Can I Get Permanent Disability In A Lump Sum?
You may be entitled to a lump sum of permanent partial and permanent total disability benefits. Often, you can receive this lump sum without giving up your right to future benefits. Also, if your insurance carrier has admitted for permanent partial disability, you can often receive all or a portion of these benefits in a lump sum and still go forward with a claim for permanent total disability.
At the Eley Law Firm in Denver, attorney Cliff Eley has more than 30 years of experience helping Colorado workers deal with workers’ compensation claims. Our goal is to make sure each client has all the information necessary before making choices about workers’ compensation. Contact us today for a free consultation by calling us at 720-759-3064 or email us.
Learn About Your Rights And About Your Options
Even if you contest the amount of permanent partial disability benefit you are owed or disagree with your disability rating, you can receive up to $10,000 in a lump sum. This does not prevent you from getting a second opinion on your impairment rating, or from going to court to contest the amount of permanent partial disability benefits you are receiving.
If you agree to the amount of permanent partial disability benefits you are owed, you can receive up to $60,000 in a lump sum of those benefits. These benefits are discounted by 4 percent per year, in exchange for paying the benefits in a lump sum.
Unlike a settlement, accepting a lump sum does require you to give up future medical benefits. Depending on your situation, that may be a good choice for you. Talk to an attorney who is interested in what is best for you and your family.
Contact A Denver Workers’ Compensation Lawyer Today
An attorney experienced in Denver workers’ compensation claims can answer your questions and protect your rights. Call 720-759-3064 or email us today to discuss your case. Deciding on a lump-sum settlement may be in your best interest.