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5.11.1 Options for Conversion of Periodic Payments to Lump Sum

Depending upon the weekly amount of compensation payable, claimants may be entitled to take all of their PI as a lump sum, or part as a lump sum and part as a periodic payment.  A person's payment options are as follows:

Percentage of Maximum Weekly Compensation to which the Claimant is Entitled

Payment Options

Under 10%

None, either 100% lump sum or periodic payments.

10% to 20%

50% lump sum, 50% periodic payments

or

either 100% lump sum or periodic payments.

Above 20%

25% lump sum, 75% periodic payments

or

50% lump sum, 50% periodic payments

or

75% lump sum, 25% periodic payments

or

either 100% lump sum or periodic payments.