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Definition of Tontine
1. Noun. A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members.
2. Noun. 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.
Definition of Tontine
1. n. 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.
Definition of Tontine
1. Noun. (finance insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors. ¹
¹ Source: wiktionary.com
Definition of Tontine
1. a form of collective life insurance [n -S]
Lexicographical Neighbors of Tontine
Literary usage of Tontine
Below you will find example usage of this term as found in modern and/or classical literature:
1. The Encyclopedia Americana: A Library of Universal Knowledge (1920)
"During the following century the tontine was frequently used in France and in
Great Britain ... A disastrous private tontine in France, known as the "Caisse ..."
2. The Knickerbocker. by Charles Fenno Hoffman, Lewis Gaylord Clark, Kinahan Cornwallis, John Holmes Agnew, Timothy Flint, Washington Irving (1851)
"The Bellet of tontine,' by ' THC,' is a clever piece of versification, but the
iteration, in the course of some seventy lines, becomes wearisome. ..."
3. The Knickerbocker: Or, New-York Monthly Magazine by Charles Fenno Hoffman, Timothy Flint, Lewis Gaylord Clark, Kinahan Cornwallis, John Holmes Agnew (1851)
"That opinion» never vary Of her beauty in tontine; Who is of her charms во chary
All agreeing she ¡я Belle of this tontine — Cynosure of all the leaser ..."
4. A Treatise on the Law of Insurance of Every Kind by Joseph Asbury Joyce (1917)
"that class for the specified period, which is called the tontine period or period
of distribution, and after paying death losses, expenses, and other losses ..."
5. Semi-centennial History of the New York Life Insurance Company, 1845-1895 by James Monroe Hudnut (1895)
"THE year 1885 was destined to see the controversy between the tontine, and
non-tontine, plans revived in another form, and to draw into the discussion the ..."
6. ...Report of a Joint Committee of Senate and Assembly on the Affairs of Life by James Archibald Frear (1907)
"SEMI-tontine DIVIDENDS. If the insured elects to leave his annual dividends for
a fixed term of years with the company, subject to forfeiture in case of ..."
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