Tontine (Noun)
Meaning 1
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.
Classification
Nouns denoting possession and transfer of possession.
Hypernyms
Meaning 2
A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members.
Classification
Nouns denoting possession and transfer of possession.