If you have been seriously injured on the job and have been collecting workers’ compensation benefits, the insurer may propose a settlement. Often referred to as a “clincher,” this settlement would resolve your workers’ comp claim for all time with a single lump-sum payment or a limited number of regularly scheduled payments. When your employer’s insurance company approaches you to discuss a clincher, it’s time to consult an experienced workers’ compensation attorney. There are many factors to consider when deciding whether a settlement is in your interest and, if so, what amount of total compensation is fair. The knowledgeable attorneys at Marcari, Russotto, Spencer & Balaban have the experience to guide you through this critical phase of your workers’ comp claim to a successful conclusion.
Your employer’s insurance company would not offer a workers’ compensation settlement unless they anticipated they could save money by doing so. That means there’s a chance they’ll wind up paying you less in a settlement than they would on a week-to-week basis. Of course, there’s also a chance you could wind up with more through a settlement than you would through weekly payments if, for example, you passed away prematurely. And your choice to accept a lump-sum settlement may make sense if you are carrying high-interest debt you could pay off.
But before you decide what to do and whether the settlement amount is fair, you must consider several factors:
Our attorneys work diligently to give you the total picture of your benefits and how a settlement would affect them. We explain your various options, including the possibility of settling one area of benefits but not others. For example, you might want to settle your partial disability benefit in one payment but leave your medical benefits active until you are reasonably certain about your future needs. When you retain Marcari, Russotto, Spencer & Balaban, you get our full commitment to serving your best interests.
If you have the opportunity to settle a workers’ comp claim, Marcari, Russotto, Spencer & Balaban can protect you from negotiation pitfalls and help you get the full compensation you deserve. Call us at (888) 351-1038 or contact us online for a free consultation.
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