Anyone who gives a sum of money as a consideration for life insurance policy or interest in the death benefits; also means a person who owns, acquires or is entitled to a beneficial interest in a trust that owns a viatical settlement contract or is the beneficiary of a life insurance policy which is or will be the subject of a viatical settlement contract

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The key concept is identifying who actually pays to acquire the life insurance policy rights in a viatical settlement. The description describes the party who provides the money as consideration and who may own or hold an interest in a trust that owns the viatical contract, or who is the beneficiary of the policy that will be settled. This is the viatical settlement purchaser—the person or entity that purchases the policy rights and becomes economically entitled to the death benefit, either directly or through a trust arrangement.

This differs from a viatical settlement broker, who only facilitates the transaction between the owner and the purchaser, a viatical settlement provider, which is the party funding or issuing the contract, and the viator, typically the insured or original policy owner who enters into the settlement. The description fits the purchaser because it centers on the act of providing consideration and obtaining ownership or beneficial interests in the contract.