Topic
tontine.
form of investment in which shares devolve to remaining participants upon a participant's death
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About tontine
A tontine is an investment linked to a living person which provides an income for as long as that person is alive. Such schemes originated as plans for governments to raise capital in the 17th century and became relatively widespread in the 18th and 19th centuries.
Everything about tontine →- Inception
- 1653