| || |
| || |
Indemnity payments for a person who is totally permanently disabled are set at the same rate as total temporary disability indemnity payments. Payments are made for the remainder of the injured person's life.
Don't struggle with trying to work with complex tables or invalid computer programs. Let us make the Present Value Calculations for your cases.
If you are a customer of Med-Legal, then you've already chosen the right copy service. Just ask us!
Thirty Thousand Reasons to Go
With a Med-Legal PV Rating.
In a recently settled case, the DEU Rater made several errors and our PV report got the attor- ney over $30,000 in additional attorney's fees. > MORE
Don't struggle with the tables or computer programs.
You get prompt, easy-to-use results For more info, call us at (800) 244-3495 and ask for the Present Value Calculation Department, or fax (800) 962-4896 or email us with the data.
Attorney Fee Based Upon Present Value
Case Number: ADJ2140141
Date of Commutation (DOC): 3/1/2010
Date of Birth: 10/12/1984
Date of Injury: 11/3/2006
Permanent disability rating percent: 71%
Weekly earnings: $580.05
Permanent and stationary date: 12/1/2007
Interest discount percentage per annum: 3%
SAWW predicted future rate: 4.66%
Age at date of commutation: 25.39
Permanent Disability (PD)
Total payout of PD: $121,297.50
Total weeks of PD :449.25
Weekly rate of PD: $270.00
Amount due that has or should have been paid by DOC: $31,705.71
Weeks From P&S to DOC: 117.43
Remaining Weeks of PD: 331.82
Present Value of Remaining Weeks of PD: 302.33
Present Value Remainder of PD: $81,628.56
Savings on PD if settled: $7,963.23
Total present Value of PD at DOC: $113,334.27
Life Pension (LP)
Date of start of life pension payments: 7/11/2016
Age at start of life pension payments: 31.75
Rate of payment of LP at DOI: $85.04
Payment Increases based on SAWW Start: January 1, 2007
SAWW last year available: 2006 U.S.
Life Table used: 2000
Present value of life pension at DOC: $368,386.34
Total Present Value of total PD and LP: $481,720.61
Percentage Attorney Fee: 15%
Attorney Fee on amount due at DOC: 15% of $31,705.71=$4,755.86
Attorney fee on present value of remainder of PD 15% of $81,628.56=$12,244.28
Attorney fee on present value of remainder of LP 15% of $368,386.34=$55,257.95
Total amount of attorney fee as lump sum now due: $72,258.09
Amount of fee deducted from amount due: 0
Estimated weekly deduction from PD remainder
for $12,244.28 + $4,755.86= $56.23
Starting Weekly Life Pension Compensation rate: 128.13
Starting Weekly deduction for attorney's fee*: 19.22
* This is the predicted weekly reduction for attorney fee from the predicted (starting) weekly payment. This considers that no attorney fee on Life Pension has been paid and that Uniform Increasing Reduction(UIR) method is used. The payment and deduction in future years are increased by the percentage increase in the SAWW.