TONTINE n.
he 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. Too many of the financiers by professions are apt to see nothing in revenue bu…
TONTINE INSURANCE n.
Insurance in which the benefits of the insurance are distributed upon the tontine principle. Under the old, or full tontine, plan, all benefits were forfeited on lapsed policies, on the policies of those who died within the tontine period only the face of the policy was paid without any share of the surplus, and the su…
TOOL n. 7 definitions
An instrument such as a hammer, saw, plane, file, and the like, used in the manual arts, to facilitate mechanical operations; any instrument used by a craftsman or laborer at his work; an implement; as, the tools of a joiner, smith, shoe-maker, etc.; also, a cutter, chisel, or other part of an instrument or machine tha…