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Application For Division Approval Of Change In Payment Period And Or Purchase Of Annuity For Death Benefits DWC-31 - Texas
| Application For Division Approval Of Change In Payment Period And Or Purchase Of Annuity For Death Benefits Form. This is a Texas form and can be used in Carrier Workers Compensation . |
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Please return this form to: TEXAS DEPARTMENT OF INSURANCE DIVISION OF WORKERS' COMPENSATION Customer Services, MS-602 7551 Metro Center Drive, Suite 100 Austin, Texas 78744 CLAIM # _____________________________________________ Carrier's Claim # _______________________________________ APPLICATION FOR DIVISION APPROVAL OF CHANGE IN PAYMENT PERIOD AND/OR PURCHASE OF AN ANNUITY FOR DEATH BENEFITS 2. Employee's Social Security Number 4. Employer's Business Name 6. Beneficiary's Name 1. Employee's Name 3. Date of Injury 5. Insurance Carrier's Name All applications for Division approval of a change in the payment period for death benefits are subject to the Texas Workers' Compensation Act, Texas Labor Code, ยง408.181 through 408.184 and Rules 132.1 through 132.12 and 132.15 through 132.16. CHECK ALL BOXES THAT APPLY: We request the Division to approve a change in the payment period from weekly to monthly for death benefits. The weekly compensation rate must be multiplied by 4.34821. Proposed Monthly Benefit $ . Payment of monthly death benefits must be issued on or before the seventh day of the month for which benefits are due. The carrier will purchase an annuity to pay death benefits. The carrier will ensure that the payments comply with the requirements set forth in Rule 132.16, Change in Payment Periods; Purchase of Annuity for Death Benefits. (See reverse side.) Payment of death benefits must be initiated no later than the 45th day after the date on which the application is approved by the Division. Payments will be made by: Payor's Name ____________________________________________________________ Mailing Address ___________________________________________________________ City, State, Zip ____________________________________________________________ 1) 2) 3) The workers' compensation carrier will remain ultimately liable for payment of the benefits. A separate application to change the frequency of payments must be submitted for each eligible beneficiary. A payment adjustment must be made when there is a change in an individual beneficiary's eligibility status in accordance with the provisions of the Texas Workers' Compensation Act. A completed Employer's Wage Statement (DWC FORM-3) must be filed with this application if less than the maximum weekly death benefit in effect at the time of death is being paid. DIVISION APPROVAL: Authorized DWC Employee's Signature _______________________________________ Date______________________ X Signature of Representative of Beneficiary (if any) X Signature of Beneficiary X Signature of Carrier Representative Printed Name of Representative of Beneficiary I have read this application or have had it read to me by someone of my choice, and I understand and agree to its terms. Printed Name of Carrier Representative ( ) Telephone Number of Carrier Representative APPROVAL NOTICES WILL BE MAILED TO TYPED OR LEGIBLY PRINTED ADDRESSES BELOW (ALL BLANKS MUST BE COMPLETED) Representative of Beneficiary (if Any) Beneficiary Insurance Carrier Mailing Address Mailing Address Mailing Address City, State, Zip City, State, Zip City, State, Zip SEE REVERSE SIDE DWC FORM 31 (Rev. 10/05) Page 1 DIVISION OF WORKERS' COMPENSATION American LegalNet, Inc. www.USCourtForms.com INFORMATION SHEET DWC FORM-31, Application for Division Approval of Change in Payment Period and/or Purchase of an Annuity for Death Benefits Upon the request of an eligible beneficiary entitled to death benefits, the insurance carrier and eligible beneficiary may agree to change the frequency of death benefits payments from the standard weekly period to a monthly period. The Division must approve the application to change the frequency of death benefits payments. Monthly Payment of Death Benefits by Insurance Carrier The following are requirements in rule 132.16 for a written agreement that the workers' compensation insurance carrier will issue monthly payments of death benefits: a. the agreement for the monthly payment will be effective the first calendar day of the month following the month in which the written agreement was approved by the Division; b. c. d. payment of monthly death benefits shall be issued on or before the seventh day of the month for which benefits are due; weekly death benefits payments must continue through the end of the month in which the agreement was approved; payment of the last week of death benefits to transition from weekly payment of death benefits to monthly payments shall be prorated to the end of the month to ensure the eligible beneficiaries receive death benefits through the last day of the month; and the monthly compensation rate must be calculated by multiplying the weekly rate by 4.34821. e. With the exception of payments made by annuity under Rule 132.16(d), at any time after signing the agreement for the monthly payment of death benefits, the eligible beneficiary or insurance carrier may notify the other party in writing that it no longer agrees to the monthly payment of death benefits. The last monthly payment shall be prorated to ensure the insurance carrier pays the appropriate amount of death benefits. In this case, the insurance carrier shall pay all accrued but unpaid death benefits at the end of the current monthly cycle to ensure the insurance carrier pays the appropriate amounts of death benefits weekly as and when they accrue and are due. Payment of Death Benefits by Annuity An eligible beneficiary entitled to death benefits and the insurance carrier may enter into a written agreement for the purchase of an annuity to pay death benefits. All applications must be submitted to the Division for approval. If less than the maximum weekly death benefit in effect at the date of death is being paid, a completed Employer's Wage Statement must be filed with the application. An annuity for the payment of death benefits shall meet the following terms and conditions: (1) (2) Monthly death benefit payments shall be initiated no later than the 45th day after the date on which the written agreement was approved by the Division. The company providing an annuity for the payment of death benefits must be licensed to do business in Texas and must have a current A. M. Best rating of B+ or better or have a Standard & Poor's rating of claims paying ability of A or better. The workers' compensation insurance carrier must guarantee the payments provided by the annuity company in the event of default. When benefits are paid to an eligible spouse of the deceased employee
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