Should You Accept A Cash Settlement For Your Injury?
The workers’ compensation claim process can be confusing and discouraging. At New Jersey Workers Compensation Lawyer of JFM Law, 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, possibly in the form of cash settlements.
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 New Jersey Workers Compensation Lawyer of JFM Law 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.
Contact A New Jersey Workers’ Comp Lawyer: Free Consultations for Injured Workers
At New Jersey Workers Compensation Lawyer, in Monmouth County, New Jersey, our workers’ compensation attorneys and staff are committed to providing clients with responsive and effective legal services. Are you going to receive a lump sum for your injury? It is important to have a lawyer review your claim in order to see that you are being treated fairly before you accept a cash settlement. Please call 866-916-3549 or email our office to arrange a free consultation.
Do you have a claim against a person other than your employer for an employment-related injury? See Third Party Claims.
Servicios del intérprete disponibles – Spanish translation services available