A fixed annuity is a type of annuity contract that provides a fixed rate of return on the invested principal over a specified period of time. A lump sum fixed annuity is an annuity that is purchased with a single premium payment and provides a guaranteed payout over a set period of time. There are several ways in which a lump sum fixed annuity may be paid out:

1. Immediate Annuity: With an immediate annuity, the payments begin right away. You receive a guaranteed fixed income for a specific period, usually for the rest of your life.

2. Deferred Annuity: A deferred annuity starts making payments at a later date, such as in 5, 10, or 20 years. Payments can be made over a fixed period of time, or for the rest of your life.

3. Fixed Period Annuity: With a fixed period annuity, you receive a fixed income for a predetermined time period, such as 10 or 20 years.

4. Life Annuity: A life annuity provides a fixed income for the rest of your life. This option is particularly popular with retirees who want a guaranteed income stream for as long as they live.

5. Joint And Survivor Annuity: With a joint and survivor annuity, two people can receive a fixed income for as long as they live. This is a popular option for couples who want to ensure that their surviving spouse will have a guaranteed income stream after the death of the primary annuitant.

6. Inflation-Protected Annuity: An inflation-protected annuity provides a fixed income that is adjusted for inflation. This option is particularly attractive for retirees who are concerned about inflation eroding the value of their fixed income over time.

7. Cash Refund Annuity: A cash refund annuity pays out a fixed income for the annuitant's lifetime, and if the annuitant dies before the total income received equals the initial premium paid, the remaining balance is paid out to the annuitant's beneficiaries.

These are some of the most common ways in which a lump sum fixed annuity might be paid out, but there may be other payout options available depending on the specific annuity contract. It is important to carefully review the terms and conditions of any annuity contract before making a decision.