Tontine - definition, pronunciation, transcription
Amer.
|ˈtɒntiːn|
Brit.
|tɒnˈtiːn|
noun
- a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
- 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
- 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
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