A viator is an individual who purchases a life insurance policy with the intention of only holding it for a specific period of time. After this time period expires, the viator will cancel the policy and receive the death benefit. When a Viator sells a life insurance policy? A Viator sells a life insurance policy when the insured party dies. The death benefit is paid to the beneficiaries named in the policy. Is Viator a third party? No, Viator is not a third party. Who is the beneficiary in a viatical settlement? A viatical settlement is a life insurance policy settlement in which the policyholder sells their life insurance policy to a third party for more than the cash value of the policy, but less than the face value of the policy. The policyholder is the beneficiary in a viatical settlement. Which of the following individuals is a Viator? The answer is that a Viator is an individual who engages in risky activities for a living. Some examples of occupations that would be considered Viators include race car drivers, stuntmen, and professional athletes. What is the primary feature of a viatical settlement? The primary feature of a viatical settlement is that it is a life insurance policy that is sold by the policyholder to a third party for a lump sum of cash. The policyholder will then use the cash from the sale to pay for their medical expenses or other needs.