (usually also the former owner of the policy) is still the former insured. Through sale (viatication), the former owner gets capital equivalent to about 50-90% of the stated death benefit before the death of the insured, to provide for medical expenses for the insured for example. This settlement income is most likely tax-free ( HIPAA). In exchange, the VSP as the new beneficiary of the policy will get the death benefit after the death of the insured. After sale, the VSP, as the new owner/beneficiary, will be responsible for paying the premiums before the maturity of the policy (when the death of the insured occurs). Through the settlement, a viator may gain a larger living benefit compared with having an Accelerated Death Benefit Rider to a life insurance policy. Also, a viatical settlement broker, who negotiates the sale, is usually allowed to be paid compensation no more than 2% of the premium paid by the VSP to the viator. Receving proceeds from such settlement may affect a viator's eligibility for public assistance or welfare, such as Medicaid benefits.