ಅರ್ಥ : A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members.
ಸಮಾನಾರ್ಥಕ : tontine insurance
ಅರ್ಥ : 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.