tontine

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English[edit]

Etymology[edit]

From French tontine, named after Lorenzo de Tonti, who introduced the scheme into France in around 1653.

Pronunciation[edit]

Noun[edit]

tontine (plural tontines)

  1. (finance, insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors.
    • 1971, Keith Thomas, Religion and the Decline of Magic, Folio Society 2012, p. 634:
      there were many speculative schemes which gambled on the expectation of an individual's life, as in the tontine system, whereby all the group's contributions went to the last survivor.
    • 2000, JG Ballard, Super-Cannes, Fourth Estate 2011, p. 237:
      They were pleasantly high, but in an almost self-conscious way, as if they were members of a tontine blessed by the unexpected death of two or three of its members.

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