How to use lump sum in a sentence

Looking for sentences with "lump sum"? Here are some examples.

Sentence Examples It provided for a lump sum payment by the Husband to the Wife, in satisfaction of all claims which the Wife might have against the Husband. If you have an interest-only mortgage, you need to invest regularly to build up a lump sum to pay off your loan. The rebate is paid directly to the provider, or parents receive it in a lump sum at the end of the financial year. This amendment brought the necessary clarity on the taxation of such lump sum payments. It stated that the funds were to be used to secure the Retirement Benefits which were an annuity and a lump sum payment. Buying shares in your company can be a great way to turn monthly contributions into a juicy lump sum. At the end of the term, a pre-agreed single lump sum payment is made by the borrower to clear the debt. Instead of releasing a cash lump sum, the money is used to buy an annuity which pays out a regular monthly income for life. Second, lump sum payments are worked out on the basis of an assumed life expectancy. At retirement the worker can take the accumulated money as a lump sum or turn it into an annuity. However, when you die, your spouse would not be able to take anything left in the fund as a lump sum. Should you take a tax-free lump sum or use all the pension fund to buy an annuity? When he dies, his wife is usually guaranteed a lump sum or payment of income for five years only. You could also factor in your family using up a little of the lump sum capital each year. It invests the lump sum in an investment plan worth the same as your home, less charges. A lump sum is only achievable by taking a lower pension as a result, literally cashing in part of your retirement income. Furthermore one can also consider the fact that lump sum contributions to assurance policies usually attract fewer costs and commissions. If you have a lump sum to invest, you could open more than one account with your savings bank. Your taxable lump sum is taxed at your marginal rate of tax, either 20 per cent or 42 per cent. But you can take only 25 per cent as a tax-free lump sum and the rest has to be taken as pension. Show More Sentences Naturally, this assumes that you pay your bill monthly by direct debit and not via an annual lump sum. Many building societies have thrown off their mutual status, offering their members shares or a lump sum bonus in return. The budget is paid in a lump sum up front, so the practice knows where its money is coming from. They were forced to receive their payouts in monthly payments because the firm told them it couldn't afford to pay the cash in one lump sum. With a cashback mortgage, you receive a lump sum upfront, in return for agreeing to be locked in to a particular rate for a pre-set period. The wife could go back to court and argue for a large lump sum as he is not honouring the maintenance payments. However, in a surprise move, the bank said on Friday that it would also compensate anyone who had surrendered a policy by paying them a lump sum. In addition, she is requesting a lump sum payment in lieu of spousal support. Instead they are paid a pre-agreed lump sum at a pre-agreed date usually about eight years after making their initial investment. They are useful if you need a lump sum, perhaps to put down a deposit on a second home or buy-to-let. This policy pays a lump sum to the mortgage lender to pay off your home loan so your family does not get any cash payment directly. Bonded workers agree to sell their labour in exchange for a lump sum, perhaps to pay a big medical bill. A pension lump sum is payable to the estate, and therefore can be paid to a cohabitee named in the deceased's will. There is no tax relief on contributions but no tax is payable on receiving the lump sum. The plans are set up so that if you put in a specified amount of money, either periodically or in a lump sum, they guarantee to cover the cost. If you end up paying some income tax on your lump sum, you may be able to claim tax relief at the end of the tax year. You can still take the traditional route and, having drawn down your 25 per cent tax free lump sum, simply invest in an annuity. The argument for the latter advice being that an endowment policy pays out a lump sum on maturity. We enclose a draft Consent Order, which is based on a lump sum payment of damages. The best way to invest in a fund is usually to invest small amounts on a regular basis rather than one great big whopping lump sum. Show More Sentences When annuitants die, the income dies with them, and the life company that offers the annuity retains any surplus from the lump sum investment. An annuity, whereby the pensioner buys an income with a lump sum, can vary as well. The claimant could often convert the lump sum into an annuity, but this would take no account of a deterioration in health, for example. It stated that the funds were to be used to secure the Retirement Benefits, which were an annuity and a lump sum payment. When you take your tax-free lump sum you usually have to buy an annuity with the rest of your fund. The trustee claimed to be entitled to elect under the policy to commute part of the annuity for a tax free lump sum. In the case of most corporate pension plans, members can commute part of their pension for a lump sum, which may well be tax-free. Usually this benefit is a life assurance lump sum paid to the family of a pension scheme member on his or her demise. Many people buy life insurance that pays out a lump sum that replaces their income if they die. Instead, he is dangling before its recipients a lump sum that is difficult to argue with. No withdrawals are permitted during the five years and all the interest is payable in a lump sum on maturity. With life insurance, your dependents will get a lump sum payment if you die within the term. Instead, it's a form of insurance contract that you buy with a lump sum and which pays an income for life. If this occurs you may be able to pursue a lump sum compensation claim or to sue for compensation. In order to be able to offer the income, it had to invest the lump sum. If the full amount of the mortgage is being lent on a fixed rate, the mortgageholder usually can't pay off some of the capital balance using a lump sum. It provides a one-time lump sum payment if you're diagnosed with a serious illness covered by the insurance. Common law lump sum entitlements allow people to get on with their lives. To receive the net amount a predetermined lump sum will be deducted from this income. The amount of the lump sum is established by the Rules as a fixed amount per researcher and per year. Show More Sentences The use of lump sum and flat rate financing will be introduced gradually and if successful will be used more extensively. The trials are then broken down into stages and a separate lump sum is set for each stage. Alternatively, they can opt for a tax-free lump sum of 1.5 times their final pensionable salary and 50 per cent of this salary as a guaranteed income for life. He claims that Jazz City has offered to pay the money in installments, but that the Journal has declined, insisting that it be paid in one lump sum. This type of insurance is also known as critical illness cover and pays out a lump sum when the insured is diagnosed with a serious illness covered under the policy. If one commutes the pension to a lump sum, it is in general an eligible termination payment but it is not if one commutes it for the purpose of paying the surcharge. The once only lump sum payment that the assignor receives is not refundable if these risks should eventuate. You can have up to a quarter of the money as a tax-free lump sum. And people who qualify for the earned income-tax credit pretty much have to take it in an annual lump sum. He took his winnings in one lump sum and, at the urging of his financial adviser, invested most of it. In the end, however, no such request for a single lump sum is being made because it was thought that the chances of success were too remote. Therefore, the interest portion of the payment will be identified separately from the principal part of the lump sum payment. If the employer of the deceased offered life insurance through a group insurance plan, a lump sum of money will be available to survivors. The Government's been unwilling to change the system, instead urging families to overstate their income, or opt for a lump sum, not fortnightly, payment to avoid any debt. The right to this lump sum payment terminates in the event of his death, resignation or retirement. Some institutions were allocated a one-time lump sum for specific projects, while others received discretionary funding over several years. Buy-ins effected in the three years preceding retirement cannot be paid out as a lump sum. When a member retires under this unreduced early retirement provision, OMERS will determine the cost and the payment must be made by lump sum. A lump sum is paid and they switch to a different type of mortgage. The money was payable as a lump sum, quantified in advance, when it could not be foreseen what damages might have to be paid in the event of an accident. Show More Sentences After the usual checks and balances were performed, Tony received his payment in one lump sum wired to his account within a week of hitting the jackpot. Despite the smorgasbord of other programs that are available, there is a particular problem around the lump sum payment. Perhaps in an era of full employment the prospect of a generous lump sum and reasonable job opportunities still out there, the threat of no job is not so daunting. So a full-timer can vote away his part-time colleague's wages for what amounts to a lump sum he was already due to receive anyway. Mr. R pays for the supply of the future interment rights by making a lump sum payment. The lump sum turnkey contract includes engineering, procurement, construction, pre-commissioning, commissioning and start up. However, specialists explained that, even if the value of the award is calculated as a lump sum, it is always paid in instalments. Although cadets are paid a lump sum for their training, the six-month training period is no longer included in their pensionable service. In all these cases, the break-up fee has been shaped in the relevant agreement as a lump sum cost coverage. The education allowance can be made in either one or two lump sum payments over the two year period. Veterans are counseled about the importance of getting independent financial advice to assist them in managing their lump sum award. Many were told their endowment policy would repay a future mortgage and also produce an extra lump sum on top. Check with your lender to see if you can pay down your mortgage faster by maintaining or increasing your payments, or making a lump sum prepayment. You'll have to live on almost nothing, cashwise, but you'll gain a lump sum upon completion that can be applied to college tuition. The lump sum doesn't identify the actual drop in price for specific types of fertilizers, leaving some producers and dealers wondering if the price they're paying this spring is really fair market value. If someone other than the member's spouse, common-law partner or former spouse or common-law partner is the beneficiary, they may only receive a nontransferable lump sum payment. His wife, Julie, learns she will receive a lump sum death benefit. She will also get monthly payments to help replace her husband's lost earnings. Lump sum payments of that kind can be made to stabilise a budget, but now we need funds with strings attached, not lump sum payments on such a scale. The objective of an annuity contract is to ensure that the title holder, thanks to a lump sum amount, receives consistent or variable benefits for a given period. After Sylvia died, I didn't want our sons to be burdened with admin after my death, so I cashed in my life insurance policy and paid a £20,000 lump sum to the American cryonics company. Show More Sentences This option states that, upon your death, the death benefit payable to your beneficiary or beneficiaries, is paid as a non-commutable annuity or as a lump sum payment. It could well make sense not to accept a lump sum contribution to the purchase of the property but to accept a regular contribution to living expenses instead. Some will take a cash lump sum that better meets their needs than a level income stream, and some will reinvest in a pension drawdown fund and withdraw money later. They will be levied on the basis not of a lump sum but of mileage. Committee members were quite receptive to the comments of the veterans' ombudsman, who felt that this option would be tantamount to doing nothing since the vast majority of military members would take the lump sum amount. The minister acknowledged that there is a lump sum payment and ongoing help, other rehabilitative programs and the services that will help veterans reintegrate into civilian life. But if you missed making your full contribution in a previous year, you could have some catching up to do, and may want to consider borrowing to make a lump sum contribution to your RRSP in the current tax year. You are free from scrambling to buy lump sum investments at irregular intervals in an attempt to 'buy low and sell high' because your investments are automatic. He said that he was not a proponent of the lump sum payment because someone with psychological issues could spend it unwisely, waste money and not have a single cent to put towards their financial security. Such severance pay shall be paid on a lump sum basis and in the event the individual is recalled to work before the expiry of the number of weeks paid for, the unearned severance pay shall be refunded to Reuters. This reality is recognized in the Canadian Forces Member and Veterans Rehabilitation and Compensation Act, often called the new Veterans Charter, which provides a non-taxable lump sum to compensate for pain and sufferance. If the department finds that the after-effects will be permanent, a lump sum payment of the disability award will be made based on the severity of the disability. A new category has to be created in the Financial Perspective for entering free-standing financial aid, the so-called lump sum transfers agreed on in Copenhagen, into future Budgets. These standards do not apply where the right to receive a lump sum is not conditional upon medical certification, under legislation or plan provisions, even if the former member is known to be terminally ill. Small print in the Lloyds annual report shows that the new head of risk, Juan Colombás, received £3.1m in 2013 and is entitled to a lump sum of £718,996 when he reaches retirement age or leaves due to ill-health. The contract will later convert to a lump sum turn key contract. Like the witnesses, the Bloc Québécois believes that the concept of a lump sum payment is flawed and we ask for the lifetime monthly pension to be restored. We should give the regions affected a lump sum in aid and, instead of waiting for projects to be specifically formulated, we should declare the aid as such for the region. Instead of just making the 'gesture' currently being speculated on, we could act immediately to resolve the matter by paying a lump sum in order to settle all the claims once and for all. If the beneficiary is someone other than the spouse, the fair value of the remaining guaranteed benefits will be paid out to the beneficiary or to the heirs in one lump sum. Show More Sentences In particular, 40 or fewer weeks of maximum benefits could give the same wage boost but with a lower lump sum cost and hence also a shorter payback period. How much should Bridie take as a lump sum? Payments for a temporary period or a lump sum should also be possible. This amount will be paid to you as a lump sum. The difference between the two, in a case for example where a lump sum or transfer of property has been ordered, depends on the objective pursued by the authority making the order. Time limits, or lump sum orders, are common in these cases. Technip was awarded by INPEX CORPORATION a flexible pipe supply lump sum contract for the Ichthys gas field, in Australia. Firstly, the award of damages should take place in the form of a single lump sum payment. Many of the former daimyo, whose pensions had been paid in a lump sum, benefited greatly through investments they made in emerging industries. The group said the high 2000 figure was due to the large volumes of lump sum investments made before it announced plans to demutualise. The traditional socialist emphasis on egalitarianism suggests the preferability of equal distribution of social dividend as a lump sum subsidy paid to each household. After the formation of TAPI Ltd and execution of Novation Agreement, all subsequent retainers fee shall be paid in advance equivalent to six months retainer fee in lump sum. In the treaty Norway recognised Scottish sovereignty over the disputed territories in return for a lump sum of 4,000 marks and an annuity of 100 marks. Examples from Classical Literature My kind master, at my request, granted me a lump sum in place of my annuity. I propose to pay a lump sum on condition that you withdraw the suit at once. It was paid in a lump sum, and the repartition and levying were left entirely in the hands of the junta and the municipalities. This appropriation is not in a lump sum but by allotments or funds. I won their gratitude by buying out all the hogs at the lump sum of sixteen pennies, which was rather above latest quotations. All one has to do is to pay a lump sum down for the adventure furnished. The money was paid in a lump sum at the end of the engagement. Find more words! 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What is the opposite of lump sum? Words that rhyme with lump sum What is the plural of lump sum? Translations for lump sum Use our Sentence Generator Nearby Words lumpsucker lumps Lumpkin lumpish lumping lumpily lump-sum lumpy LUN luna Luna lunacy