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If you (the worker) have a permanent impairment as a result of a work related injury or illness, you may be entitled to receive a lump sum payment as compensation. This is in addition to weekly payments, medical and related expenses that may generally be available through the workers compensation system.

The impairment rating is then multiplied by 450 to determine how long your benefits will be paid (this is called the “compensation period”). The compensation period is then multiplied by 66 2/3% of the average weekly wages you received pre-injury (subject to the state maximum).

For workers' compensation cases arising in Tennessee, the statute of limitation is generally “one (1) year after the accident resulting in injury,” according to Tenn. Code Ann. § 50-6-203.

Compensation Rates DatesMini Rate% of Avg Wk Wage for Temporary7/1/21 - 6/30/22$159.00110.00%7/1/20 - 6/30/21$149.10110.00%7/1/19 - 6/30/20$144.00110.00%7/1/18 - 6/30/19$139.35110.00%29 more rows

The entire settlement process—from filing your claim to having the money in your hands—can take around 12-18 months depending on the details of your case and whether or not you have legal representation.

Generally, the value of your workers' compensation claim will increase if you require surgery, as it indicates a more serious injury. Because some workers' comp settlements may be considered final, it may be better to settle your claim after you have surgery and have reached maximum medical improvement (MMI).

When the injury has healed and maximum medical improvement (MMI) is reached, the injured employee will likely be released from the treating physician's care.

Compensation Rates DatesMini Rate% of Avg Wk Wage for Temporary7/1/19 - 6/30/20$144.00110.00%7/1/18 - 6/30/19$139.35110.00%7/1/17 - 6/30/18$135.30110.00%7/1/16 - 6/30/17$133.20110.00%29 more rows

To calculate the correct amount of Permanent Partial Disability (PPD) benefit, impairment rating percentage is multiplied by the maximum number of weeks assigned to the specific member of the body or body as a whole.

A lump sum payment is often associated with a single amount paid to acquire a group of items. For instance, a corporation might pay $50,000 for the inventory and equipment of a small manufacturer that is going out of business. The transaction did not specify any further details. The $50,000 is a lump sum payment.