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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.





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


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