- 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.
Definition
[ n.]