A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members.

synoniem: tontine insurance.

Roget 810: receipt, value received, money coming in; income, incomings, innings, revenue, return, proceeds; gross receipts, net profit; earnings etc. (gain) 775; accepta^†, avails.    rent, rent roll; rental, rentage^†; rack-rent.    premium, bonus; sweepstakes, tontine.    pension, annuity; jointure etc. (property) 780^†; alimony, palimony [Coll.], pittance; emolument etc. (remuneration) 973.    ... meer laten zien

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.