Tontine
nounverified·updated May 18, 2026
an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants
Framework senses
- §1
- an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants
- §2
- a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members