"Tontine" is a word in LAW AND LEGAL, ENGLISH
In French law. A species Of association or partnership formed among persons who are in receipt Of perpettfai or life annuities, with the agreelnfent that the shares or annuities of those who die Bhall accrue to the survivors. This plan is Sald to be thus named frohi Touti, an Italian, who Invented it in the seventeenth' century. The principle is used in some forms of life insurance.. Merl. Repert
An annuity, with the benefit of survivorship, or a loan
raised on life annuities with the benefit of survivorship. Thus, an
annuity is shared among a number, on the principle that the share of
each, at his death, is enjoyed by the survivors, until at last the
whole goes to the last survivor, or to the last two or three, according
to the terms on which the money is advanced. Used also adjectively; as,
tontine insurance.
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After the Great Britain Beer Festival, in London, all the brewery presidents decided to go out for a beer. The guy from Corona sits down and says, "Hey Senor, I would like the world's best beer, a Corona." The bartender dusts off a bottle from the shelf and gives it to him. The guy from Budweiser says, "I'd like the best beer in the world, give me 'The King Of Beers', a Budweiser." The bartender gives him one. The guy from Coors says, "I'd like the only beer made with Rocky Mountain spring water, give me a Coors." He gets it. The guy from Guinness sits down and says, "Give me a Coke." The bartender is a little taken aback, but gives him what he ordered. The other brewery presidents look over at him and ask "Why aren't you drinking a Guinness?" and the Guinness president replies, "Well, I figured if you guys aren't drinking beer, neither would I."
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Read the complete definition