semitontine (English, noun)
expansion: semitontine (uncountable)
Senses:
topics: business
insurance
glosses: 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.
tags: attributive
uncountable
Forms: