A viatical settlement is an agreement between a third party and a(n) ___________.

a. Terminally ill insured's spouse and children who don't want to wait until the insured dies to collect the death benefit

b. Policyowner insuring the life of a terminally ill insured with 2 years or less life expectancy

c. Insurance agent representing the family of the terminally ill insured

d. Lender who owns the mortgage on a terminally ill insured's home or business property

Answer: B