Vocabulary Entry

tontine

|noun

noun

A tontine is a financial agreement where a group of people contributes to a fund, and the payouts are made to the remaining participants as they die.

Example Sentences

"The old men in the village participated in a tontine to secure their retirement income."

"She inherited her grandfather's share in the tontine after he passed away."

"As more members of the tontine died, the payouts became more substantial for the survivors."