Posts Tagged ‘lump sum’
A 'lump sum' is a large amount of money you pay or receive all at once rather than in increments over a period of time.
Examples: You will receive a tax-free lump sum of $50,000 at retirement age.
Would you like to repay the amount in installments or as one lump sum?
Did you know...? The origin of the phrase 'lump sum' comes from one of the meanings of the word 'lump', which is: 'not broken or divided into parts'. If we 'lump' people together, it means we put them together in a single group.