tontine insurance

Englisch - Englisch

Definition von tontine insurance im Englisch Englisch wörterbuch

Other modified forms are called free tontine, deferred dividend, etc

Under the old, or full tontine, plan, all benefits were forfeited on lapsed policies, on the policies of those who died within the tontine period only the face of the policy was paid without any share of the surplus, and the survivor at the end of the tontine period received the entire surplus

according to the nature of the tontine arrangement

This plan of tontine insurance has been replaced in the United States by the semitontine plan, in which the surplus is divided among the holders of policies in force at the termination of the tontine period, but the reverse for the paid-up value is paid on lapsed policies, and on the policies of those that have died the face is paid

Insurance in which the benefits of the insurance are distributed upon the tontine principle

Silbentrennung

ton·tine insur·ance