A "lump sum" refers to a single payment of money rather than a series of smaller payments. It is often used in financial contexts, such as when discussing investments, insurance payouts, or the payment of debts. The idea is that instead of receiving money in installments over time, one receives everything at once in a single amount.
The term "lump sum" combines two words: "lump," which comes from the Old English "lymp," meaning a piece or mass, and "sum," which originated from the Latin "summa," meaning the total amount. Together, they reflect the idea of a total amount given as one piece rather than broken down.