Should You Take a Lump Sum Worker's Compensation Settlement?
If you are receiving New Jersey workers' compensation benefits, your employer's insurance carrier may ask you to take a lump sum settlement in lieu of bi-weekly payments. On the surface, the large dollar figure may look appealing. In many cases, a lump sum settlement makes sense and it is the right thing to do. But in cases where you are not sure whether you have attained maximum medical improvement, you may be cutting yourself short by accepting a lump sum and forfeiting your right to re-open the case in the future.
Before you make your decision about accepting a lump sum payment, look beyond the money. Talk to an attorney at Seigel Capozzi Law Firm LLC to get straight answers. We will explain the options and help you decide what will be best for you and your family.
We are your complete workers' compensation and third party liability law firm. For over 35 years, our personal injury trial lawyers have been standing up to protect the rights of injured workers and victims of negligence throughout New Jersey.
Let us answer all of your questions about New Jersey workers' compensation claims, including:
- Permanent and temporary disabilities
- Injury by accident and occupational disease claims
- Lump sum payments
- Medical compensation benefits and seeking treatment
- Returning to work
- Third party liability
Learn more at our Workers' Compensation FAQ page
When you accept workers' compensation benefits, you forfeit your right to sue your employer for additional damages, except in cases of the most serious negligence. However, you still have the right to sue a third party who may be liable for paying you for your medical costs, pain and punitive damages. These third parties often include the property owner, manufacturers of defective equipment, and even negligent subcontractors working on the job site. We are your single-source personal injury law firm for workers' compensation and third party liability claims
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Seigel Capozzi Law Firm LLC attorneys focus on one thing — your rights. Contact our offices to arrange a free consultation to discuss your lump sum settlement questions with one of our trial lawyers today. From our offices in Ridgewood, we represent clients in the Passaic, Bergen and Hudson County regions, and throughout northern New Jersey.
