lump sum
Plural
lump sums
1
a single, large payment made in full, instead of smaller payments made over time
- After winning the lottery, Sarah chose to receive her prize as a lump sum rather than in annual installments.
- The inheritance was distributed as a lump sum to the beneficiaries, providing them with immediate access to their share of the estate.
- Instead of monthly pension payments, retirees sometimes opt for a lump sum payout, allowing them more flexibility in managing their finances.
- The insurance company offered a lump sum settlement to cover the damages from the car accident, providing quick compensation to the injured party.
- Employees who resign from the company often receive a lump sum payment for their unused vacation days upon departure.