What does tontine insurance mean?
Definitions for tontine insurance
ton·tine in·sur·ance
This dictionary definitions page includes all the possible meanings, example usage and translations of the word tontine insurance.
Princeton's WordNet
tontine, tontine insurancenoun
a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
ChatGPT
tontine insurance
Tontine insurance is a type of insurance arrangement that combines features of a group annuity and a life insurance policy, where a group of individuals contribute to a fund that pays out dividends until only one policyholder survives. Upon the death of each policyholder, the benefits get redistributed among the surviving policyholders. Once the final policyholder dies, the arrangement is dissolved and no further payouts occur. This kind of investment scheme was more popular in the past but decreased due to regulatory changes diminishing their appeal. The tontine takes its name from Lorenzo de Tonti, a banker from Naples who allegedly invented the scheme in France in the 17th century.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of tontine insurance in Chaldean Numerology is: 8
Pythagorean Numerology
The numerical value of tontine insurance in Pythagorean Numerology is: 3
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"tontine insurance." Definitions.net. STANDS4 LLC, 2024. Web. 16 Apr. 2024. <https://www.definitions.net/definition/tontine+insurance>.
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