SURVIVORSHIP n. 2 definitions
est in an estate, to take the whole estate upon the death of other. Blackstone. Chance of survivorship, the chance that a person of a given age has of surviving another of a giving age; thus, by the Carlisle tables of mortality the chances of survivorship for two persons, aged 25 and 65, are 89 and 11 respectively, or…
TONTINE n.
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…