I fell from a roof and shaddered my right heel bone in about 50 places when i landed on my feet. I had surgery 10 days later and they put my heel back together with about 9 bolts/srews and a steel plate on 1/28/07. It took until now to be released to part time work. My doctor has my records marked as a possible permanent impairment. I know i can work for about 2 hours before it starts hurting and i'm walking with a good limp after about 4 hours. My doctor said this won't be wrapped up until febuary. The insurance company wants to meet with me next week. I think they are wanting to offer me a settlement. It seems to be too soon for this. As an Licensed Electrician i usually make around 50.000 per year or better. I'm worried about whether i will be able to perform til i retire which is another 37 years or better before that happens. That's pretty much all the details. What kind of settlement should i consider if the insurance company tries to force my hand?
2007-08-04 03:03:29 · 9 answers · asked by gerald k 1 in Business & Finance ➔ Insurance
do what your lawyer tells you to do . I mean you basically have the next 37 yrs to think about and how will you support yourself ? I mean you really should listen to your lawyer and do what he tells you . good luck to you and I wish you well.
2007-08-04 03:10:38 · answer #1 · answered by Kate T. 7 · 0⤊ 1⤋
I'm not that familiar with wc. However, I would not run to a lawyer right away. Remember, what ever settlement you get a lawyer is going to take 25-40% - depending on your state laws.
Sit down with the insurance company and hear them out. See what they say and have to offer. Let them know about your concerns. Ask any questions you have. Once the adjuster knows what your concerns are, the insurance company is in a better position to try and come up with a settlement that meets both of your needs (theirs - to get the file close, yours - concern about future bills/limitations)
Just because they extend an offer does not mean you have to take it. You don't have to make any decisions at the meeting. It's ok to hear them out and take a few days to think about it and get your dr's opinion.
It's by keeping the lines of communication open with the insurance company that the claim will be settled at the appropriate time.
2007-08-04 11:01:37 · answer #2 · answered by Boots 7 · 0⤊ 1⤋
You can figure it out. If you are limited to working, say four hours a day, how much investment will be require to get your income up to $50,000 a year? And remember, the cost of living and your pay will be going up for the next 37 years. A good financial advisor will be able to help with the calculations. Meet with the insurance company and take their offer under advisement. Were I involved, I'd wait until it became clear what degree of functionality would be recovered. Might be a couple of years before that is clear.
2007-08-04 11:19:22 · answer #3 · answered by DelK 7 · 0⤊ 0⤋
Well, they can't make you settle.
Some things to keep in mind - future medical bills related to the injury, and your salary until you're 65 - WITH cost of living increases. There isn't any pain and suffering with Workers Comp.
It won't hurt to meet with them, just don't sign anything. AND, schedule an appointment or two with your doctor AND ANOTHER DOC, and ask them what's likely to happen. It's true, it will be at least 6 more months, likely, before they know if you've got a permanent partial disability from this.
2007-08-04 11:26:49 · answer #4 · answered by Anonymous 7 · 0⤊ 0⤋
Personally, it is still 2007 so I would say it is way too soon to consider any type of settlement. I would stay on Work Comp as long as possible with an injury this new. I would definitely not consider a settlement without consulting a workplace personal injury attorney for their two cents worth. Good luck - you have many years ahead of you to rehabilitate and adjust to the "new" you.
2007-08-04 13:25:08 · answer #5 · answered by PLzHeLPMe 3 · 0⤊ 1⤋
In general, injuries get better over time, not worse. However, since you are still treating, and your doctor hasn't set your disability rating yet, I wouldn't accept a settlement yet. The company can't force you to. (I've seen comp claims open for 50+ years.) Wait until you are more comfortable with how you are going to heal.
2007-08-05 00:45:04 · answer #6 · answered by Phil 5 · 0⤊ 0⤋
you can see what they offer but you should wait until your doctor decides if the injury is permanent before you settle anything. also tell them you want a nag ( spelled wrong) release so if you need more surgery in the future for your injury they will have to cover the hospital bill. if i were you i would contact an attorney to maximize your settlement.
2007-08-04 10:12:47 · answer #7 · answered by george 2 6 · 0⤊ 0⤋
Consult a workers' compensation attorney BEFORE you speak with anyone from the insurance.
2007-08-06 22:16:39 · answer #8 · answered by Let me steer you 7 · 0⤊ 0⤋
your attorney will give you a better answer than this place.
2007-08-04 10:10:45 · answer #9 · answered by Michael M 7 · 0⤊ 1⤋