Lump sum

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Lump sum

A large one-time payment of money.

Lump Sum

A large amount of money one spends at once, especially to make a large purchase. For example, if a house costs $175,000, and the buyer pays the total amount up front, the buyer is said to make a lump sum payment.

Lump sum.

A lump sum is an amount of money you pay or receive all at once rather than in increments over a period of time.

For example, you buy an immediate annuity with a single lump-sum payment. If you receive the face value of a life insurance policy when the insured person dies, or receive the full value of your retirement account, those payments are also lump sums.

References in periodicals archive ?
The punitive 55% tax charge that currently applies to lump sum death benefits paid from drawdown arrangements will be abolished altogether.
There was talk of 'the second death of annuities' following the announcement; however, annuities with lump sum death benefits, such as value-protected annuities, will benefit from the changes.
It seems as if the large real dollar numbers of lump sum payouts mesmerize folks heading into retirement.
An alternative could be to take the money in annual lump sums.
Taking a lump sum of pounds 7,500 would reduce his yearly income to pounds 1,366.
Someone who invested pounds 50 a month into the average investment trust during the year to the end of April would have seen the value of their holding fall by seven per cent to pounds 558, considerably better than the 30 per cent loss to pounds 419 suffered by someone who invested a lump sum of pounds 600 in April 2008.
People who are interested primarily in reducing VA's workload and reducing government spending with total restrictions on reopening claims and deeply discounted lump sums have seen this as an attractive and easy way to do that," Violante said.
Mr Smith said: "Since April 6 anyone over 50 will have the option of taking 25 per cent of their pension as a tax-free lump sum, whatever pension scheme they belong to, including a protected rights pension, AVCs and FSAVCs.
Moreover, if the recipient dies, heirs have access to the remaining lump sum, while structured settlement payments often stop at death.
SIRVA's Lump Sum Xpress offers employees the information they need to relocate in one convenient spot.
In a report for the thinktank CentreForum, he said people should be able to withdraw any lump sum they had built up - to a limit of pounds 10,000.
Replacing monthly disability compensation payments with a one-time, lump sum payout, as some have suggested, might save the Department of Veterans Affairs money and reduce the claims backlog, but would it be good for veterans?