That's no guarantee you will receive benefits for life, you have to file a yearly report of income.
My Award letter states i will receive my payments until death or im better
The carrier will file a Petition for Rearrangement - they'll claim your condition has improved or you have a newly acquired work skill, they'll put you through hell.
The insurance carrier will review this type of award on a yearly basis, sending the disabled worker an Annual Report of Income.
Both the disabled worker and insurance carrier have the right to file a Petition for Rearrangement. This petition requests the Industrial Commission of Arizona (ICA) to review the previous award and determine whether the monthly benefits should remain the same, increase, decrease or cease.
Petition for Rearrangement Form
It's impossible to determine "the whole value of the claim" you have no idea of how long you're going to live.
The 80% was for the whole cost of the claim. But i see your point of it being ridiculous but so is 5 yrs.
These guys aren't about to pay you benefits for life without putting you through hell.
After a few years of the games, you'll be begging them to settle for five years of benefits.
I'm not trying to be a hard ass but I do tell it like it is, I'd rather you brace for the worst and hope for the best.
You better have a sit down with your lawyer - you need a reality check.
Moderator Responses are based on my personal bias, experience and research - they may not be accepted in the legal community, always consult an attorney.