Definition of Lump sum:
Single large amount; not consisting of several smaller amounts or installments.
A single payment made at a particular time, as opposed to a number of smaller payments or installments.
Price of an entire lot, or group of goods or services, where no breakdown is give for individual items.
How to use Lump sum in a sentence?
- When the widow collected her husbands life insurance benefits, she had the option to collect all of it at once, in a lump sum , instead of receiving a monthly check for 20 years.
- Your pension plan can provide a cash lump sum at retirement as well as a regular income.
- We would pay for the car in one lump sum , which was great because it would mean that we would not pay anything more on it.
- The lump sum payment was to be expected by the contractual obligation that was enforced by the state so we could rely on that cash deposit.
Meaning of Lump sum & Lump sum Definition