What You Need to Know Before Accepting a Workers' Compensation Buyout

What You Need to Know Before Accepting a Workers' Compensation Buyout

Have you sustained an injury that was caused by an accident at work?  Have you been suffering from a long recovery associated with a workplace injury?  Whenever you have suffered from an injury that was caused in the workplace, you are likely eligible for workers' compensation benefits.  These benefits range from compensation for medical expenses, missed wages, pain and suffering, or in extreme cases, wrongful death.   As you work through your legal process, you'll want the advocacy of a lawyer familiar with workers' compensation in Orlando.  They will be able to advise you on things like whether it is advisable and worthwhile to take the buyout offered to you.  There are a few things you should know about these buyouts.

Consider the Future Course of Your Treatment

Sometimes it can be worthwhile to consider taking the insurance buyout, but you will first want to consider whether the injury will present itself in the future.  If you believe that the injury has caused all the pain and suffering it will, then a buyout is worth it.  However, if you still require many hours of therapy, miss work, or struggle with your mobility, then it might be better to take your case to court to fight for a higher compensation.

Trust the Medical Experts

Before you consider a buyout, you will want to be evaluated by a medical professional.  Typically, your attorney will also suggest this, and it may also be required by the legal team.  However, you should be evaluated to discuss the course of your treatment and if anything will persist into the future.  Understanding the lasting effects of your injury will help you make the best choice for your situation.

You Don't Have to Take It

Buyouts are frequently offered before the lawsuit goes to court in an attempt to settle the case quickly and allow all the parties to move forward.  However, just because it is offered doesn’t mean that you need to take it.  In fact, you will want to consider your personal situation first.  Because this is customary, that doesn't mean it is the best thing for your situation.

Don't Be Hasty

Insurance companies and agencies that work to resolve workers' compensation in Orlando will typically start providing you with buyout offers as soon as you file your report and receive initial medical care.  Their hope is that you will settle quickly in an attempt to save money if your treatment is more involved.  Don't make any hasty decisions if you wish to see how your recovery affects your life.  Rushing into a settlement can end up being detrimental if your injury presents itself differently or worsens in the future.

These are a few facts that you should know about workers' compensation buyouts.  Before you choose whether this buyout is a good option for you, you should always get the professional guidance of our attorneys that specialize in workers' compensation in Orlando.   They will be able to advocate for you and advise you on the right choice for your circumstances.  Contact us to schedule a consultation with our experienced attorneys today.

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