Lowball Insurance Settlement Offer From Workers’ Comp: Now What?

Michigan workers’ comp lawyer discusses lowball insurance settlement offer and how to maximize the value of a claim.

Lowball Insurance Settlement Offer From Workers' Comp: Now What?

We frequently get telephone calls and emails from individuals who are looking to settle their workers’ comp claims. Many of them have significant disability and are getting workers’ comp benefits on a voluntary pay basis. The insurance company knows it’s on the hook and wants to close out the claim. Here is how to deal with a lowball insurance settlement offer from Michigan workers’ comp and why you cannot rely upon their doctor opinions.

Disabled employees are permitted to trade workers’ comp benefits for a lump sum cash payment. This is called a redemption and it can occur any time after 6 months from the date of injury. A lump sum cash payment is an attractive option for many people because it allows them freedom to do medical treatment and vocational rehabilitation on their own terms. Money from a settled work injury claim can be used for any purpose including medical care, vocational rehabilitation, job-search efforts, starting a business, paying off debt, purchasing a home, or retirement.

Insurance companies understand the value of work injury claims

Insurance companies understand the value of Michigan workers’ comp claims and they never want to overpay. They are notorious for making a lowball insurance settlement offer based upon their own interpretation of the medical and vocational evidence. Many people accept these low amounts because they are desperate for money or do not understand their legal rights.

Insurance companies pay based upon their potential exposure. This is how much money will need to be paid for medical treatment and wage loss benefits. We tell our clients that a good workers’ comp lump sum cash payment should pay enough to cover future medical expenses and several years of wage loss benefits. Please remember that every claim is unique, and it is best to speak with an attorney about your own individual situation.

Have a doctor on your side

It is critical to have a doctor on your side who supports the workers’ comp claim. Evidence is needed to establish medical treatment needs and work restrictions. This can make or break settlement value. Watch out for a lowball insurance settlement offer that is based upon a so-called “independent” medical examination. These doctors are handpicked by insurance companies and frequently testify against disabled employees.

How to avoid a lowball insurance settlement offer

In order to avoid a lowball insurance settlement offer from Michigan workers’ comp we recommend hiring an workers’ comp lawyer to negotiate from the very start. Insurance companies rarely take people seriously unless they are represented by counsel. This will ensure legal rights are protected and the highest settlement amount is obtained. Many of our clients get years of wage loss benefits paid up front and then return to work somewhere else. Attorney fees are a small percentage of what is recovered and there is no charge unless a settlement is obtained.

Injured at on-the-job? Contact our workers’ comp lawyers for a free consultation

To avoid a lowball insurance settlement offer from Michigan workers’ comp speak with one of our experienced attorneys now, or fill out our contact form for a free consultation. There is absolutely no cost or obligation. We’re here for you.

Our workers’ comp attorneys have been exclusively helping injured workers in Michigan for more than 35 years. Our attorneys can help you better understand Michigan workers comp laws and what happens after someone has been hurt on the job. To see what our own clients have to say about the caring, compassion, and communication they received from us, you can read in their own words about their experience here on our testimonials page from clients we have helped.

Michigan Workers Comp Lawyers never charges a fee to evaluate a potential case. Our law firm has represented injured and disabled workers exclusively for more than 35 years. Call (844) 337-5167 for a free consultation today.

Related information:

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