Accepting a lump-sum workers’ compensation settlement puts money in your pocket now, while giving up your right to receive weekly benefits. There are a number of advantages to accepting a lump-sum settlement. For instance, settling your claim frees you from the burden of continuing to prove your disability to your employer. Also, after accepting the settlement, you will be free to go back to work and earn as much as you can.
However, you should not accept any settlement without consulting with an experienced Pennsylvania workers’ compensation attorney. You need to make sure the settlement is fair and that you will have the resources you need. After you sign the release, your employer will not be liable for any further complications of your injury.
If you have questions about workers’ compensation settlements in Pennsylvania, the attorneys at Pribanic & Pribanic are here to offer experienced advice and advocacy.
Contact us today online or by telephone at 412-672-5444 or toll free at 800-392-4529 to speak with an experienced Pittsburgh workers’ comp settlement lawyer.
Is a Lump-Sum Settlement Right for You?
There are many factors to consider before accepting a lump-sum settlement. For instance, you will want to consider the following questions:
- Is your medical condition getting better?
- Will you require ongoing medical treatment?
- Do you have other reliable sources of monthly income, such as Social Security Disability or Medicare?
The Settlement Amount
The amount of the settlement depends upon a number of factors, including the injured worker’s:
- Earnings before the injury
- Work history
- Medical condition
- Expected future medical needs
Our attorneys have handled numerous workers’ compensation settlements for injured workers throughout Pennsylvania. We can provide you with the sound legal advice you need to make informed decisions about your workers’ compensation settlement.