Death benefits payable to dependents are based on what percentage of the average weekly wage?

Death benefits payable to dependents under Colorado worker's compensation laws are typically calculated as a percentage of the average weekly wage of the deceased employee. The correct choice of 66 2/3% represents the standard rate at which these benefits are structured to provide financial support to the dependents after the loss of income due to the worker's death.

This percentage ensures that dependents receive a substantial portion of the worker’s earnings, helping to maintain their standard of living during a challenging time. It reflects the legal framework in place to protect the families of workers who have suffered fatal accidents or illnesses related to their job. The rate is specifically designed to balance the need to provide adequate support while also being sustainable for the insurance system.

Understanding this percentage is essential for anyone studying insurance producer licensing, as it directly relates to the calculations and responsibilities of insurers when processing claims related to workplace fatalities.