(a) Upon application of either party, the Commissioner may authorize compensation to be paid monthly or quarterly instead of weekly, having regard to the welfare of the employee and the convenience of the employer.

(b) Upon application of the employee, if the Commissioner finds it to be in the best interest of the employee or the employee's dependents, the Commissioner may order the payment of permanent disability benefits pursuant to section 644 or 648 of this title to be paid in a lump sum.

(c) Unless otherwise requested by the claimant, an order for a lump sum payment of permanent partial or permanent total disability benefits or a lump sum settlement of a disputed claim shall include a provision accounting for excludable expenses and prorating the remainder of the lump sum payment in the manner set forth by the Social Security Administration in order to protect the claimant's entitlement to Social Security benefits. (Amended 1999, No. 97 (Adj. Sess.), § 2; 2005, No. 212 (Adj. Sess.), § 7, eff. May 29, 2006.)