- 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).
Origin of tontine
Examples from the Web for tontine
Historical Examples of tontine
When it was discovered that Loka was nowhere in the immediate vicinity, Tontine was furious.
The suspense over, Tontine began to cry; that followed naturally, of course.
They were to shut the gates of the Tontine, and barricade them with the coaches.
It was decided that they should be thrown between the barracks and the Tontine.
Tontine in the French finances, what, with the derivation of the name, 390.
- 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)
Word Origin for tontine
1765, from French tontine, named for Lorenzo Tonti, Neapolitan banker who in 1653 first proposed this method of raising money.