an annuity scheme in which subscribers share a common fund with the benefit of survivorship, the survivors' shares being increased as the subscribers die, until the whole goes to the last survivor.
the annuity shared.
the share of each subscriber.
the number of subscribers.
any of various forms of life insurance in which the chief beneficiaries are those whose policies are in force at the end of a specified period (tontine period ).
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2024
How to use tontine in a sentence
The last of the celebrated coffee houses of New York bore the name, tontine coffee house.
Today the site is occupied by a large modern office building, which still retains the name of tontine.
The changing of the tontine coffee house into a purely mercantile building marked the end of the coffee-house era in New York.
tontine insurance is profitable to the few in just the proportion that misfortune shall overtake those who participate in it.
Still, some companies are making tontine and Semi-tontine insurance their specialty.
British Dictionary definitions for tontine
an annuity scheme by which several subscribers accumulate and invest a common fund out of which they receive an annuity that increases as subscribers die until the last survivor takes the whole
the subscribers to such a scheme collectively
the share of each subscriber
the common fund accumulated
(as modifier): a tontine fund
a system of mutual life assurance by which benefits are received by those participants who survive and maintain their policies throughout a stipulated period (the tontine period)
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012