tontine

IPA: tˈɑntˈini

(finance, insurance) A form of investment in which, on the death of an investor, his share is divided amongst the other investors.

Examples of "tontine" in Sentences

It was in the form of a tontine.
Each investor pays a sum into the tontine.
Social Security is definitely not like a tontine.
He invented the tontine, a form of life insurance.
At first, tontine holders included men and women of all ages.
The Tontine was a large hotel on the southeast end of the green.
It is also described as a tontine on the blurb to the paperback edition.
They work, I am told, with a kind of tontine -- it is, in fact, a lottery.
The Flying Hellfish formed a tontine, and buried the art in a trunk at sea.
The tontine is a scheme for raising money on a long-term basis by weighting rewards in favour of the longest lasting contributors.
*A tontine is a financial arrangement whereby a fixed group takes shares in an investment—in this case the coffeehouse—paying out pro rata as each dies or drops out; the last one standing gets the whole shebang.