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Definition of Structured settlement
An agreement in settlement of a lawsuit involving specific payments made over a
Historically, damages paid out during settlement of personal physical injury cases were distributed in the form of a lump-sum cash payment to the plaintiff. This windfall was intended to provide for a lifetime of medical and income needs. The claimant or his/her family was then forced into the position of becoming the manager of a large sum of money.
An international bank headquartered in Basel, Switzerland, which
Futures contracts, such as stock index futures, that settle for cash, not involving
Refers to PSA Uniform Practices such as cutoff times on delivery
Delivery and settlement of securities within five business days.
In the money and bond markets, the regular basis on which some security trades are
When payment is made for a trade.
The date on which payment is made to settle a trade. For stocks traded on US exchanges,
A figure determined by the closing range which is used to calculate gains and losses in
The rate suggested in Financial Accounting Standard Board (FASB) 87 for discounting the
The trade is settled one business day beyond what is normal.
A self-funding, self-hedged series of transactions that usually utilize
Debt that has been customized for the buyer, often by incorporating unusual options.
A strategy in which a portfolio is designed to achieve the performance of some
The date when money first changes hands; i.e., when a buyer
An account within the balance of payments accounts showing the change in a country's official foreign exchange reserves. It is used to measure a balance of payments deficit or surplus.
A dictionary meaning for the word viatica is "the eucharist as given to a dying person or to one in danger of death". In the context of Viatical settlement it means the selling of one's own life insurance policy to another in exchange for an immediate percentage of the death benefit. The person or in many cases, group of persons buying the rights to the policy have high expectation of the imminent death of the previous owner. The sooner the death of the previous owner, the higher the profit. Consumer knowledge about this subject is poor and little is known about the entities that fund the companies that purchase policies. People should be very careful when considering the sale of their policy, and they should remember a sale of their life insurance means some group of strangers now owns a contract on their life. If a senior finds it difficult to pay for an insurance policy it might be a better choice to request that current beneficiaries take over the burden of paying the premium. The practice selling personal life insurance policies common in the United States and is spilling over into Canada. It would appear to have a definite conflict with Canada's historical view of 'insurable interest'.
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