Each member's share of a tontine.
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.
The subscribers to a tontine.
Any annuity or insurance system of this kind.
Origin of tontine
- French after Lorenzo Tonti (1635–1690?), Italian-born French banker
From American Heritage Dictionary of the English Language, 5th Edition
- From French tontine, named after Lorenzo de Tonti, who introduced the scheme into France in around 1653.