Missouri’s Western District Court of Appeals reversed an earlier lower appellate decision of the Missouri Industrial & Labor Relations Commission and approved the conversion of a lifetime workers’ compensation settlement for permanent total disability to a lump sum payment to the injured worker that was 49% of the present value of the settlement as stretched out over the worker’s expected lifetime. The Commission had earlier ruled that such a lump sum conversion should not have been allowed, even though the injured worker agreed with the workers’ compensation insurer who made the payments and was represented by an attorney. The worker and his lawyer obviously were well aware that he was agreeing to accept just under half his potential expected lifetime benefits paid in monthly installments in order to get a payment of his benefits in one lump sum paid now. The name of the case is Hinkle v. A.B. Dick.
It is important to understand that his former employer’s workers compensation insurance company that had been paying him monthly benefits in installments was agreeable to this conversion of his monthly-paid benefits to a final lump sum of just under half his expected lifetime benefits paid monthly. If you have any questions regarding your rights under Missouri’s workers’ compensation in the greater St. Louis area (St. Louis City & St. Louis County, St. Charles County, Jefferson County, Franklin County, Lincoln County and surrounding counties in eastern central Missouri, please feel free to call or e-mail us at St. Louis Workers Compensation Center at any time and we will get back with very soon with answers to your questions. (See Contact Us)