tontine

Definitions

  • WordNet 3.6
    • n 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
    • n tontine a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
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Webster's Revised Unabridged Dictionary
    • n Tontine 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. "Too many of the financiers by professions are apt to see nothing in revenue but banks, and circulations, and annuities on lives, and tontines , and perpetual rents, and all the small wares of the shop."
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Century Dictionary and Cyclopedia
    • n tontine An annuity shared by subscribers to a loan, with the benefit of survivorship, the share of each survivor being increased as the subscribers die, until at last the whole goes to the last survivor, the whole transaction ceasing with his death. By means of tontines many government loans were formerly raised in England. The name is also applied to the number of those receiving the annuity, to their individual share or right, and to the system itself. The tontine principle has also been applied to life-insurance. See tontine policy, under II.
    • tontine Of, pertaining to. constituting, or involving the principle of the tontine; as, tontine profits; tontine funds; tontine insurance.
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Chambers's Twentieth Century Dictionary
    • n Tontine ton-tēn′ a kind of life-annuity, increasing as the subscribers die: a loan raised with the benefit of survivorship—also adj.Tontin′er.
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Etymology

Webster's Revised Unabridged Dictionary
F., from It. tontina,; -- so called from its inventor, Tonti, an Italian, of the 17th century
Chambers's Twentieth Century Dictionary
From Lorenzo Tonti, a Neapolitan, its inventor.

Usage

In literature:

What was yet more to the purpose, he had been all his life a consistent scoffer at the Finsbury tontine.
"The Wrong Box" by Robert Louis Stevenson and Lloyd Osbourne
In the year 1789, the interest, exclusive of the tontine, was L9,150,138.
"The Writings of Thomas Paine, Volume II" by Thomas Paine
At this date a new tontine was established in Paris.
"The Memoirs of Louis XIV., His Court and The Regency, Complete" by Duc de Saint-Simon
By way of experiment, a tontine on principles stated in the report was also suggested.
"The Life of George Washington, Vol. 4 (of 5)" by John Marshall
Among these the most successful was the custom of receiving loans upon tontines.
"Continental Monthly, Volume 5, Issue 4" by Various
Still, some companies are making Tontine and Semi-Tontine insurance their specialty.
"The New England Magazine, Volume 1, No. 1, January 1886" by Various
Even the Tontine might rouse a student.
"Chimney-Pot Papers" by Charles S. Brooks
Today the site is occupied by a large modern office building, which still retains the name of Tontine.
"All About Coffee" by William H. Ukers
First Annual Concert of the Philharmonic Society given at Tontine Hall, Broadway, New York City.
"Annals of Music in America" by Henry Charles Lahee
Here he would sometimes lament his connection with the tontine.
"The Works of Robert Louis Stevenson - Swanston Edition Vol. 7 (of 25)" by Robert Louis Stevenson
In the year 1789, the interest, exclusive of the tontine, was L9,150,138.
"The Writings Of Thomas Paine, Complete" by Thomas Paine
Get a room in the Tontine Inn.
"A Reconstructed Marriage" by Amelia Edith Huddleston Barr
She promptly scandalised them by going to the Tontine and putting up there.
"White Fire" by John Oxenham
Upon the same revenue, more money can always be raised by tontines than by annuities for separate lives.
"An Inquiry Into the Nature and Causes of the Wealth of Nations" by Adam Smith
She tells me that she thinks it an excellent thing that the Tontine Marshes have been planted with Apocalypses.
"Punch, or the London Charivari, October 21st 1893" by Various
The Tontine idea, historically familiar, was for many years imitated by some offices in their insurance contracts.
"Encyclopaedia Britannica, 11th Edition, Volume 14, Slice 6" by Various
A good many years ago we were asked to take shares in a tontine, and complied.
"Blackwood's Edinburgh Magazine, Volume 63, No. 389, March 1848" by Various
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In news:

Outre Mer, the second full-length effort by the same lineup, is a soundtrack to a forthcoming Klaus Tontine film (the distribution of which is in legal limbo).
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