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tontine noun, finance an annuity scheme in which several subscribers share a common fund, with their individual benefits increasing as members die until only one member is left alive and receives everything, or until a specified date at which the proceeds will be shared amongst the survivors.
ETYMOLOGY: 18c: named after Lorenzo Tonti (c.1653), the Italian-born Parisian banker who invented it.
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Consult Chambers 21st Century Dictionary, The Chambers Thesaurus (1996) or Chambers Biographical Dictionary (1997 edition with amendments). Enter your search and choose your title from the drop-down menu.
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