Should I Settle My Claim?
There are a variety of reasons why an injured worker might be interested in settling a worker’s compensation claim. Possible settlement situations may include:
- When it is becoming difficult to secure further compensation, medical treatment, or other benefits.
- When the injured worker is contemplating retirement, moving out of state, or is experiencing serious illness or advanced age.
- When injured workers who are collecting permanent total disability want to reduce annuity payments to cash.
There are also several circumstances in which settlement may not be appropriate. Remember, a settlement is full and final. This means you are no longer eligible for any compensation or medical benefits from your workers’ compensation claim once it is settled.