TONTINE INSURANCE

Pronunciation (US): (GB):

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

Classified under:

Nouns denoting possession and transfer of possession

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

life assurance; life insurance (insurance paid to named beneficiaries when the insured person dies)