Business and Personal Finance Dictionary

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 

• LUMP SUM
  
  A lump sum is 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. Similarly, if you receive the face value of a life insurance policy when the insured person dies, or get a check for the full value of the assets in your retirement account, those payments are also lump sums.
  
  Back