You should not decide whether to take a lump-sum workers' compensation settlement without the advice of an experienced workers' comp lawyer in Louisiana. Of course, the insurance company wants to settle. It will pay you less in a settlement than the full amount it would have to pay over the long term if all of your past, present and future costs are added up, including:
- Medical expenses
- Lost wages
- Vocational rehabilitation
- Potential disability benefits
By accepting a settlement offer, however, you get closure. You will not have to worry about what you may or may not get paid in the future. You will be able to budget based on the settlement amount.
Never agree to a settlement without an attorney representing your best interests. Your past, present and future costs must be established and negotiated to maximize the value of your claim.
Your Workers' Comp Benefits May Continue Into The Future If You Don't Take The Settlement
If you don't take a settlement, you are entitled to reimbursement of medical expenses related to your work injury for life. You also may be entitled to total or partial disability benefits if you are unable to return to work or must take on a lighter duty, lower paying job than you once held.
Additionally, you may be entitled to receive extended benefits (partial benefits) if you are unable to return to work before full workers' comp benefits run out.
In this case, however, you will be required to see an approved physician every six months to assess your ability to return to work. If you are deemed able to return to work, the insurance company will move to discontinue your benefits.
If you feel that you will be able to return to work soon, a calculation must be made to determine if a settlement is right in your case. It very well may be the right decision to take the settlement.
Will Your Condition Get Worse?
Your preferred physician and our experienced workers' comp attorneys will help you make this determination. If you become permanently or totally disabled due to your work injury or illness, you would be entitled to two-thirds of your average weekly wages and injury-related medical expense compensation for life. Additionally, you will be eligible for cost of living adjustments and other possible compensation eventually.
Get A Free Consultation With Our Attorneys In Baton Rouge Or Metairie
We are available by phone and email 24/7. Please call us at 504-266-0253 or 800-711-9366 to discuss your full legal options and rights. We handle all upfront legal costs of your case and get paid only if your case is successful.