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Tontine

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Noun

tontine tontine insurance

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

tontine

Definition: 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

Definition: A form of investment in which, on the death of an investor, his share is divided amongst the other investors.

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