English dictionary
tontine meaning and definition
Definition and meaning of tontine at MeaningMonkey.org. tontine meaning and definition in the English Dictionary.TONTINE noun
Definition of tontine (noun)
- a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
- synonyms: tontine insurance
- 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
Source: Princeton University Wordnet