semitontine

English

Etymology

semi- +‎ tontine

Noun

semitontine (uncountable)

1. (insurance, attributive) A form of tontine insurance 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 value is paid.

Anagrams

• minionettes