tontine

ton·tine  (tntn, tn-tn)

n.

1. 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.

2. Each member's share of a tontine.

3. The subscribers to a tontine.

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[French, after Lorenzo Tonti (1635-1690?), Italian-born French banker.]

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tontine

1. an annuity, or loan, based on a group of annuities that are shared among several people with the provision that as each person dies his share is spread among those remaining, and the entire amount accrues to the survivor of them all.
2. the members of the group collectively.
3. each member’s total share or annuity. — tontine, adj.

See also: Finance

Thesaurus

Noun	1.	tontine - a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members tontine insurance life assurance, life insurance - insurance paid to named beneficiaries when the insured person dies; "in England they call life insurance life assurance"
	2.	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 annuity, rente - income from capital investment paid in a series of regular payments; "his retirement fund was set up to be paid as an annuity"