If you’ve been hurt at work and are seeking to receive a share of workers compensation settlements, you’ll want to know the facts before you agree to sign on to anything. This is also good information to know just in case you should ever need it for a personal reason or if a loved one or friend goes through it. It never hurts to be prepared. You’ll want to know all possible personal injury outcomes, what law firms can help you the best, and what kind of personal injury protection is available for you. Knowing the terms of workers compensation settlements means you can keep yourself from being cheated in your negotiations.
What Do The Numbers Look Like?
With over 3 million workplace injuries that got reported in 2013, there were a significant number of workers compensation settlements that went through the court. A little under 230,000 of these injuries were due to slipping, tripping, or falling at work that year. If those incidents were due to unsafe work conditions, that would b e an excellent reason to seek out an injury attorney if you had to take significant time off work. Unfortunately, it’s very likely that a large company or corporation may try to underpay you, so you’ll want to research some recent cases and talk to your attorney to get a sense of what a good amount might be to accept.
What Types of Settlements Are Available to Choose From?
There are generally two main types of settlements–one is a lump sum settlement, which refers to when you receive one large sum of money as compensation one time from the insurance company. This sum would include your permanent disability payments and any medical care costs. The other common type of settlement is a weekly payment from the insurance company for as long as is appropriate.
Why Say Yes To Workers Compensation Settlements Right Off The Bat?
You’ll save some time and inconvenience by not having to wait to set up a hearing. You may also receive more money if you take what the insurance company is giving you; the judge in a hearing may hand down less money (unfair as that sounds). Additionally, if you agree to relinquish your rights to future benefits, the insurance company will pay you for those rights. So if there’s a low chance that you may need surgery or tests, you can ask the insurance company to give you the money for those procedures now and in return, you give up the right to ask them for the money later on down the line.
As a word to the wise (and social media active), it’s not advised to broadcast any frustration or rage or promises of backlash on social media. If for some reason, this should come up in court, the privacy settings available on social media like Facebook or Twitter won’t keep you from being required to turn your social media files over to the court.
It’s always good to consult your attorney before deciding to settle, but you’ll want to do your research thoroughly and consider all your options in these types of cases.