Lump sum award 2026

See details

4.8 out of 5

48 votes

The document is an application form for workers seeking approval for a lump-sum payment of their permanent partial disability (PPD) award. It includes sections for the worker's personal information, details about the injury and claim, and options for requesting either a full or partial lump-sum payment. The form also outlines the implications of accepting such payments, including the waiver of the right to appeal the award amount. Additionally, it provides contact information for assistance and instructions for insurers regarding objections to lump-sum payments.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to use or fill out lump sum award with our platform

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Click ‘Get Form’ to open the lump sum award application in the editor.
Begin by entering the insurer's name, address, and phone number at the top of the form. This information is crucial for processing your request.
Fill in your personal details: worker’s name, address, date of injury, claim number, and attorney's name. Ensure accuracy to avoid delays.
Indicate the mailing dates of the order that described your Permanent Partial Disability (PPD) award and specify the amount of your PPD award in dollars.
Select whether you are requesting a full or partial lump-sum payment. If partial, clearly state the amount you wish to receive upfront.
Sign and date the form at the bottom to confirm your understanding of giving up appeal rights upon acceptance of a lump-sum payment.
If applicable, ensure that any objections from the insurer are noted and returned within 14 days as per regulations.

Start using our platform today for free to streamline your document editing and submission process!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What does a lump sum mean?

A lump sum is an amount of money you receive all at once, rather than in smaller instalments.

What is an example of a lump sum?

A lump sum payment is a single, one-time payment of a full amount of money, instead of being paid in smaller, periodic instalments. This concept applies to various financial transactions, such as receiving a lottery winning, a retirement benefit, or making a one-time investment into a mutual fund or a fixed deposit.

What is a lump sum compensation payout?

Lump-sum settlements are a common way to settle a workers comp claim, and theyre also the simplest. When you accept a lump-sum payment, the insurance company sends you a check, and the case is finished. Lump-sum payments are recommended for small or medium-sized settlements of $150,000 or less.

What is the lump sum prize?

A lump sum payout is an option you choose after winning the lottery that gives you access to the cash value of the prize in a single payment.

What is a lump sum award?

Lump-Sum Award means any cash award paid as a merit increase in lieu of an increase in base salary received during the twelve (12) month period immediately preceding the Participants Termination Date.

What are the disadvantages of a lump sum?

Pros and Cons of a Lump Sum Additionally, your heirs will receive any funds that remain in your account when you die. However, youll need to decide how you want to invest your money, which can expose you to market volatility. Youll also need to craft a withdrawal strategy to ensure you dont run out of money.

What is lump sum compensation?

Compensation lump sums are paid for a personal injury or illness resulting from a compensable event.

Lump sum award 2026

Here's how it works