What is a workers compensation settlement?
A workers comp settlement is offered to an injured employee to help cover medical expenses and lost wages. It’s a lump-sum payment and a decision that an injured worker shouldn’t make without considering all options.
Here are a few questions to ask yourself before accepting the workers compensation settlements
- Will you need further medical treatment because of the injury? If the answer is yes, how do you expect to pay for those medical expenses?
- Will you have lifelong physical limitations? How will those limitations affect your quality of life in the future?
- Will you earn less money in the future as a result of your injury and the limitations it will cause?
- Will you qualify for social security disability benefits? When should you expect to apply for those?
- Is the sum of the workers compensation settlements that the insurance company is offering a fair amount?
- Is now the right time to settle your claim or should you wait until you’ve spoken with a lawyer?
Insurance companies typically offer the lowest amount that they possibly can. To ensure you get the compensation you actually deserve, it’s important to seek legal advice about your South Carolina workers compensation settlements from a trusted workers comp attorney, like one from The Clardy Law Firm.
You can only settle a workers’ comp claim once. And once you’ve embarked on the settlement process, you won’t be able to go back to the insurance company to ask for more money if you find out late that your medical expenses are stacking up faster than you anticipated.