I. ˈtän.ˌtēn, ̷ ̷ˈ ̷ ̷ noun
( -s )
Etymology: French, from Lorenzo Tonti died 1695 Italian banker in Paris who invented the scheme + French -ine, from -ine, feminine of -in -ine, adjective suffix
: a financial arrangement (as an insurance policy) whereby a group of participants share various benefits or advantages on such terms that upon the death or default of any member a part or all of his advantages are distributed among all the remaining members until on the death of all but one the whole goes to him or on the expiration of an agreed period the whole goes to those then remaining in the group ; collectively : the share or right of each individual
II. adjective
: relating to or involving the principle or system upon which the tontine is based
tontine fund
tontine loan