We all likely know about workers’ compensation insurance and what that entails, whether we are the recipients of that insurance or need to supply it. When it comes to cases dealing with workers’ compensation insurance in Jersey City, Cherry Hill, Roseland, Fort Lee, Hackensack, and the surrounding areas, about a third of those cases end up with a structured settlement instead of a lump sum of money. It is important to understand these kinds of structured settlements and the team at Settlement Funding Associates can help you navigate this process. Contact us today to learn how we can help you with important guidance with your structured settlement.
Workers Compensation Scenarios with a Structured Settlement
When it comes to the different scenarios associated with structured settlements as it relates to workers’ compensation cases, there is almost an unlimited number. The location of the incident or injury could be in a number of places, including at the workplace itself, but could also include business travel, around town doing work-related errands, or attending a mandatory social event with colleagues and clients.
Another set of scenarios include the cause of the case. It could be from something like slipping and falling down stairs, or it could be a repetitive stress injury that takes a while to develop. Job-related illnesses from exposure to toxic substances over time, or a dangerous health condition. It doesn’t have to happen just at the business location.
Even the fault for the incident can be a variety of reasons, from accidental to the fault of the employee, the fault of the employer, or even a third-party such as a co-worker or possibly a customer. Workers’ compensation cases with structured settlements can be varied.
Benefits of Structured Settlements for Workers’ Compensation Cases
With many cases that result in the permanent disability for an employee, a workers’ compensation claim is often resolved with a structured settlement agreement. When a structured settlement is done in these kinds of cases, they help to establish financial security for the injured employee. This can include medical expenses due to surgeries, durable medical equipment, as well as the loss of earnings due to being permanently disabled. This arrangement also helps to keep employees injured off of public assistance since they will have an ongoing stream of income for many years.
When you have questions around structured settlements and workers’ compensation in Jersey City, Cherry Hill, Roseland, Fort Lee, Hackensack, and the surrounding areas, be sure to contact Settlement Funding Associates to learn about the different options you will have.