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Should I Accept A Lump Sum Settlement?

If you have received an offer of a lump sum settlement from the workers' compensation insurance company, you have an important decision to make. Upon acceptance of the offer, your workers' compensation claim and the benefits you receive will end.

It makes sense for some injured workers to accept a lump sum settlement. Others are better off declining the offer, keeping their claims open and continuing to receive benefits. The financial stakes in such a decision are high, and what you decide could significantly affect the amount of medical and rehabilitation services you receive. At this critical point in your life, an experienced workers' compensation lawyer can clarify the issues in such a decision and help you make the right choice.

Call Cummings Law Firm today at 203-754-7779 for a free analysis of your lump sum settlement offer. We serve in New Haven, Waterbury, and throughout the region.

Factors Considered In Valuing A Lump Sum Settlement

There are many factors to consider in valuing a lump sum settlement.  The first task is to obtain reports from your medical providers setting forth your diagnosis, prognosis, future treatment required, permanent disability and work restrictions imposed by your injury.  Using those reports as guidelines, we can calculate a fair and equitable demand to resolve your claim.  The valuation is based on your permanent disability rating, estimated future increase disability caused by the natural aging process, time out of work due to your injury, estimated cost of future medical treatment and medications, time you will be disabled from work, work restrictions, and 308a benefits for the time you may incur looking for work.  All of these factors are put in a written demand package and submitted to the insurance company to evaluate their future financial exposure.    

We Can Help You Make The Right Decision

Attorney James Cummings has been handling Connecticut workers' compensation claims on behalf of injured workers for many years. He is dedicated to helping injured workers obtain all of the medical care and workers' compensation benefits, they are entitled to receive.

When deciding to accept or decline a workers' compensation settlement, there is far more to consider than just the dollar amount of the offer. Mr. Cummings will carefully analyze the issues in your case and recommend your best option.

Some of the factors he will consider include:

  • The nature of your injury
  • Your disability rating
  • Your ability to do other work
  • How close you are to retirement
  • Your need for medical care or surgery in the future

Connecticut workers' compensation laws are complex, and without guidance it may be difficult a layperson to understand everything. James Cummings will explain things in clear language, answer your questions, and give you the confidence you need to make sound decisions.

Call Us — We Can Help

To schedule a free consultation about a lump sum settlement, contact Cummings Law Firm at 203-754-7779.


Cummings Law Firm is committed to answering your questions about Workers' Compensation & Personal Injury issues in Waterbury, CT and its surrounding counties.

We'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.