TONTINE

Pronunciation (US): (GB):

I. (noun)

Sense 1

Meaning:

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

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("tontine" is a kind of...):

annuity; rente (income from capital investment paid in a series of regular payments)

Sense 2

Meaning:

A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members

Synonyms:

tontine; tontine insurance