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1. (n.) tontine
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.
Etymology: (1755–65; < F, after Lorenzo Tonti, Neapolitan banker who started the scheme in France c1653. See -ine3)
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| Definition of 'tontine' |
Princeton's WordNet |
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1. (noun) tontine, tontine insurance
a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
2. (noun) tontine
an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period of time or until the death of all but one participant
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| Definition of 'tontine' |
Webster Dictionary |
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1. (noun) tontine
an annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship. Thus, an annuity is shared among a number, on the principle that the share of each, at his death, is enjoyed by the survivors, until at last the whole goes to the last survivor, or to the last two or three, according to the terms on which the money is advanced. Used also adjectively; as, tontine insurance
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Definitions of tontine 
