Lump Sum Settlements for FedEx Drivers
FedEx workers are at risk of a range of workplace injuries from herniated discs to shoulder injuries to spinal cord injuries and catastrophic injuries from accidents. If you were injured on the job for FedEx, you may be offered a lump sum settlement. Taking the settlement could have consequences beyond what you anticipate. You should call the experienced Chicago workers’ compensation attorneys of Katz, Friedman, Eisenstein, Johnson, Bareck & Bertuca for a consultation before taking the settlement.Lump Sum Settlement of Workers’ Compensation Benefits
If you were injured on the job in or around Chicago, you could be eligible for:
- Medical benefits,
- Temporary total disability benefits,
- Temporary partial disability benefits,
- Permanent total disability benefits,
- Permanent partial disability benefits,
- Vocational rehabilitation benefits.
Some of these benefits come with a cost of living adjustment.
Typically, workers’ compensation benefits are paid to injured FedEx workers over a period of years. However, if you are left with permanent injuries, FedEx and its insurer may offer you what’s known as a lump sum settlement.
A lump sum settlement is a single payment that covers the full amount of benefits and is provided at the time of settlement rather than periodically over a longer period of time. For instance, if you worked for FedEx and you were in an accident that resulted in an arm amputation such that you could no longer drive for the company, but you would only need follow up care in the future, you might be offered a lump sum settlement that covered the future medical expenses, along with the disability pay you would have received. It’s important not to simply accept a settlement offer without talking to our Chicago workers’ compensation attorneys.When Should You Take A Lump Sum Settlement?
You should not settle your case until you’ve gotten to maximum medical improvement, which is the condition beyond which you won’t get better or worse even if you continue to receive further care. You may continue to have a partial or total disability at the point of maximum medical improvement. This point is determined by your treating physician; it is crucial to select a trustworthy treating physician.
It is a risk to settle your case for a lump sum before you reach maximum medical improvement because accepting the settlement will close the case. Generally in Illinois there is a presumption that any settlement agreement reached within 7 days of an injury is fraudulent.
In some instances, it may be appropriate for our attorneys to negotiate a settlement that allows you to access future medical care, or that includes compensation in case you need medical care down the road or otherwise change the terms of the agreement so that your future options are not fully closed off due to the settlement.What are Advantages of Accepting a Lump Sum Settlement as an Injured FedEx Worker?
In some cases, a lump sum settlement is advantageous because if you wind up not suffering as significant or permanent a disability as your treating doctor predicted you would, you could wind up with greater benefits than you actually need.
The Illinois Industrial Commission will need to accept your lump sum settlement.Can I Bring a Third-party Lawsuit?
Some FedEx workers are injured in an accident due to another driver’s negligence. It may be appropriate to sue the other driver for economic and noneconomic damages. In connection with a third-party lawsuit, FedEx or its insurer may have subrogation rights.Consult a Seasoned Chicago Attorney Before You Agree to a Lump Sum Settlement
If you were injured while working for FedEx in or around Chicago, talk to the seasoned lawyers of Katz, Friedman, Eisenstein, Johnson, Bareck & Bertuca before taking a lump sum settlement for your workers’ compensation claim. We represent injured FedEx workers in Chicago, Quincy, Aurora, Champaign, and Rockford, as well as Kane, Cook, Winnebago, Adams, and Sangamon Counties. Call us at 800-444-1525 or 312-263-6330 or complete our online form.