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Tontine

TONTINE

An organization of individuals who enter into an agreement to pool sums of money or something of value other than money, permitting the last survivor of the group to take everything.

The holders of tontine life insurance contracts enter into an agreement to pay premiums for a certain amount of time before they gain the right to acquire dividends. In the event that a policyholder dies during the tontine policy, his or her beneficiary will be entitled to benefits, but no dividends. The earnings that ordinarily would be used to pay dividends are accumulated during the tontine period and subsequently given only to policyholders who are still alive at the end of the term. This type of policy is known as a dividend-deferred policy. A number of states proscribe such policies.

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"Tontine." West's Encyclopedia of American Law. . Encyclopedia.com. 17 Aug. 2017 <http://www.encyclopedia.com>.

"Tontine." West's Encyclopedia of American Law. . Encyclopedia.com. (August 17, 2017). http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/tontine

"Tontine." West's Encyclopedia of American Law. . Retrieved August 17, 2017 from Encyclopedia.com: http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/tontine

tontine

tontine an annuity shared by subscribers to a loan or common fund, the shares increasing as subscribers die until the last survivor enjoys the whole income. The word comes (in the mid 18th century) from French, and is named after Lorenzo Tonti (1630–95), a Neapolitan banker who started such a scheme to raise government loans in France (c.1653).

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"tontine." The Oxford Dictionary of Phrase and Fable. . Encyclopedia.com. 17 Aug. 2017 <http://www.encyclopedia.com>.

"tontine." The Oxford Dictionary of Phrase and Fable. . Encyclopedia.com. (August 17, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/tontine

"tontine." The Oxford Dictionary of Phrase and Fable. . Retrieved August 17, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/tontine

tontine

tontine a financial system. XVIII. — F., f. name of Lorenzo Tonti, Neapolitan banker who initiated the scheme in France c. 1653.

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"tontine." The Concise Oxford Dictionary of English Etymology. . Encyclopedia.com. 17 Aug. 2017 <http://www.encyclopedia.com>.

"tontine." The Concise Oxford Dictionary of English Etymology. . Encyclopedia.com. (August 17, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/tontine-1

"tontine." The Concise Oxford Dictionary of English Etymology. . Retrieved August 17, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/tontine-1

tontine

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"tontine." Oxford Dictionary of Rhymes. . Encyclopedia.com. 17 Aug. 2017 <http://www.encyclopedia.com>.

"tontine." Oxford Dictionary of Rhymes. . Encyclopedia.com. (August 17, 2017). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/tontine-0

"tontine." Oxford Dictionary of Rhymes. . Retrieved August 17, 2017 from Encyclopedia.com: http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/tontine-0