Tontine

{
  "id": "MLC-T-INS-003339",
  "term": "Tontine",
  "field": "Insurance and risk management",
  "definition": "An investment scheme where participants contribute to a common fund, and the last surviving member or members receive the entire fund or its income. While popular in historical contexts, modern tontines are largely prohibited or heavily regulated due to their speculative nature and potential for fraud. They share some characteristics with annuities but lack the guaranteed payments.",
  "url": "https://mlchart.com/terminology/insurance/tontine/"
}