JENKINTOWN PERSONAL INJURY ATTORNEYS

Lump sum settlements, also known as Compromise and Release or C&R Agreements, allow injured workers to settle some or all of their claims. For example, an injured worker could settle his or her wage loss claim for a lump sum, while continuing to have the insurance company pay for medical expenses. Some reasons why people may settle for a lump sum include:

• The insurance company is offering a lot of money.
• The employee just wants to get back to work or open a business.
• The lump sum settlement may provide the money a worker needs to afford to go back to school and get a degree or specialized training.
• Both sides want to avoid ongoing litigation.

Lump sum settlements can often seem like very attractive offers, but it is still important to take a few things in to consideration before making a decision. Does the settlement adequately pay your lost wages? Does it include future medical bills? Does it protect you if you receive Social Security and Medicare benefits? What are the options if you don’t choose to settle?

If your insurance company knows that you do not have a lawyer representing you, they might try to present you with a settlement that is less than you deserve. If you work with an experienced workers’ compensation attorney, they will know how to handle negotiations and how to get you a larger settlement than what was originally offered.

If you were injured at work and you would like to speak with a workers’ compensation lawyer in Philadelphia, contact the attorneys at Mednick, Mezyk and Kredo for a free consultation at 215-545-1870.