Insurance company pays settlement with loose change

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You’re not alone. Our Michigan workers’ comp lawyers have been called the best in the state, and we pride ourselves on providing you with care, trust, and responsiveness.

Michigan workers comp lawyer discusses the settlement process and when you can expect payment.

An NBC affiliate in Southern California has a bizarre story about a man who received settlement proceeds in the form of loose change. The insurance company dropped off $21,000 in quarters, dimes, nickels and pennies.

While this story has some people laughing it is a serious matter. It caused the plaintiff additional stress and makes a joke out of the process.

Here is what you can expect when settling a Michigan workers comp case.

Redemption

All workers comp settlements must be approved by a magistrate.  This is called a redemption hearing and you will be required to give testimony or sign an affidavit. The magistrate will be given a brief explanation as to why the workers comp case is being settled.  The magistrate will also want to hear that you understand what benefits are being given up.

Appeal Period

A workers comp settlement is not final until 15 days after the magistrate approves the redemption. This time period allows both sides to request a settlement be overturned.   A settlement cannot be overturned without good cause or a legal reason. Changing your mind is not sufficient cause.

Payment

Proceeds from a settlement are paid via check and will be mailed to the address on the redemption order. Attorney fees and direct payments will have already been taken out and mailed separately.

The insurance company will not issue checks until the settlement is final. Payment should be received about 2 weeks after the 15 day appeal period has expired.

It is possible to waive the 15 day appeal period and have a check mailed right away. Both sides must agree and the Agency needs to sign off.

In extreme circumstances, it is possible to get a check on the day of redemption.

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 (855) 221-2667 for a free consultation today.

Related information:

Michigan workers comp lawyer explains the pros and cons of settlement and how to get the most money for your case.

Photo courtesy of Creative Commons, by uhuru1701.

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Author Bio Jeffrey Kaufman

Author
Jeffrey E. Kaufman
Michigan Workers Comp Attorney

Jeffrey E. Kaufman has extensive experience in workers compensation cases and has recovered millions of dollars in benefits for his clients. He believes all injured workers deserve to be on equal footing with insurance companies and employers, and fights tenaciously so their rights are secured and protected.


“Jeff also helped me with getting my Blue Cross bills paid. I would absolutely recommend him and the whole firm. Jeff and the firm did everything they were supposed to do for me and my case.”
Ricardo Perfetto

Hundreds of 5-Star Reviews

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Get Help From our Michigan Workers’ Comp Lawyers Today

You’re not alone. Our Michigan workers’ comp lawyers have been called the best in the state, and our clients love how they’re treated with care, respect, and responsiveness. We will give you the time you need, we will explain your legal rights, and we will always treat you with respect.

Our workers’ compensation and Social Security disability lawyers always put your needs first. Get to know your legal team.

Our attorneys post regularly about common issues related to workers’ comp, including common injuries, settlement calculations, laws, and more.

Injured? It’s Time to Get Some Answers

Don’t let the insurance adjuster push you around. Request your free consultation today.

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

Our attorneys post regularly about common issues related to workers’ comp, including common injuries, settlement calculations, laws, and more.

Our workers’ compensation and Social Security disability lawyers always put your needs first. Get to know your legal team.