Library / English Dictionary

    TONTINE

    Pronunciation (US): Play  (GB): Play

     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 participantplay

    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 membersplay

    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)

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