MLchartDataset catalogue

Tontine

Term · Law · MLC-T-LAW-004934

A financial arrangement in which participants pool contributions and the benefits, whether income or the whole fund, go to the surviving members, so payments rise as members die and the last survivor takes the remainder. It was devised in the 1650s by Lorenzo Tonti and used by governments and insurers into the 19th century. New York banned tontine life insurance policies in 1906 after the Armstrong investigation.

Table 1. Record
IdentifierMLC-T-LAW-004934
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004934",
  "term": "Tontine",
  "field": "Law",
  "definition": "A financial arrangement in which participants pool contributions and the benefits, whether income or the whole fund, go to the surviving members, so payments rise as members die and the last survivor takes the remainder. It was devised in the 1650s by Lorenzo Tonti and used by governments and insurers into the 19th century. New York banned tontine life insurance policies in 1906 after the Armstrong investigation.",
  "url": "https://mlchart.com/terminology/law/tontine/"
}

Record 5,040 of 5,441 in Law terminology (MLC-0107). Request the full dataset.