tontine
noun
- a fund to which a group of persons contribute, the benefits ultimately accruing to the last survivor or to those surviving after a specified time
- the subscribers to such a fund, collectively
- the total fund or the share of each subscriber
- any annuity or insurance system of this kind
See tontine in American Heritage Dictionary 4
(tŏnˈtēnˌ, tŏn-tēnˈ)
noun- An investment plan in which participants buy shares in a common fund and receive an annuity that increases every time a participant dies, with the entire fund going to the final survivor or to those who survive after a specified time.
- Each member's share of a tontine.
- The subscribers to a tontine.
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