Yes, a savings plan can offer you a lump sum payout option. Most plans let you choose whether to receive your money as a lump sum or as regular income. Under the lump sum option, you pay premiums for a pre-determined number of years and then receive a guaranteed lump sum payment at the end of the term. On the other hand, under the regular income option, you pay premiums for a fixed term and then receive either monthly or yearly regular income for the chosen term.