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Lump Sum Settlement for Workers’ Compensation Claims

Lump Sum Settlement for Workers’ Compensation Claims

On Behalf of | Apr 23, 2019 | Workers' Comp |

Depending on the details of your workplace accident case, it may be in your best interests to accept a lump sum settlement. However, if you are offered a lump sum settlement after suffering a work injury, do not accept or sign anything until consulting with an experienced attorney. A knowledgeable workers’ compensation lawyer in Beverly can review your accident to determine if the offer is appropriate given your injuries and required treatments.

Lump sum settlement

If you accept a lump sum from insurance company, you give up your right to a weekly benefit check. Instead, you receive a single payment from the insurance company for your injuries and you no longer have to go through the workers’ compensation process. Whether accepting is right for you ultimately comes down to the severity of your injuries and the amount of compensation being offered.

When can you settle?

While you can settle your workers’ compensation case at any time, it is best to wait until your doctor has fully determined that your condition will not improve. Settling your case beforehand is not advised because the insurance company’s lump sum offer may not be enough to treat your injuries if your condition worsens.

How much will you get in a settlement?

Every workers’ compensation case in Massachusetts is different. That being said, you can expect more compensation if:

  • You are permanently disabled
  • You cannot return to work
  • It is clear that you suffered a work-place injury

A skilled workers’ compensation lawyer can help you obtain the money you deserve by advising you though every stage of the process, from filing your claim correctly to negotiating a fair settlement offer. With the guidance of a lawyer who specializes in workers’ comp, you can increase your chances of recovering just compensation.

Finalizing your settlement

You must submit a request for lump sum compensation to the Massachusetts Department of Industrial Accidents to finalize your settlement. Next, the Department of Industrial Accidents will schedule a settlement meeting where a judge will evaluate your settlement. If the judge believes the settlement is in your best interests, it will likely be approved.

Sound workers’ compensation advice for Beverly, MA

Chisholm Law LLC is committed to helping injured Massachusetts workers recover fair and appropriate benefits. To schedule a consultation, contact the firm online, or call 978-942-6959 to speak with an experienced lawyer today.

About the Author: Eric Chisholm
J. Eric Chisholm practices in the areas of Personal Injury, Workers’ Compensation and Social Security Disability. He is a member of the Massachusetts Bar Association & a frequent lecturer on the topic of workers’ compensation law at Massachusetts Continuing Legal Education seminars.