tontine insurance
- noun
- /ˈtɒntiːn ɪnˈʃʊərəns/
- Archaic
:
seguro tontina
- After his grandfather died, the proceeds from the tontine insurance were divided among the surviving members.
Examples
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Many nineteenth-century institutions used tontine insurance as a way to encourage savings.
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Many retirees choose tontine insurance for its unique benefits.
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Tontine insurance fell out of favor due to changing regulations and ethical concerns.
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Have you ever heard of tontine insurance?
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After his grandfather died, the proceeds from the tontine insurance were divided among the surviving members.
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Many nineteenth-century institutions used tontine insurance as a way to encourage savings for the participants.
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Some individuals prefer tontine insurance because it provides a payout to surviving members when one participant passes away.
Synonyms
91
3.0
A plan that pays money to your family or other people you choose when you die
1
9.9
A group fund people pay into that gives shares to survivors until the last person gets everything
Surface Forms
Morphology
The meaning is directly compositional: 'tontine' denotes a scheme where members' shares pass to surviving members and 'insurance' denotes a protective payment arrangement, so together they denote an insurance arranged on tontine principles (survivors inherit shares). This is not idiomatic or metaphorical but a transparent noun compound whose overall sense is predictable from its parts.
Etymology
Tontine insurance is named after a banker called Tonti, who set up a plan where people put money into one pot and, as members died, each person's share was given to the survivors. So the picture of one shared pot that grows for the living explains why tontine insurance means a policy where a dead member's share goes to the others.