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

• tontine insurance

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

• life assurance
• life insurance

2. (noun) 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

• annuity
• rente