David Korch brought resolution to a worker’s compensation case that appeared to have no probable end.

How can we reach a full resolution of a seriously injured worker who has much co-morbidity?  Use a structured settlement!

The 60 year old claimant, sustained a spinal cord injury when he fell, while stepping off a forklift at his place of employment.

The carrier’s large case medical unit did a complete review of his future needs and completed a life care plan showing future medical care to be $1,028,822 over his normal lifetime and $627,540 over his reduced life expectancy (includes possible attendant care and rated age).

His indemnity over normal life expectancy would be $883,844 and using his reduced life expectancy $267,265.

Settlement demand was $350,000 for the indemnity, a lump sum Medicare set aside with self-administration ($352,792 lifetime) and non Medicare lifetime of $676,080

Claim settled for $377,552.76 or 71% of rated age present value. The annuities included a monthly payment to the injured worker for life which was guaranteed for a minimum of 20 years, as a protection for his spouse. The expected lifetime payout of settlement equals $706,000, which reflects a compromise on the attendant care needs.