In many cases, an insurer and injured worker will agree to settle a case through a Lump Sum Settlement. This one-time payment is made in place of weekly compensation checks and certain other benefits. Under the workers' compensation law, employers with an experience modification that could be affected by the settlement must give a written consent for the settlement between the insurer and the employee.
Lump Sum benefits
A lump sum is a settlement or contract between you, the insurer, and in some cases your employer. This one-time payment may be made in place of your weekly compensation checks and certain other benefits. In accepting a settlement, you give up certain rights, so you must carefully consider whether or not settling your case is in your own best interest. No one is entitled to a lump sum; you and the insurance company must agree to it.
We have Lump Sum Brochures further explaining your rights; if you can not download it from our website, please call, 617-727-4900, ext. 7470, or email email@example.com, and send a message to our Public Information Office to have one sent to you through regular mail or email.