Workers’ compensation cases typically involve the payment of wage loss benefits at intervals of every two weeks. Wage loss benefit claims and medical benefit claims may be settled for a one-time lump sum payment by way of a procedure known as a Compromise and Release. Many considerations go into determining whether a settlement is the right thing for you, and, if so, what a fair settlement amount is. Only an experienced and competent workers’ compensation lawyer can help you answer these questions.
There are advantages and disadvantages to every settlement. Some of the advantages are that it frees you from the system, provides you with certainty, and gives you significant capital. The primary disadvantages are that a settlement is final and irrevocable. Therefore, you have no recourse if your condition changes for the worse.