Tuesday, 10 July 2007 21:58
Personal injury can be caused in an accident: in the traffic, during sporting, at home, at school or at work. Injury can also be caused by medical mistakes, or criminal offenses. Victims of personal injury may be entitled to compensatory damages, if the injury was caused by someone else or if the event are covered by an insurance.
Usually the damages are suffered on a yearly basis but the compensation payment is a once-off payment. This calculator computes this once-off payment from yearly differences in income and expenses between the situations with and without the injury.
For the years after receiving the once-off payment the calculator shows a graph with the remaining amount for every year. The calculator also shows a second graph with yearly amounts that should be paid if the compensation is paid on a yearly basis.
See the example calculation for the personal injury calculator. See also the tab Instructions and the following remarks.
See also the example
of the use of this calculator.
- Enter the number of years to be considered by the calculator. Often this is the remaining life expectancy, see also the life expectancy calculator.
- Enter your income and expenses just after the injury in the fields New income and New expenses.
- Enter the income and expenses that you would have without the injury in the fields Original income and Original expenses.
- Enter the inflation and interest rates into fields Inflation rate and Interest rate.
- Enter the percentages for the wealth tax and the tax on received interest in the fields Wealth tax and Tax on received interest
- The difference between the situation where the injury did not happen and the situation with damage due to the injury can change over time. For example the difference is likely to change when you retire. These situation changes can be entered by adding income and expense data in the rows in the table at the bottom of the calculator. New rows can be created by clicking on the plus (+) sign.
- Finally click on the button Compute. The result is the total damage and appears after the text Total damage..
- After the computation you can click on the tab Diagrams. The first graph shows for each year the remaining amount of the total damage. The second graph shows the yearly damage.
- With the button Save input data you can save your input data. You can import the saved data later and redo the computation. After clicking a new window/tab appears. Save this page from your browser into a file. To reimport the contents of this file you load the file into a text editor, and paste the contents it into the field in the tab Input from HTML. Finally click on the button Import data in the same tab.