If you have been injured at work and are entitled to workers’ compensation benefits, you may be offered the opportunity to receive a one-time, lump-sum payment rather than ongoing weekly payments over a specified time period. This opportunity is part of the New York State Workers’ Compensation Law called Section 32.
Accepting this type of settlement may be more beneficial than taking weekly payments, but that is not always the case. You’ll need to do a careful analysis of your future lost-wage and medical benefits to determine if it is right for you.