Is it Possible to Get Millions of Dollars From a Workers’ Comp Claim in Illinois?
After a major workplace accident in Chicago, you might wonder how much compensation you will receive. This is a natural and completely understandable concern. You might face a lifetime of disability, low income, and psychological strife. A few million dollars is an understandable goal when facing these life-changing consequences. But is this realistic? This is something you might want to explore with a workers’ compensation lawyer in Illinois.
Are There Caps for Workers’ Compensation in Illinois?
To determine whether it is possible to receive millions of dollars for a workers’ compensation claim in Illinois, you first need to consider the upper limits or “caps” associated with this system. The caps are complex, and they depend on your unique circumstances. Different upper limits may apply depending on whether you have experienced a disfigurement. You might also face different limits if you can no longer use a certain part of your body.
That being said, there are theoretically no caps on workers’ compensation settlements. This means that regardless of the various rules and limits laid out by Illinois law, you could potentially receive a settlement worth millions of dollars.
Higher Settlements Are Associated With Permanent, Life-Altering Injuries
You are much more likely to receive a seven-figure settlement if you have suffered some kind of life-altering, permanent injury. Examples might include the amputation of multiple limbs, spinal cord injuries, severe traumatic brain injuries, or catastrophic facial disfigurement.
That being said, you may still want to explore the possibility of higher compensation if you have suffered a more minor injury. For example, a fractured limb could still result in a relatively high settlement under certain circumstances. Perhaps you fractured your arm in multiple places, and it has not healed correctly.
Your Lump-Sum Settlement May Be Your Last Source of Income
At first, millions of dollars might seem like a lot of money. However, you should remember that this might be the last time you ever receive any real income. If your injuries prevent you from ever working again, you have to manage your finances effectively. You may need to spend this money carefully on medical bills for the rest of your life, and healthcare is not cheap.
Once the insurer provides the settlement, they will close your case. You cannot go back to the insurer at a later date and ask for more money. This is why it is so important to maximize your settlement when you have the chance, ideally with assistance from a workers’ compensation lawyer in Chicago.
Can a Chicago Workers’ Compensation Lawyer Help Me?
A Chicago workers’ compensation lawyer may be able to help you achieve financial security after your injury. While seven-figure workers’ comp settlements are relatively rare, they are certainly possible. If your injuries are particularly life-altering and severe, you may be more likely to receive higher compensation. Discuss these subjects in more detail with Connolly Injury Law today.
Source:
illinois.gov/agencies/agency.iwcc.html
