The key difference from today`s perspective, with pensions and immediate annuities, is that tontine does not pay mortality credits before (and in the expectation) of deaths. Instead, survivors will not have mortality credit until some members of the tontine reserve drain. As a result, in less than a century, ironically, tontines had been most often eliminated as a government funding strategy… because they proved too expensive for the government to continue paying tontine to so many survivors! In 1770, the French government forcibly converted existing tontine into annuities (excluding the consideration of other mortality credits) and, during the decade of the French Revolution (from 1789), payments in tontine were further devalued and devalued by the French government. In 1789, the English government published its last great ton, and its use decreased throughout Europe (although it has always taken place on a smaller scale for various public and private projects, including a « Hotel Tontine funded », which still bears the name!). But in the meantime, Milevsky`s book on « King William tontine » and the history of the tontine agreement is a compelling argument in favor of repatriation of tontines, both because the cost structure may be weaker for participants in tontine (without the guarantee of credit to mortality), the group can be consoled by the fact that , if they all live longer than expected, they participate in the « pain » of a drop in payments (which, given the inevitability, can still vary only so much). of death also with medical breakthroughs), and at least with the simple structure of a tontine, the source of each payment will be clear and transparent (which helps in everything from understanding the payment structure to monitoring and regulating tontine companies). All of this has a significant positive impact on the industry`s recent problems with variable pensions and its guaranteed withdrawal symptoms, not to mention the traditional long-term retirement for the old-fashioned… which is rarely bought, especially in today`s environment, unlike the much more popular tontines of yesteryear! A person in poor health may not be able to purchase individual life insurance. However, insurance often provides dependent survival policies, even if one insured is in poor health (assuming the other insured is healthier) because only one death benefit is paid and only the last insured dies. The more people pass, the larger the tontine payments to survivors (since the same total dividend is distributed among a small and small group of people), with the last few participants receiving extremely high dividends in their last years (especially compared to their individual investment of only $1,000). Louis XIV first made tontines in 1689 to finance military operations, when he could not find the money otherwise. The original subscribers each deposited 300 books and, unlike most subsequent schemes, it was executed honestly; the last survivor, a widow named Charlotte Barbier, who died in 1726 at the age of 96, received 73,000 pounds in her last payment.
   The British government first issued tontines in 1693 to finance a war against France that was part of the Nine Years` War.   For example, a couple could have a life together with the last life pension, which pays a monthly allowance of $2,000. After the death of a spouse, half of that $2,000 for the remaining spouse`s life can be re-divided to a third party beneficiary, for example. B a child.