At some point during a workers’ compensation claim, the insurance company may offer you a lump-sum settlement. The offer could consist of a one-time payment or a structured settlement consisting of a series of payments.

If you have received a lump-sum settlement for a work injury claim, you have an important decision to make. Upon your acceptance of the settlement, the responsibilities of the insurance company will end once it has made its final payment. You will be responsible for any future medical costs arising from your work injury. On the other hand, the offer of a lump-sum settlement can be very tempting.

Does a lump-sum settlement make sense for you?

The answer to that question requires careful consideration and advice from an experienced workers’ compensation attorney. For some people, it can make sense to accept a lump-sum settlement. Others are better off declining the offer and keeping their workers’ compensation claims open, so they can continue to receive benefits.

Some of the important factors to affecting this decision include the following:

•· How close you are to retirement

•· Your eligibility for Medicare and other government benefits

•· Your ability to obtain employment comparable to the job you had prior to your injury

•· The size of the settlement compared to the net present value of the future workers’ compensation benefits you are giving up

Adler & Manson in Kansas City has extensive experience handling workers’ compensation cases in both Missouri and Kansas. Our firm welcomes inquiries regarding lump-sum settlements. We can provide you with the guidance you need to make a smart decision regarding the offer you have received.