Is a Lump Sum Settlement For Workers' Compensation Best for You?
Many injured workers don't realize that they may be able to work out a lump sum settlement for their workers' compensation benefits, rather than a weekly payment. A settlement is a mutual agreement between you and the benefits provider. Understandably, the insurance company doesn't want to pay out a lump sum until they think it is in their best interests to do so.
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If you are interested in negotiating a lump sum payment for your workers' compensation claim, it is best to have a lawyer negotiate your best settlement. The workers' comp insurance company will have a knowledgeable attorney representing their side, fighting to pay as little as possible.
Consider the factors that you must take into consideration:
- How much were you earning at the time of your injury?
- What would your earning capacity be after your injury?
- What caps will limit the amount you can be paid?
In addition, your lawyer will have to understand the rules relating to social security and how Social Security Disability Income payments can affect your total settlement.
At Bernard Stuczynski & Barnett, we have been helping injured workers negotiate the best possible settlement for workers' compensation benefits for more than 30 years. Our experienced personal injury and workers' comp attorneys understand the rules and we know what strategies to employ to help you maximize your benefits. It's one reason we won't typically discuss a lump sum settlement until we are sure that you have attained maximum medical improvement. In other words, we need to know the full and true extent of your injuries. Once you accept a lump sum settlement, you can never claim more.
We are your complete workers' compensation law firm serving injured workers in Erie and communities throughout northwestern Pennsylvania. Contact us to arrange a free consultation with one of our lawyers today.
