tontine

• Финансовая или страховая схема, при которой участники делят выгоды, а в случае смерти или невыполнения обязательств одного из участников его доля перераспределяется между оставшимися участниками до истечения установленного срока или пока не останется только один участник.

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.

   Схема страхования жизни

   • 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.

   Тонтина

   • 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.