The number of years for a commutation depends on the reason for the commutation. If you are attempting to find the present value of a 100% award (temporary total disability rate for life), then the number of years would be based on your life expectancy. However, if the commutation is only of a partial amount necessary to achieve some financial objective that is in your "best interest" such that a commutation order is justified, then the number of years depends of the amount dollars under consideration and your temporary total disability rate. Any 100% case is serious money, and you may best well be served (for your own protection) to retain the services of a competent workers' compensation attorney. Good luck.
Any person who makes or causes to be made any knowingly false or fraudeulent material statement or material represetation for the purpose of objtaining or denying wokres' compensation benefits or payments is guilty of a felony.
Since you know about the DEU, let's make this simple. The DEU has a form on which you can ask them to do the commutation calculation. They will (usually) do it right and it's free. Talk to the information and assistance officer at the Anaheim office of the WCAB for help with this.
It is not quite as easy as figuring out old you are today. If you are 50 now, it will no doubt be more than if you are 70. However, if you have poorly controlled diabetes at 60, you may get less than if you were 65 and healthy. The Carrier also gets a 3% discount on the amount you bring forward, and any remaining payments will be reduced. In short, there are a lot of moving parts and the DEU or a Certified Specialist in WC would be your best choices. The DEU is free, but the WC Attorney could help you turn the Future Medical into money if you settle as well.
We offer general concepts, but you should give ALL your facts to a licensed Attorney in your state before you RELY upon any legal advice.
The life expectancy tables will be used. But, to figure present vale the discount rate is most critical. The insurer will always try and use a very high discount rate to reduce he present value.
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