Should You Accept a Lump-Sum Disability Insurance Settlement?

At some point during your disability claim, your insurance company may offer a lump-sum settlement. This can take the form of a one-time payout or a structured settlement that provides periodic payments that will end sometime in the future. In either case, payment of the settlement will terminate the insurance company's responsibilities to you.

Deciding whether to accept a lump-sum settlement is a highly individualized matter. For some people, a settlement is in their best interests. Others are better off rejecting the offer and continuing to draw disability benefits.

Contact DarrasLaw for a free initial consultation about a lump-sum settlement offer.

Settling With Insurance Companies — Yes or No?

"Should I accept a lump-sum disability insurance settlement?" At DarrasLaw, we are frequently asked that question. Only a thorough and comprehensive analysis can provide an answer.

An attorney at DarrasLaw can review your case and advise you of your best course of action. Some of the many issues we will review could include:

  • Your future medical needs, fluctuation of care and treatment
  • The length of time you will be eligible for benefits if you do not accept the offer
  • How close you are to retirement and eligibility for Medicare/Medicaid
  • Your eligibility for workers' compensation or Social Security Disability benefits
  • The potential effects of offsets
  • How the insurance company is calculating the net present value of your future benefits

Based on these and other factors, we can provide you with the objective advice you need to make a sound decision about the offer. If a settlement is right for you, we may make a counteroffer seeking better terms.

DarrasLaw is nationally recognized as America's top disability law firm. We stand ready to provide you with advice and representation that can protect your rights.

Free Consultation With a Lawyer

For a free initial consultation about your case, contact DarrasLaw.