Tontine insurance
Tontine insurance Ton*tine" in*su"rance (Life Insurance) Insurance in which the benefits of the insurance are distributed upon the tontine principle. 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. 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. Other modified forms are called {free tontine}, {deferred dividend}, etc., according to the nature of the tontine arrangement. [Webster 1913 Suppl.]


The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • tontine insurance — See tontine policy. tontine policy.. Life insurance with the distinguishing characteristic of a survivorship provision, the policy being based upon an agreement whereby the survivor of a class of persons who contribute to a common fund and… …   Ballentine's law dictionary

  • tontine insurance — noun a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members • Syn: ↑tontine • Hypernyms: ↑life insurance, ↑life assurance * * * noun : participating life insurance providing for …   Useful english dictionary

  • Tontine — Ton*tine , n. [F., from It. tontina; so called from its inventor, Tonti, an Italian, of the 17th century.] An annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship. Thus, an annuity is… …   The Collaborative International Dictionary of English

  • tontine — [tän′tēn΄, tän tēn′] n. [Fr < It tontina, after Lorenzo Tonti, Neapolitan banker who introduced the system into France in the 17th c.] 1. a) a fund to which a group of persons contribute, the benefits ultimately accruing to the last survivor… …   English World dictionary

  • Tontine — In cryptography, a tontine is a secret sharing algorithm which allows n people to share secret data, such that any k of them can reconstruct it by combining their keys. : For the Australian pillow manufacturer, see Tontine Group. A tontine is an… …   Wikipedia

  • tontine — /tontiyn/ A financial arrangement (such as an insurance policy) in which a group of participants share advantages on such terms that upon the default or death of any participant, his advantages are distributed among the remaining participants… …   Black's law dictionary

  • tontine — /ton teen, ton teen /, n. 1. an annuity scheme in which subscribers share a common fund with the benefit of survivorship, the survivors shares being increased as the subscribers die, until the whole goes to the last survivor. 2. the annuity… …   Universalium

  • Tontine — A system for raising capital in which individuals pay into a common pool of money and then receive a dividend based on their share and the performance of investments made with the pooled money. The principal invested in the tontine is never paid… …   Investment dictionary

  • free tontine — Tontine insurance Ton*tine in*su rance (Life Insurance) Insurance in which the benefits of the insurance are distributed upon the tontine principle. Under the old, or {full tontine}, plan, all benefits were forfeited on lapsed policies, on the… …   The Collaborative International Dictionary of English

  • full tontine — Tontine insurance Ton*tine in*su rance (Life Insurance) Insurance in which the benefits of the insurance are distributed upon the tontine principle. Under the old, or {full tontine}, plan, all benefits were forfeited on lapsed policies, on the… …   The Collaborative International Dictionary of English

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