Share this entry

Share this page

tontine

Line breaks: ton|tine
Pronunciation: /tɒnˈtiːn
 
, ˈtɒn-/

Definition of tontine in English:

noun

1An annuity shared by subscribers to a loan or common fund, the shares increasing as subscribers die until the last survivor enjoys the whole income.
Example sentences
  • The later we leave it, the more the pension becomes a tontine in which the survivor takes all.
  • If you own a house with others in a tontine - so that on death your share goes automatically to the others - where do you stand with regard to inheritance tax?
  • Here one finds the treatment of joint annuities on several lives, the inheritance of annuities, problems about the fair division of the costs of a tontine, and other contracts in which both age and interest on capital are relevant.
1.1A scheme for life assurance in which the beneficiaries are those who survive and maintain a policy to the end of a given period.

Origin

mid 18th century: from French, named after Lorenzo Tonti (1630–95), a Neapolitan banker who started such a scheme to raise government loans in France (circa1653).

Words that rhyme with tontine

Springsteenprotein

Definition of tontine in:

Share this entry

Share this page

 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.

Get more from Oxford Dictionaries

Subscribe to remove adverts and access premium resources

Word of the day Noel
Pronunciation: nəʊˈɛl
noun
Christmas…