1. financial arrangements where participants contribute to a common fund, with benefits distributed among survivors as members die
Usage: finance; historical

Examples

• The elderly investors formed tontines to ensure income for their remaining years.
• Tontines were popular in the 18th and 19th centuries as retirement planning tools.
• The last surviving member of the tontine would receive the entire remaining fund.
• Insurance companies offered tontines as alternatives to traditional life insurance policies.
• Many countries eventually banned tontines due to concerns about gambling and fraud.
• The tontine system encouraged participants to outlive their fellow investors.