When you're on WorkCover and receiving weekly payments due to a workplace injury, the idea of applying for a lump sum payment might seem like a financial lifeline.
However, many workers hesitate, fearing that taking this step might jeopardize their ongoing weekly benefits. It's crucial to dispel this myth and provide clarity. Here's what you need to know about how applying for a lump sum will not affect your current WorkCover weekly payments.
The Myth of Disruption
There's a common misconception that applying for a lump sum payment will somehow reduce or stop your ongoing weekly payments from WorkCover. This myth can cause unnecessary stress and hesitation for many who are already dealing with the repercussions of a workplace injury.
Legal Protections and Assurances
Under the Workers' Compensation and Rehabilitation Act 2003, there are clear protections and provisions in place. These laws are designed to ensure that your current status of receiving weekly payments remains unaffected if you decide to apply for a lump sum. This isn't just a promise; it's your legal right.
Why Your Weekly Payments Remain Untouched
The system understands that weekly payments and lump sum settlements serve different purposes and are treated as separate entities. Weekly payments are designed to replace your regular income for the time you're unable to work. In contrast, a lump sum is typically a one-off payment that might be awarded for permanent impairment or other specific criteria set by the legislation.
The Process of Applying for a Lump Sum
Applying for a lump sum usually involves a separate assessment process where factors like the degree of permanent impairment are considered. This process is distinct and doesn't intersect with your ongoing weekly payments. So, while your application for a lump sum is being considered and processed, your weekly payments should continue as usual.
Why It's Worth Considering
For many, a lump sum can provide a sense of financial relief and security for the future. It might cover long-term medical costs, rehabilitation, or adjustments to living arrangements due to the injury. Knowing that this can be pursued without affecting your weekly income can provide peace of mind and financial stability.
Conclusion: Your Right to Fair Compensation
If you're receiving weekly WorkCover payments and considering a lump sum, remember that your current financial support won't be compromised. It's your right to explore all the compensation avenues available to you without fear of losing what you're already receiving. As always, it's advisable to seek advice from a payment professional (not a lawyer) to guide you through the process and ensure you're making informed decisions about your compensation and future.
Remember, understanding your rights and options is the first step towards securing the support and compensation you deserve.
Get More Inside Information on Lump Sums
Watch this video from our Premium Inside Information Portal that guides workers on how to fully access and accelerate all lump sum payments, especially if they are curious about whether they are eligible.
