tontine
Last-one-wins fund
A tontine is a financial arrangement where participants contribute to a shared fund, with payouts increasing for survivors as other members die—the last living member receives everything.
Named after 17th-century Italian banker Lorenzo de Tonti.
The structure creates a morbid incentive, making tontines a favorite plot device in murder mysteries: The heirs were bound by a tontine, and someone was picking them off one by one.
State of eventual death
- longevityDuration of existence
- actuarialOf risk calculation
- forfeitureLoss due to breach
- accrualIncremental addition over time
attrition · elimination · windfall · morbid · heir · bequest · inheritance · decimation
Retiree's ongoing benefit
- retirementLeaving the workforce permanently
- incomeRegular monetary receipts
- paymentsMoney given for obligations
- beneficiaryDesignated asset receiver
lifetime · annuitant · payout · disbursement · stipend · subscriber · share · dividend
Units of company ownership
- capitalWealth used for investment
- subscriptionPaid recurring access
- poolingMerging shared contributions
- fundReserved money supply
securities · return · speculation · risk · portfolio · equity · dividends · assets
Ordered configuration or agreement
- agreementShared position between parties
- contractEnforceable written agreement
- syndicateCombined group pursuing shared interest
- collectiveJointly organized group
partnership · conspiracy · collusion · plot · alliance · pact · compact · cooperative
The sixteen hundreds
- NeapolitanOf a southern Italian city
- old-fashionedBelonging to earlier times
- archaicBelonging to earlier times
- obsoleteNo longer in use
coffeehouse · guild · fraternal · society · charter · legacy · colonial · Victorian
mortality
State of eventual death
- longevityDuration of existence
- actuarialOf risk calculation
- forfeitureLoss due to breach
accrual · attrition · elimination · windfall · morbid · heir · bequest · inheritance · decimation · outlive
pension
Retiree's ongoing benefit
- retirementLeaving the workforce permanently
- incomeRegular monetary receipts
- paymentsMoney given for obligations
beneficiary · lifetime · annuitant · payout · disbursement · stipend · subscriber · share · dividend · premium
shares
Units of company ownership
- capitalWealth used for investment
- subscriptionPaid recurring access
- poolingMerging shared contributions
fund · securities · return · speculation · risk · portfolio · equity · dividends · assets · stake
arrangement
Ordered configuration or agreement
- agreementShared position between parties
- contractEnforceable written agreement
- syndicateCombined group pursuing shared interest
collective · partnership · conspiracy · collusion · plot · alliance · pact · compact · cooperative · enterprise
17th-century
The sixteen hundreds
- NeapolitanOf a southern Italian city
- old-fashionedBelonging to earlier times
- archaicBelonging to earlier times
obsolete · coffeehouse · guild · fraternal · society · charter · legacy · colonial · Victorian · banned
tontinelife insurance
Contract paying upon death
term life insurance · death benefit · whole life insurance · inheritance · bequest