Definition of Tontine insurance. Meaning of Tontine insurance. Synonyms of Tontine insurance

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Definition of Tontine insurance

Tontine insurance
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.

Meaning of Tontine insurance from wikipedia

- A tontine (/ˈtɒntaɪn, -iːn, ˌtɒnˈtiːn/) is an investment linked to a living person which provides an income for as long as that person is alive. Such...
- Pet insurance Retirement planning Return of premium life insurance Segregated funds Servicemembers' Group Life Insurance Term life insurance Tontine "The...
- that by 1905, two-thirds of the life insurance in the United States was in the form of tontines. Tontine insurance was first developed in the United States...
- Hazard had previously invested in an idea of Blodget's called the Boston Tontine, a sort of early annuity fund that also acted as a lottery for the last...
- expected that in the long term, the schools could be funded by a form of tontine insurance scheme, whereby the cost to educate children who reached their teenage...
- banker. He is sometimes credited with the invention of the tontine, a form of life insurance, although it has also been suggested that he simply modified...
- law of torts and contracts. It also comes up in issues involving tontines and insurance fraud schemes. In real property law and real estate, insurability...
- Ambition Plans Target benefit plans Collective Defined Contribution Schemes Tontine Pensions (the original Longevity risk sharing scheme invented in 1653)...
- cohorts into mini-CDCs and to manage these groups as a Tontine. Royal Mail Pension Scheme Tontines Target Benefit Turner, John Andrew (2010). Pension Policy:...
- He's done some harm as well". In June 2020, Ackman's Pershing Square Tontine Holdings, Ltd, filed $3 billion for the largest-ever blank-check company...