ETYM French, from Italian tontina; -- so called from its inventor, Tonti, an Italian, of the 17th century.
1. A form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members; SYN. tontine insurance.
2. An annuity scheme wherein members share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period or until the death of all but one participant.
Annuity scheme where benefits increase as members die.
Allocation of certain benefits, as annuities, etc., among a group of persons such that at the death of one member the remainder share his or her portion; annuity, etc., so shared. + prikaži više