ersatz_read (ersatz_read) wrote in 1word1day,
ersatz_read
ersatz_read
1word1day

Monday-ish word: tontine

tontine (tŏn-tēn′), noun
1. An investment plan in which participants buy shares in a common fund and receive an annuity that increases every time a participant dies.
2. Each member's share of a tontine.
3. The subscribers to a tontine.

Etymology:  named after banker Lorenzo Tonti.

Tontines have appeared frequently in literature and popular culture, often with morbid overtones where people try to kill off the other participants in order to increase their payout.
But the basic concept has also been recommended as way to invest for retirement.  This NPR article includes a link to a 33-page "short history of the tontine",which I found very interesting.

Tags: french, noun, t, wordsmith: ersatz_read
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