tontine
A form of investment in which, on the death of an investor, his share is divided…A form of investment in which, on the death of an investor, his share is divided amongst the other investors.
» Joseph assigned to his nephew his interest in the tontine, already quite a hopeful speculation.
Meaning
1 sensesA form of investment in which, on the death of an investor, his share is divided amongst the other investors.
a form of life insurance whereby on the death or default of a participant their share is distributed to the remaining members
Examples
1 sentencesJoseph assigned to his nephew his interest in the tontine, already quite a hopeful speculation.
Translations
3 languagesOrigin
From French tontine, named after Lorenzo de Tonti, who introduced the scheme into France iFrom French tontine, named after Lorenzo de Tonti, who introduced the scheme into France in around 1653. Thus, from Tonti + -ine.
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Forms
plural: tontinesSynonyms
1 synonyms- a form of life insurance whereby on the death or default of a participant their share is distributed to the remaining members:tontine insurance