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UPDATED: Jul 16, 2021
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There are firms that will buy a life insurance policy from a person who is terminally ill with AIDS, cancer, or other diseases. This provides, to the insured person, cash to cover medical bills and to pay for travel or other desired expenditures in their remaining months. The viatical firm receives the death claim proceeds when the insured dies. The viatical firm hopes to price the settlement at a price that will be attractive to the insured and also allow the viatical firm to make a profit.