Michigan work injury lawyer explains how a person can trade benefits for a lump sum cash settlement.
Many of the people who contact our law firm want to know: Do you get a settlement from Michigan workers’ comp? It is a logical question for individuals who have reached maximum medical improvement (MMI) or have been given permanent work restrictions. Here is some information about trading lost wages and medical benefits for a lump such cash settlement.
Employees who are on workers’ comp frequently have financial distress. This is because the insurance company only has to pay a fraction of a person’s salary. Many people live paycheck-to-paycheck and even a small reduction of income can be hard. This is especially true for individuals who are trying to support their family.
Do you get a settlement from workers’ comp in Michigan?
In Michigan, you can get a settlement from workers’ comp if medical and vocational evidence shows continuing disability. Michigan is a “wage loss” state. This means that money is only paid if an employee is unable to work. There is no automatic payout based upon an impairment or disability rating. Medical treatment should be covered for life.
A person can trade workers’ comp benefits for a lump sum cash payout. The amount of settlement is going to depend upon how much the insurance company thinks it must pay for medical and wage loss benefits. Settlement is not automatic, and it must be carefully negotiated.
Insurance companies know the value of claims and they don’t want to overpay. They can be ruthless in the settlement process and will try to exploit financial distress. It is also common for them to hire private investigators to follow people, use so-called “second opinion” doctors to create a dispute, and vocational counselors to say a person can find another job somewhere else. It is important to have an experienced workers’ comp lawyer on your side before going down this road.
When do you get a settlement from workers’ comp in Michigan?
Michigan law requires 6 months to pass from the date of injury before a workers’ comp settlement can be approved. We recommend hiring an experienced workers’ comp lawyer to negotiate. Medical and vocational evidence must be in order before starting the process. Timing is everything when it comes to getting a great deal.
We tell our clients to expect the first settlement offer to be low but to keep negotiating. First offers are sometimes just pennies on the dollar. Insurance companies will typically pay several years of disability to resolve a good case. The trick is to get enough money to cover future medical and sufficient time off work.
Many of our clients get a large sum of money and then quickly return to other jobs. Settlement money can be used for any purpose including medical treatment, vocational rehabilitation, starting a business, paying off debt, or even retirement.
Need help with your claim? Call our attorneys now!
If you are injured on the job in Michigan and need help filing a workers’ comp claim and are wondering if you can get a settlement, call now or fill out our contact form for a free consultation. There is absolutely no cost or obligation. Our attorneys are here for you.
Our attorneys have been exclusively helping injured workers in Michigan for more than 35 years. Our attorneys can help you better understand Michigan work injury 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) 316-8033 for a free consultation today.