Most decisions in life aren’t black or white; good or bad. There are factors to weigh on both sides of the ledger. This holds true for deciding whether to take a settlement for your work injury, or to take your chances by going to trial to try and get more money. Though the insurance company isn’t required to give you a settlement offer, they often do. There are complex issues to consider in making your decision whether to accept it.
Settlement Pros:
- The settlement amount is very fair and reasonable. Consider all of your medical bills and other medical costs, your future lost wages, and other costs that could arise because of your injury. Does this amount reflect the permanent state of this injury?
- You have a clear picture of what your future medical needs will be. It is important to wait until you know that your condition has improved as much as it is going to, and that you won’t need more medical treatment in the future for this injury.
When you settle your case, it becomes permanent for this particular work injury. If you end up needing more treatment, or your condition gets worse, you can’t go back to the insurance company and get more money once you’ve settled the case. For example, if your condition suddenly takes a turn and you need major surgery, you will not be able to get any workers’ compensation benefits to pay for it. The settlement amount is final.
- You need the money now in a lump sum. Settlements are paid in one lump sum, but an award at trial is paid out over time.
- You need to avoid the stress of a trial. Is your current physical or emotional state not strong enough to go through the process of a trial? Would your health be jeopardized by it?
- Your chances of success at trial are not solid enough to take the risk. Your lawyer will weigh your risk of coming out worse if you went to trial instead of taking the sure thing. A settlement is certain, a trial outcome is not—but how risky is your particular case? How solid is the evidence you have to present at trial?
Settlement Cons:
- The amount being offered is not enough to fully compensate you for your loss. If the settlement doesn’t go far enough to pay for your medical bills and costs, your lost wages, and your future losses, you may want to go to trial.
- You want to leave open the future possibility of needing more money. If you go trial, your case does not become final like it does when you take a settlement. If your condition gets worse or you need more treatment, you can go back to court and ask for more money to cover the cost. How certain are you about the future of your condition?
- You can appeal an award at trial. When you settle a case, you have no rights to appeal the amount, but a decision at trial has the opportunity for appeal.
- There is the possibility of more money from a decision after a trial. You and your attorney can weigh the risks of your case, and you can decide whether the risk of losing at trial is low enough that it may be worth the chance of coming out with more money than a settlement.
Our attorneys are very experienced in analyzing the pros and cons of settling work injury cases. If you would like to discuss these issues or have any questions, please contact us.
We are workers’ compensation attorneys that help people with Illinois work injuries anywhere in IL via our statewide network of attorneys. Contact us and we will answer your questions or find the right lawyer for your situation.
