How does a lifetime settlement differ from a viatical settlement

under a life insurance policy?

a$.$ A lifetime settlement does not require a terminal illness; a viatical

settlement does.

b$.$ A lifetime settlement is available to all policyholders; a viatical

settlement is available only to healthy seniors, typically those between

the ages of $55$ and $65.$

c$.$ A lifetime settlement is between the insurance company and the

insured; a viatical settlement is between the insured and a third party.

d$.$ A lifetime settlement payout will equal the policy's death benefit; a

viatical settlement payout is less than the policy's cash value.

By what means can a senior homeowner convert his or her home

equity into cash without having to sell the home or take on additional

monthly debt?

a$.$ a second trust deod