With regular life insurance, you bet you'll die.
With a tontine, you bet you'll live.
The latter seems much more sensible to me.
With a tontine, you bet you'll live.
The latter seems much more sensible to me.
Life insurance is for the Husband/Wife, Daughter, and Son you left behind to replace the income you used to support them with and pay for the (abhorrently and unethically expensive) process of putting you in the ground in most places.
It's the lottery you don't ever want to win.
Most people do lots of things that don't benefit themselves to the exclusion of all others.
One problem is that everyone else in the tontine is betting you don't and sometimes are willing to act on that.
A good example is that the collapse of Swiss Air created am accidental Tontine among its pension beneficiaries. Rather than trying to bump each other off, they meet up every year to hear to jointly toast the good news about their rising income: https://tontine.com/news/swissair-the-accidental-tontine/
With a tontine, everybody else bets you’ll die.
Perhaps it's better to say that:
"With a tontine, others of the same age and sex bet that you’ll die before them".