TONTINE
Scrabble letter values: T1O1N1T1I1N1E1 = 7
Definition
- noun a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members. — synonyms: tontine_insurance
- noun an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants.
Examples
- “can run for a fixed period of time or until the death of all but one participant”