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| *Ostroff, Fair and Company>>>Insurance |
How long does it take to get a settlement from worker comp.? |
I am expecting a lump sum settlement from worker comp insurance. I live in NM. It's been over six months since I lost my job because of my injury. Does anyone know how much longer it could take. The insurance company is Gallager Basset Gallager Basset is not an insurance company, they are probably an agency. They CAN'T make a settlement. You should get the settlement within three weeks of agreeing on the settlement amount with the claims adjuster. Have you spoken to the adjuster, and agreed on a settlement amount? If not, it can take years and years. You need to talk to whomever told you you are getting a settlement, and ask them what the holdup is. If it's just a buddy, or someone else who has no authority to act on behalf of the claim, just be aware that you might NOT be entitled to a settlement. In which case, you need to talk to the adjuster about settling the claim. I'm assuming you're permanently disabled. Also, you might want to file for social security disability. Source(s): agent, 20+ years Two years. Honestly. If it's litigating it can take a long time. A lump sum isn't always a bad thing, however, often when you do that, your kissing off your lifetime medical if anything should happen as a result of your current injury. A lot of people do this for the large amount they receive all at once and then they go out and blow it. If it's an injury that is going to require medication or other things down the line, then if the money is gone, so is your right to future medical and now it's up to you to incur the costs. I don't think that's always explained to people. Especially not by lawyers, they want their 12% plus fair share. it could take another 6 months. They aren't too eager to pay out any money. They are hoping you'll either give up trying or die... |
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