tontine

Từ điển WordNet v3.1 - WordNet Dictionary

noun

1. a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
• Syn:
tontine insurance
• Hypernyms:
life insurance, life assurance
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
• Hypernyms:
annuity, rente