A wrap account is an investment account where a "wrapped" fee or fees cover all of the management, brokerage and administrative expenses for the account. The fee or fees are generally based on the total market value of the investment account.

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An insurance product that promises a minimum rate of interest while your account is growing. The insurance company also guarantees that the periodic payment will be for a set amount for a fixed period, such as 20 years, or an indefinite period, such as your lifetime.

An annuity is a contract between you and an insurance company that is designed to meet retirement and other long-range goals, under which you make a lump-sum payment or series of payments. In return, the insurer agrees to make periodic payments to you beginning immediately or at some future date. Alternatively, you may choose to withdraw your contract’s value as a lump sum payment, although doing so may subject you to surrender charges, taxes, and tax penalties.

A payment of a sum of money at one time, such as an inheritance. 

Lump sum payments can also be referred to as lump sum payouts or financial windfalls. A lump sum payment can come in the form of a bonus from your job, an insurance claim or settlement, a tax refund, an inheritance, or even winning the lottery.