| Library / English Dictionary |
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
Classified under:
Nouns denoting possession and transfer of possession
Hypernyms ("tontine" is a kind of...):
life assurance; life insurance (insurance paid to named beneficiaries when the insured person dies)
