tontine

[ ton-teen, ton-teen ]

noun

1. 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.
2. the annuity shared.
3. the share of each subscriber.
4. the number of subscribers.
5. 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 tontine period.

tontine

/ tɒnˈtiːn; ˈtɒntiːn /

noun

1. 1. 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
   2. the subscribers to such a scheme collectively
   3. the share of each subscriber
   4. the common fund accumulated
   5. ( as modifier )

      a tontine fund

2. 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 History and Origins

Origin of tontine¹

1755–65; < French; named after Lorenzo Tonti, Neapolitan banker who started the scheme in France about 1653. See -ine ¹

Word History and Origins

Origin of tontine¹

C18: from French, named after Lorenzo Tonti, Neapolitan banker who devised the scheme

Example Sentences

The last of the celebrated coffee houses of New York bore the name, Tontine coffee house.

From Project Gutenberg

Today the site is occupied by a large modern office building, which still retains the name of Tontine.

From Project Gutenberg

The changing of the Tontine coffee house into a purely mercantile building marked the end of the coffee-house era in New York.

From Project Gutenberg

Tontine insurance is profitable to the few in just the proportion that misfortune shall overtake those who participate in it.

From Project Gutenberg

Still, some companies are making Tontine and Semi-Tontine insurance their specialty.

From Project Gutenberg