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The only lump sum payment is for beneficiaries in between of full retirement age and age 70 should they chose to delay payment or to file and suspend payments.
There is no lump sum payments for us to take out after age 70. The purpose of social security is to help us to sustain years of retirement. A lump sum payment can cause us not have money to live on later after the money is gone. Therefore, there is no such option for us.
I saw your second posting. It is good that your family at least has two social security income.
Please feel free to follow up.
Fiona Chen, MPA, Ph.D., CPA, ABV, CFF, CITP