Definition of semitontine. Meaning of semitontine. Synonyms of semitontine

Here you will find one or more explanations in English for the word semitontine. Also in the bottom left of the page several parts of wikipedia pages related to the word semitontine and, of course, semitontine synonyms and on the right images related to the word semitontine.

Definition of semitontine

semitontine
Tontine insurance Ton*tine" in*su"rance (Life Insurance) Insurance in which the benefits of the insurance are distributed upon the tontine principle. Under the old, or full tontine, plan, all benefits were forfeited on lapsed policies, on the policies of those who died within the tontine period only the face of the policy was paid without any share of the surplus, and the survivor at the end of the tontine period received the entire surplus. This plan of tontine insurance has been replaced in the United States by the semitontine plan, in which the surplus is divided among the holders of policies in force at the termination of the tontine period, but the reverse for the paid-up value is paid on lapsed policies, and on the policies of those that have died the face is paid. Other modified forms are called free tontine, deferred dividend, etc., according to the nature of the tontine arrangement.
Semitontine
Semitontine Sem`i*ton*tine", a. (LIfe Insurance) Lit., half-tontine; -- used to designate a form of tontine life insurance. See Tontine insurance. -- Sem`i*ton*tine", n.
Semitontine
Semitontine Sem`i*ton*tine", a. (LIfe Insurance) Lit., half-tontine; -- used to designate a form of tontine life insurance. See Tontine insurance. -- Sem`i*ton*tine", n.

Meaning of semitontine from wikipedia