Monday, January 3, 2022

Should You Accept The Settlement in Workers' Compensation?


Every worker in Virginia has the right to seek financial compensation if they sustain an injury during work or at work. When you apply for workers’ compensation claims, there are high chances that you will get a settlement offer from the insurance company or the employer to settle your claim and accept a lump sum amount. However, taking the offer can sometimes do more harm than good.


You can seek help from a skillful and experienced lawyer who can advocate for you on the eligibility for workers' compensation in Virginia and more.


Should you accept the lump sum amount and settle your workers' compensation?


When an insurance company approaches you with the settlement amount, you may be tempted to accept the offer and feel that this is the maximum you can get. However, it would help if you never settled your offer without talking to your lawyer and considering all the expenses. Once you accept the settlement amount, you will no longer be eligible for getting compensation ahead.


Accepting the settlement offer can create a financial burden for people who need long-term medical care or treatment for their injuries. Workers’ company insurance companies always focus on giving out as little compensation as possible. Even if you feel that the settlement will do justice to your treatment cost, the truth is that the company is offering a minimum settlement than you deserve.


Before accepting the settlement, you need to evaluate the total cost of medical treatment you have spent and the possible medical treatment and care you will need in the future. As mentioned previously, once you accept the settlement, you will not receive any financial benefits if your injuries worsen in the future. The positive side of settling the offer would be to get financial help as soon as possible and not spend single money from your pocket. However, it is advisable not to accept the offer without consulting a lawyer.


Consult a lawyer


The company may try to approach you before you get a chance to seek legal help. You can talk to a lawyer and discuss all the details with them to know if the settlement is worth it or not. Additionally, even if you do not have to prove negligence to get workers’ compensation benefits, the procedure can be complex, and you may get tangled up with the insurance company’s tactics. An experienced lawyer can help you lay out all the details of the law and fight for your rights until you get the maximum compensation for your injuries.


Author: verified_user