tontine


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Related to tontine: Tontine Annuity

ton·tine

 (tŏn′tēn′, tŏn-tēn′)
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.

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

tontine

(ˈtɒntiːn; tɒnˈtiːn)
n
1. (Banking & Finance)
a. an annuity scheme by which several subscribers accumulate and invest a common fund out of which they receive an annuity that increases as subscribers die until the last survivor takes the whole
b. the subscribers to such a scheme collectively
c. the share of each subscriber
d. the common fund accumulated
e. (as modifier): a tontine fund.
2. (Insurance) a system of mutual life assurance by which benefits are received by those participants who survive and maintain their policies throughout a stipulated period (the tontine period)
[C18: from French, named after Lorenzo Tonti, Neapolitan banker who devised the scheme]

ton•tine

(ˈtɒn tin, tɒnˈtin)

n.
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.
[1755–65; < French, after Lorenzo Tonti, Neapolitan banker who started the scheme in France c1653. See -ine3]

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
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.tontine - a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
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"
References in periodicals archive ?
Ian started his career at The Tontine before moving to Muse on Yarm High Street.
Goods Vehicle Operator's Licence Hub Logic Ltd of Tontine House, 8 Gordon Street, 2nd Floor, Glasgow, G1 3PL is applying to change an existing licence as follows: To keep an extra 2 goods vehicles and 3 trailers at the operating centre at 2 Cartside Avenue, Renfrew, PA4 9RX.
At Stirling Sheriff Court, Sheriff Dean Leslie fined David Hunter, Tontine Hotel, Balfron, PS20 for selling a pint of whisky, costing three shillings and sixpence, to a farm servant and also for not having a label on the bottle.
Directed by Lucia Foster, The Woodstock Tontine is the debut theatrical production of playwright Steffi Rubin.
The Gigabit City developer opened new Scottish headquarters at the Tontine last month and will invest in the construction of new digital infrastructure in the Trongate area and The Tontine itself.
19 December 2016 - Winston-Salem, North Carolina-based consumer goods company HanesBrands (NYSE: HBI) has agreed to sell its Australian Dunlop Flooring and Tontine pillow businesses, as planned, for USD 35m total, the company said.
Barbara and Eugene McCoy once had something of a restaurant empire, with the Cleveland Tontine at its beating heart from 1976 until Eugene's involvement there ceased in 2013.
This week, Manchester's Richard Lomax and The Tontine are joined by local punk rockers The No Marks.
In time for the Merchant City Festival in Glasgow - which runs until August 2 - Tontine Lane is hosting the Heverlee Belgian Beer Cafe, which hails from the undisputed beer capital of the world, as well as a host of street food stalls and live art performances.
Pacific NonWovens manufactures synthetic fiber products under the consumer bedding brand Crestall and commercial brands, Tontine Fibres and Tontine Insulation.
survivor, a tontine could make periodic distributions.
The 1788 Tontine building - formerly the canal company's head office and Commercial Hotel - still sits majestically overlooking the basins and river.