tontine

Definitions of tontine
  1. 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
    see moresee less
    type of:
    annuity, rente
    income from capital investment paid in a series of regular payments
  2. noun
    a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
    synonyms: tontine insurance
    see moresee less
    type of:
    life assurance, life insurance
    insurance paid to named beneficiaries when the insured person dies
Word Family