A lump-sum payment is a monetary sum paid in one single payment instead of allocated into installments. Lump sums are ...

which is the life expectancy Social Security’s calculator assigns to a 65-year-old male. In this situation, the monthly pension benefits total $208,620, slightly more than the $200,000 lump sum.

The earlier you would receive a lump sum payout, the more it will be worth to you in retirement. On the other hand, the longer you live to collect monthly payments, they can add up to be higher ...