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Related to tontine: Tontine Annuity


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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. a rare agreement among several persons, who agree that each will invest in an annuity and the last to die will receive the remaining assets and profits.

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.


a scheme for raising money by which the lenders receive an annuity for life that increases as the other investors die until the last survivor receives the total of all the annuities.
Collins Dictionary of Law © W.J. Stewart, 2006

TONTINE, French law. The name of a partnership composed of creditors or, recipients of perpetual or life-rents or annuities, formed on the condition that the rents of those who may die, shall accrue to the survivors, either in whole or in part.
     2. This kind of partnership took its name from Tonti, an Italian, who first conceived the idea and put it in practice. Merl. Repert. h.t. Dall. Dict. h.t.; 5 Watts, 851.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.
References in periodicals archive ?
China Tontine Wines Group Limited is one of the leading sweet wine producers in China.
survivor, a tontine could make periodic distributions.
The trick to the Tontine's makeover is that it is capturing both sides of its market.
Oxygen made the creditable sum of 340gns, but his older Classic-winning mares fared less well, Turquoise fetching 73gns, Tontine 32gns and Problem only 18gns.
Morphet also gave an explanation that using innovative thinking achieve a 1000 percent increase in pillow sales last year when her company Pacific Brands launched its Tontine date-stamped pillows.
Broadwind sold 10,000,000 common shares, while Tontine Capital Partners LP and some of its affiliated funds together provided 6,125,000 shares.
Tontine health insurance would pay a cash bonus to those who turn out to be right in their belief that they did not really "need" insurance after all.
The Highways Agency will resurface both carriageways and replace the central reservation from the motorway's interchange with the M6 to a point just west of Tontine Road.
WITH TONTINE INSURANCE, all early form of life insurance, time truly meant money.