an amount of money that is paid in one payment as opposed to a structured settlement which is paid out over a period of time in several payments
A lump sum cash payment is a single- or double-payment merit award used to recognize a high level of performance by individuals with base salaries significantly above the market value.
1. Payment other than salary or wages made when the member leaves work. Includes payoffs of accrued vacation and sick leave and any other special payments made when a member leaves employment. 2. A one-time benefit payment to the member. 3. A single payment to purchase the full cost of credited service.
a benefit paid all at once, not in regular installments.
a fixed benefit equal to the coverage amount determined upon issuance of a critical illness insurance contract
a one-time only payment such as an insurance settlement, an inheritance, lottery winnings, or retroactive Social Security benefits
In a disability Buy-Sell policy, benefits are usually payable in a Lump Sum at the trigger (or effective) date of the buy-sell. The trigger date is the day following expiration of the Elimination Period