Tontine meaning

tŏntēn, tŏn-tēn
Each member's share of a tontine.
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An investment plan in which participants buy shares in a common fund and receive an annuity that increases every time a participant dies, with the entire fund going to the final survivor or to those who survive after a specified time.
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The subscribers to a tontine.
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Any annuity or insurance system of this kind.
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(finance, insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors.
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Origin of tontine

  • French after Lorenzo Tonti (1635–1690?), Italian-born French banker

    From American Heritage Dictionary of the English Language, 5th Edition

  • From French tontine, named after Lorenzo de Tonti, who introduced the scheme into France in around 1653.

    From Wiktionary