tontine
IPA: tˈɑntˈini
noun
- (finance, insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors.
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Examples of "tontine" in Sentences
- They work, I am told, with a kind of tontine -- it is, in fact, a lottery.
- The tontine is a scheme for raising money on a long-term basis by weighting rewards in favour of the longest lasting contributors.
- *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.
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