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Tontine   Listen
Tontine

noun
1.
A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members.  Synonym: tontine insurance.
2.
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.



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tontine insurance


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"Tontine" Quotes from Famous Books



... as he droned on about 'reactionable endowment', 'surrender-value', and 'interest accumulating on the tontine policy', and tried, as I did so, to analyse the loathing I felt for him. I came to the conclusion that it was partly due to his pose of doing the whole thing from purely altruistic motives, entirely for my good, and partly because he forced me to face the fact ...
— The Little Nugget • P.G. Wodehouse
... enthusiasm over the hotel was not due to the hotel itself, but more on account of the weather. As a fact, it was a very important hotel in those days. Attached to it were large assembly and concert rooms, erected in 1772 by Tontine. It was known as THE Hotel, the distinctive appellation of "Royal" being prefixed in consequence of a visit of a member of the royal family who took up his ...
— The Inns and Taverns of "Pickwick" - With Some Observations on their Other Associations • B.W. Matz


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