Definition of
lump sum
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1.
repaid in one installment used to describe a loan that is repayable with one installment at the end of its term.
Related definitions of "lump sum"
- See also balloon loan, interest-only mortgage
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2.
money received in single payment an amount of money received in one payment, for example, the sum payable to the beneficiary of a life insurance policy on the death of the policyholder
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