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free tontineTontine 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. full tontineTontine 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. semitontineTontine 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. SemitontineSemitontine 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. SemitontineSemitontine 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. Tontine
Tontine Ton*tine", n. [F., from It. tontina; -- so called from
its inventor, Tonti, an Italian, of the 17th century.]
An annuity, with the benefit of survivorship, or a loan
raised on life annuities with the benefit of survivorship.
Thus, an annuity is shared among a number, on the principle
that the share of each, at his death, is enjoyed by the
survivors, until at last the whole goes to the last survivor,
or to the last two or three, according to the terms on which
the money is advanced. Used also adjectively; as, tontine
insurance.
Too many of the financiers by professions are apt to
see nothing in revenue but banks, and circulations, and
annuities on lives, and tontines, and perpetual rents,
and all the small wares of the shop. --Burke.
Tontine insuranceTontine 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.
Meaning of Tonti from wikipedia
-
Tonti or de
Tonti may
refer to:
Alessandro Tonti (born 1992),
Italian ****ociation
football player Aldo
Tonti (1910–1988),
Italian cinematographer Andrea...
-
Henri de
Tonti (né
Enrico Tonti; c. 1649 –
September 1704), also
spelled Henri de Tonty, was an Italian-born
French military officer, explorer, and voyageur...
- Lino
Tonti (September 16, 1920 – June 8, 2002) was an
Italian motorcycle engineer known for
designing a
number of
sport and
racing motorcycles in the...
-
Antony Tonti-Filippini AO (5 July 1956 – 7
November 2014) was an
Australian bioethicist. He was a
leading spokesman against voluntary euthanasia.
Tonti-Filippini...
- USNS
Tonti (T-AOG-76) was a T1
tanker type,
Tonti-class
gasoline tanker, in
operation for the
United States Navy from 1948
through 1960. She was originally...
-
Tonti is an
unincorporated community in
Tonti Township,
Marion County, Illinois,
United States. The
community of
Tonti is now
little more than a bend in...
- ca. 1659, to
Lorenzo de
Tonti who was a
financier and
former governor of
Gaeta who was in
France in exile.
Lorenzo de
Tonti was the
inventor of the form...
-
Alessandro Tonti (born 28 May 1992) is an
Italian professional footballer who
plays as a
goalkeeper for
Italian Serie C
Group B club Pineto. Born in Cattolica...
- Enzo
Tonti (30
October 1935 – 10 June 2021) was an
Italian physicist and mathematician,
known for his
contributions to
engineering and
mathematical physics...
-
Lorenzo de
Tonti (c. 1602 - c. 1684) was a
governor of Gaeta,
Italy and a
Neapolitan banker. He is
sometimes credited with the
invention of the tontine...
