Workers’ Compensation Lump-Sum Settlements
Should You Accept One Big Payout?
If you’ve been hurt on the job and will be receiving workers’ compensation payments, your employer’s insurer may offer you a lump-sum payment to cover all current and future expenses from your injury, including medical bills, a percentage of lost wages and long-term health care. While a lump sum may sound like an attractive option at first, your employer may be offering it to you to protect its own interests rather than yours. Don’t rush to agree to anything until you speak with an experienced workers’ compensation attorney first. To speak with one of our attorneys at Jacobs & Dow, LLC, in New Haven, Connecticut, call our office at (203) 772-3100, or write to us using our email form.
A Lump Sum May Not Be In Your Best Interest
There are certain circumstances in which your employer’s workers’ compensation insurance might be more likely to offer a lump-sum settlement in response to your on-the-job injury.
- You were injured at a previous employer but now work somewhere else.
- You received compensation for a permanent injury but may require long-term care.
In these circumstances, your employer’s insurance company could potentially avoid paying additional compensation in the event that you either re-injure your old injury on the new job or discover later that you need longer-term care. If your employer’s insurance offers you a lump-sum settlement, it’s best to speak with an experienced workers’ compensation lawyer before agreeing to anything. There may be stipulations in the lump-sum offer that need to be considered and weighed that could have a significant impact on your ability to receive compensation for your injuries.
Find Out Your Options. Call Today.
Speak with one of our workers’ compensation attorneys if your employer’s insurance company is offering you a lump-sum settlement. We can analyze the details of your situation and determine the course of action that gives you the best chance of recovering the maximum possible compensation. To schedule your free initial consultation, call our office at (203) 772-3100 or tell us what they’re offering you via email. We are open weekdays and Saturday mornings, and can also meet on Sundays, evenings or holidays by appointment.