ton·tine (tŏntēn′, tŏn-tēn)
1. An investment plan in which participants buy shares in a common fund and receive an annuity that increases every time a participant dies, with the entire fund going to the final survivor or to those who survive after a specified time.
2. Each member's share of a tontine.
3. The subscribers to a tontine.
[French, after Lorenzo Tonti (1635-1690?), Italian-born French banker.]
The American Heritage® Dictionary of the English Language, Fifth Edition copyright ©2018 by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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