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Definition of Tontine
1. Noun. A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members.
2. Noun. An annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period of time or until the death of all but one participant.
Definition of Tontine
1. n. An annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship. Thus, an annuity is shared among a number, on the principle that the share of each, at his death, is enjoyed by the survivors, until at last the whole goes to the last survivor, or to the last two or three, according to the terms on which the money is advanced. Used also adjectively; as, tontine insurance.
Definition of Tontine
1. Noun. (finance insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors. ¹
¹ Source: wiktionary.com
Definition of Tontine
1. a form of collective life insurance [n -S]
Lexicographical Neighbors of Tontine
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