Legal Question in Workers Comp in Virginia

Re: settlement amount

Dear Sir:

Your potential compensation in a workers comp case is usually 500 weeks. If you were to get that amount in a lump sum, you might be willing to settle for less. Thus, if the remaining 500 weeks were worth $150,000, it may be more valuable to you to take a lump sum of $125,000.00. On the other hand it is impossible to put a value on lifetime medical care. This depends on the yearly medical expenses you incur and if your doctors say these expenses will continue indefinitely. Thus, if you incur $3,000 in medical expenses each year and you expect to live another 40 years, then $3,000 x 40 years would be $120,000.00 for future medical expenses. However, if it is unclear whether or not you will incur future medical expenses, the insurance company will be very reluctant to give you any money for future expenses. No one can predict the future.

Gerald G. Lutkenhaus

1-800-256-8862

25 years of doing workers comp cases