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Tontine   Listen
Tontine

noun
1.
A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members.  Synonym: tontine insurance.
2.
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.





WordNet 3.0 © 2010 Princeton University


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"Tontine" Quotes from Famous Books



... impassiveness in the midst of all the confusion of the household, like an Egyptian pyramid, indifferent to the hurricane. The fine old man who expected to live upwards of a hundred years and share with the State, as last survivor, the profits of a Lafarge tontine policy in which he held a share, a sum amounting to millions, studied the writings of the Chinese because they were famous for their longevity. He had lost nothing of his serenity nor of his caustic ...
— Honor de Balzac • Albert Keim and Louis Lumet


Words linked to "Tontine" :   life assurance, life insurance, rente, annuity


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