1. Lump-Sum Workers’ Compensation: A lump sum settlement is an agreement between you and the insurer in which you give up your right to receive future medical and wage loss benefits in exchange for a one-time lump sum payment, available to you now. This cash settlement would be based on the insurer’s estimate of how much they would have paid you over the life of the claim. A lump sum is advantageous if you need financial relief immediately.
  2. Structured Settlement: A structured settlement is a series of continuous and consistent payments over an agreed time frame or through the remainder of your life. now, a structured settlement may be beneficial if you have a catastrophic injury and want to manage your money and pay for long-term care.

Learn More About Workers’ Comp Settlements

Workers’ comp lawyer Marshall S. Adler can further explain the pros and cons of both lump sum and structured settlements and recommend if there is one that makes sense for you. In any settlement negotiation process, he will advocate for your best interests and fight for every dime.