tontia
A tontine is a form of investment where a group of individuals contributes to a common fund, with the gains from this fund distributed to the surviving members over a set period. The core principle is that as members die, their shares are reallocated among the remaining participants. This process continues until the end of the designated term, at which point the last surviving member(s) receive the entire accumulated fund.
The concept originated in the 17th century with Lorenzo de Tonti, an Italian banker. Tontines were popular
Due to their complex nature, potential for abuse, and regulatory challenges, tontines have largely fallen out