Social Security Questions? Ask a Social Security Expert
You would only receive sump benefits if you applied - but your application took long time to be approved.
So - you would receive benefits for several years.
Otherwise - there is no lump sum benefits from teh Social Security Administration - and there is no May 1 2016 deadline for that.
You might confuse with teh new law which effectively eliminates a file and suspend option - but there is no lump sum benefits there.