New Jersey Workers' Comp Lawyer
Should you accept a cash settlement for your injury?
The workers' compensation claim process can be confusing and discouraging. At the Law Office of John F. Marshall in Shrewsbury, our attorneys help our clients understand how the pieces of a claim fit together. If you suffered a workplace injury, it is our job to see that you recover maximum compensation.
If your accident or occupational disease resulted in a partial or total permanent disability and you are no longer receiving medical treatment, your employer's insurance company may offer you a cash settlement (sometimes known as a Section 20 settlement). By this time you will have been out of work for months or years. Your income benefits will have stopped when you reach maximum medical improvement. You may feel desperate.
Contact us at the Law Office of John F. Marshall in Shrewsbury to arrange a free consultation with a workers' compensation lawyer. Find out if a cash settlement is in your best interest.
In some cases, receiving a lump sum as a result of a cash settlement is the best solution for a worker with a permanent disability, particularly if there is a dispute about the cause of the injury. However, there are serious risks involved in accepting a cash settlement—if your injury worsens or requires further treatment later on, you will not be able to reopen the case.
When an injured worker and the insurance company formally agree to a cash settlement, the worker will be advised that he is waiving his right to a trial in favor of a settlement. Additionally, upon acceptance of a Section 20 settlement, the injured worker will waive their right to reopen their case and to seek additional medical treatment or additional benefits. Only on the advice of an experienced workers' comp lawyer should you accept a cash settlement offer.
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