tontine

tontine Definition

ton·tine (tän′tēn′, tän tēn′)

noun

1. a fund to which a group of persons contribute, the benefits ultimately accruing to the last survivor or to those surviving after a specified time
2. the subscribers to such a fund, collectively
3. the total fund or the share of each subscriber
any annuity or insurance system of this kind

Etymology: Fr < It tontina, after Lorenzo Tonti, Neapolitan banker who introduced the system into France in the 17th c.

tontine Usage Examples

Converse of object

lose: He should lose the tontine, and with that the last hope of his seven thousand eight hundred pounds.

Modifies a noun

clause: Like the tontine clause this matrimonial regime allows the survivor of a married couple to inherit the whole of a French property.

Browse dictionary entries near tontine