[ UK /tˈɒntiːn/ ]
- 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
- a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
How To Use tontine In A Sentence
- *A tontine is a financial arrangement whereby a fixed group takes shares in an investment—in this case the coffeehouse—paying out pro rata as each dies or drops out; the last one standing gets the whole shebang. City of Glory
- 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.
- The later we leave it, the more the pension becomes a tontine in which the survivor takes all.
- They work, I am told, with a kind of tontine -- it is, in fact, a lottery. As We Are and As We May Be
- The tontine is a scheme for raising money on a long-term basis by weighting rewards in favour of the longest lasting contributors. Propeller Most Popular Stories
- Cash self-help groups function like tontines, which have been documented in other areas of West Africa.
- 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?
- He has taken over a pub a mile away from the Tontine in the recusant village of Osmotherley, high on the scarp of the moors.