tontine

English - Turkish

Definition of tontine in English Turkish dictionary

tontin

hayat sigortası

bir çeşit ortaklaşa hayat sigortası sistemi

{i} anamal aktarma sözleşmesi

English - English

Definition of tontine in English English dictionary

{n} a raising of money on or by annuities

An annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship

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

{i} system for division of annuity between members of a group

Thus, an annuity is shared among a number, on the principle that the share of each, at his death, is enjoyed by the survivors, until at last the whole goes to the last survivor, or to the last two or three, according to the terms on which the money is advanced

a form of investment in which, on the death of an investor, his share is divided amongst the other investors

Used also adjectively; as, tontine insurance

Related Terms

tontine insurance

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

tontine insurance

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

tontine insurance

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

tontine insurance

according to the nature of the tontine arrangement

tontine insurance

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

Hyphenation

ton·tine