A work-related injury can keep you out of work for several weeks. In most cases, your employer's insurance plan will only cover a portion of your pay while you recuperate. When you need more help with your claim and need to hire a workers compensation lawyer, what do you do? Fortunately, there are options that are meant to help you just when your financial situation worsens. Read on to learn more.
The Lump Sum Payment
You may have an injury situation that calls for a lump-sum payment from the workers compensation plan. Often, lump sum settlements are provided to workers who have been permanently affected by a workplace injury or illness. While most minor injuries, such as broken bones, allow workers to get back to their jobs in a few weeks, some injuries leave workers unable to return to their jobs for several weeks or even months.
The Compensation Contingency Connection
A permanent injury can mean that you are entitled to have those weekly benefits turned into a set amount. This amount can be paid to you in one payment or broken up into more payments on a regular basis. This is known as a structured payment. If you have an injury situation that calls for a lump-sum settlement and you are having problems with your claim, you may be able to use a contingency fee arrangement.
The Workers Compensation Contingency Fee Plan
You may have heard of these fee arrangements. People who need legal help will make a deal with the lawyer to be paid from the amount of money that is won in the case. This is know as a contingency fee arrangement. In the case of workers compensation, the attorney agrees to be paid from your lump-sum settlement.
Settlement Expectation Amounts
The amount you end up receiving from a workers compensation settlement depends on several factors. This settlement, which can include rehabilitation services, is based on factors like:
- Your former salary
- Your level of education and ability to qualify for another job, given your disability
- Your age
- What percentage of your body is permanently disabled, such as 65% disabled.
A great deal is riding on the amount of your settlement. You may never be able to work or to make your former salary again. To ensure that you get what you need, you will need legal help. Speak to a lawyer about your potential lump-sum settlement today.