Dealing with Permanent Disability And Settlements For Your Workers' Compensation Case
Did you get injured on the job and currently receive workers' compensation? If so and you have a permanent disability as the result of your injury, you may be wondering whether settling your claim is ideal. Many people with permanent impairments from work injuries ponder the same question. Some people make rash decisions without thinking the matter over. This is often because dealing with a work-related injury is stressful since your life will be impacted forever. The following are a few points to keep in mind regarding settling your claim.
Each state has their own workers' compensation laws. The laws govern how settlements are handled too. Sometimes injured individuals feel pressured by workers' compensation insurance companies to settle their claims. Employers have also even been known to insinuate to injured workers that they need or have to settle their claims as soon as possible. This is not the case. As the injured party, you have full control over whether you would like to settle your claim or not. Accepting a settlement requires forethought. After all, you are expected to have this impairment for life.
Lump Sum Offer
A lump sum for a significant amount of money might seem attractive initially. However, you have to consider whether the lump sum will cover future medical costs. Some injuries get worse as time passes. It is possible to tentatively accept a lump sum, but receive it in payments rather than all at once. This is referred to as a structured settlement. It is good for some cases because it allows injured individuals to retain their rights to medical care in the future if it is needed.
Declining the Offer
Perhaps you will not agree with the settlement offer after thinking it over. You may even feel as though opting to accept it as a structured settlement is still not the right thing to do. You have the option to decline the settlement proposal. This means that you would have the opportunity to go before a judge or panel. They would make the final decision regarding whether the settlement offer is sufficient or whether it should be more.
Due to the complexities of workers' compensation law, it is ideal to use a workers' compensation lawyer as a resource for your case. You can find more info here about these kinds of attorneys. They can negotiate settlements, and many of them accept these cases pro bono.