tontine
tontine definition
ton·tine (tän′tēn′, tän tēn′)
noun
- 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
- the subscribers to such a fund, collectively
- 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.
Webster's New World College Dictionary Copyright © 2009 by Wiley Publishing, Inc., Cleveland, Ohio.
Used by arrangement with John Wiley & Sons, Inc.
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