tontine
(noun) an annuity scheme wherein participants share certain benefits and on the death of any participant his benefits are redistributed among the remaining participants; can run for a fixed period of time or until the death of all but one participant
tontine, tontine insurance
(noun) a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
Source: WordNet® 3.1
tontine (plural tontines)
(finance, insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors.
• nonetti
Source: Wiktionary
Ton*tine", n. Etym: [F., from It. tontina; -- so called from its inventor, Tonti, an Italian, of the 17th century.]
Definition: An annuity, with the benefit of survivorship, or a loan raised on life annuities with the benefit of survivorship. Thus, an annuity is shared among a number, on the principle that the share of each, at his death, is enjoyed by the survivors, until at last the whole goes to the last survivor, or to the last two or three, according to the terms on which the money is advanced. Used also adjectively; as, tontine insurance. Too many of the financiers by professions are apt to see nothing in revenue but banks, and circulations, and annuities on lives, and tontines, and perpetual rents, and all the small wares of the shop. Burke.
Source: Webster’s Unabridged Dictionary 1913 Edition
25 December 2024
(adjective) having or exhibiting a single clearly defined meaning; “As a horror, apartheid...is absolutely unambiguous”- Mario Vargas Llosa
Coffee dates back to the 9th century. Goat herders in Ethiopia noticed their goats seem to be “dancing” after eating berries from a particular shrub. They reported it to the local monastery, and a monk made a drink out of it. The monk found out he felt energized and kept him awake at night. That’s how the first coffee drink was born.
