Mesothelioma Settlements & Verdicts
A settlement or verdict are two potential avenues for mesothelioma patients and their families to receive help paying for expense related to treatment, lost income, and related items.
A mesothelioma diagnosis is difficult in itself, not to mention when facing the growing costs for treatment and care. Mesothelioma settlements are one way that patients and their families seek compensation to help will medical bills and other financial burdens. Typically, an individual files a legal claim against an asbestos company or trust fund, and either a settlement is reached or the case is taken to trial for a verdict. Settlements are the main way in which mesothelioma victims gain compensation, though there are other compensation options available.
Mesothelioma Settlements vs. Verdicts
If a mesothelioma victim or their loved one decides to take legal action through a mesothelioma claim in response to their diagnosis, the claim can end with a settlement or with a verdict. Ultimately, it’s up to the individual whether or not to accept a settlement, if one is offered. There are a variety of points to keep in mind when making this decision and when preparing for the legal process.
For those questioning whether or not to accept a settlement or continue towards a verdict, there are some factors to keep in mind, including:
Compensation Amount: For mesothelioma patients who have solid evidence, they may wish to take the case to trial in the hopes of receiving greater compensation.
Cancer Progression: Individuals with late-stage mesothelioma may accept a settlement that will help them pay for needed cancer treatments now.
Risk Aversion: Some mesothelioma patients may wish to accept a settlement for a guaranteed amount, rather than risk getting nothing from a jury verdict.
Strength of Evidence: Asbestos companies may wish to go to trial rather than offer a settlement if they believe that a mesothelioma victim cannot make a good case.
Timeliness: Settlements typically are paid right away, whereas a verdict award may take years to acquire as the case goes through appeal after appeal.
Average Mesothelioma Settlements
Understanding compensation options is often a determining factor for mesothelioma patients and their families as they consider a mesothelioma lawsuit. Ultimately, each case is going to be different, so average numerations aren’t applicable to everyone. However, they can provide an idea of what patients in the past have received for their pain and suffering.
According to recent reports, the average mesothelioma settlement amounts fall between $1 million and $1.4 million, with trial verdicts falling around $2.4 million. Although this is an average, actual compensation amounts of mesothelioma cases can vary greatly, as seen through the highlighted cases below.