Noun(1) a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members(2) an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period of time or until the death of all but one participant
(1) The later we leave it, the more the pension becomes a tontine in which the survivor takes all.(2) If you own a house with others in a tontine - so that on death your share goes automatically to the others - where do you stand with regard to inheritance tax?(3) Here one finds the treatment of joint annuities on several lives, the inheritance of annuities, problems about the fair division of the costs of a tontine , and other contracts in which both age and interest on capital are relevant.(4) Cash self-help groups function like tontines , which have been documented in other areas of West Africa.
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