tontine

• Système financier ou d'assurance dans lequel les participants mettent en commun des fonds ou des biens et se partagent les bénéfices ; en cas de décès ou de défaillance d'un membre, sa part est répartie entre les survivants, jusqu'à l'expiration du terme ou jusqu'à ce qu'il ne reste qu'un seul participant.

A financial or insurance arrangement where participants share benefits, and upon the death or default of a member, their share is redistributed among the remaining participants, continuing until a fixed period ends or only one participant remains.

1. Life insurance schemeC2formal

   A financial arrangement where participants pool money, and upon the death of a member, their share is distributed among the surviving participants.

   Tontine (assurance collective)

   • The tontine was popular in the 18th century as a form of investment.
   • Under the tontine, the last surviving member receives the entire fund.
   • Historically, tontines were used to raise capital for public projects.

2. Annuity schemeC2formal

   An investment plan where participants share benefits, and upon a member's death, their benefits are redistributed among the remaining participants, often lasting until only one survivor remains.

   Tontine

   • The tontine annuity was designed to provide income for a fixed period or until all but one participant died.
   • Modern tontine structures are sometimes used in retirement planning.
   • The terms of the tontine specified that the fund would be managed until the death of the last participant.