Each year we receive hundreds of Future Cost of Care Reports and Life Care Plans in order to provide annuity valuations of the requirements in those reports, to assist negotiating parties in the resolution of personal injury claims.

Depending on what is needed, we provide valuations from a tort perspective and/or an Accident Benefits (AB) perspective.  When preparing AB valuations, we take into account the Professional Services Guideline (PSG) hourly maximums, total limits for each benefit, mileage restrictions, etcetera. 

When preparing a future care valuation, we ask for the following information:

• Confirmation of whether the valuation is required for purposes of AB or tort negotiations, or both.
• If AB, confirmation of any amounts paid so far by the insurer for Medical and Rehabilitation benefits and Attendant Care benefits.  This allows us to determine the funds remaining in the available limits of AB coverage.
• For the more complex reports, additional clarification may be required, and once we have reviewed the material thoroughly, we may be in touch with a few questions.

Our Future Care Specialist will undertake a thorough review of the entire report.  This review includes:

• Confirming each individual item and service set out in the report,
• Verifying the accuracy of each cost based on the descriptions, start/end dates, and replacement frequencies, before using those figures in our valuation, and;
• Confirming the accuracy of any mathematical calculations in that report. 

Once the review is completed, we will then provide a detailed valuation using current structured settlement annuity quotations that take into account any life expectancy impairment ratings we have for the injured person.

The end result is a detailed breakdown of the amount of funds required today, to produce every individual item and service outlined within that particular Future Care Report or Life Care Plan.

Typically we ask for two weeks to prepare this type of in-depth analysis, though we understand if you require our valuation on a more urgent basis.

This is just one of the many services we provide to plaintiff counsel, insurance counsel, or insurance company representatives – all at no charge!

If you think a Future Care Valuation might be of assistance on one of your files, contact us.