What does tontine mean?

Definitions for tontine
ˈtɒn tin, tɒnˈtinton·tine

Here are all the possible meanings and translations of the word tontine.

Princeton's WordNet

  1. tontine, tontine insurancenoun

    a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members

  2. tontinenoun

    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

Wiktionary

  1. tontinenoun

    A form of investment in which, on the death of an investor, his share is divided amongst the other investors.

Wikipedia

  1. Tontine

    A tontine () is an investment plan for raising capital, devised in the 17th century and relatively widespread in the 18th and 19th centuries. It enables subscribers to share the risk of living a long life by combining features of a group annuity with a kind of mortality lottery. Each subscriber pays an agreed sum into the fund and thereafter receives a periodical payout. As members die, their payout entitlements devolve to the other participants, and so the value of each continuing payout increases. On the death of the last member, the scheme is wound up.Tontines are regulated in Europe under the Directive 2002/83/EC of the European Parliament and are still common in France.The new Pan-European Pension legislation coming into force in August 2020 contains provisions which specifically pave the way for a next-generation of pension products that abide by the "tontine principle".Questionable practices by U.S. life insurers in 1906 led to the Armstrong Investigation in the United States restricting some forms of tontines. Nevertheless, in March 2017, The New York Times reported that tontines were getting fresh consideration as a way for people to get steady retirement income.

Webster Dictionary

  1. Tontinenoun

    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

Freebase

  1. Tontine

    A tontine is an investment plan for raising capital, devised in the 17th century and relatively widespread in the 18th and 19th. It combines features of a group annuity and a lottery. Each subscriber pays an agreed sum into the fund, and thereafter receives an annuity. As members die, their shares devolve to the other participants, and so the value of each annuity increases. On the death of the last member, the scheme is wound up. In a variant, which has provided the plot device for most fictional versions, on the death of the penultimate member the capital passes to the last survivor.

Chambers 20th Century Dictionary

  1. Tontine

    ton-tēn′, n. a kind of life-annuity, increasing as the subscribers die: a loan raised with the benefit of survivorship—also adj.n. Tontin′er. [From Lorenzo Tonti, a Neapolitan, its inventor.]

Etymology and Origins

  1. Tontine

    The name given to a system of reducing the State Loans in France in 1653 after Lorenzo Tonti, a Neapolitan protegé of Cardinal Mazarin, its projector. According to this system, when one subscriber dies, the money accredited to him passes to the others, until the last survivor inherits the whole amount.

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Numerology

  1. Chaldean Numerology

    The numerical value of tontine in Chaldean Numerology is: 4

  2. Pythagorean Numerology

    The numerical value of tontine in Pythagorean Numerology is: 7

Images & Illustrations of tontine

  1. tontinetontinetontinetontinetontine


Translations for tontine

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