Should You Accept a Lump Sum Payment for Your Benefits?
If you are eligible to receive workers' compensation benefits, you may be tempted to work out a lump sum settlement rather than accept biweekly payments based on a percentage of your weekly earnings. Lump sum settlements are often the most burning issue among injured workers. Understanding the options is confusing and making the wrong decision can be a financial disaster. Having an experienced workers' compensation attorney explain the options is critical.
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Your Ohio BWC Attorney will set up your claim to help you obtain maximum benefits and to ensure that any lump sum settlement agreement puts you in the best position to receive the most amount of money available. That includes putting a value on the future cost of your medical expenses. If you decide to settle, you will be forfeiting your right to file for any future benefits related to your injury.
A Workers' Compensation Settlement Isn't Always In Your Best Interest
Don't let the big dollar amount of a settlement excite you. Employers know that it is generally less costly to pay off their obligation in a lump sum, knowing they will never have to worry about the worker extending the length of time they receive benefits. That's why it is so important to have an attorney on your side who knows how to figure out future value, based on your particular injury. Your Ohio BWC Attorney will have decades of experience and knowledge to help you make the right decision.
Wherever you are in Ohio, an independent law firm in the OhioBWCAttorneys.com network is ready to help you with your workers' compensation settlement or initial claim. Let your lawyer handle everything, so you can focus on what's important: recovering your health. Contact us today.
