At Howie, Sacks & Henry clients often ask how long they will receive compensation after settling their claim.
Most claims are settled on a full and final basis, which means that all parts of the claim are settled at the same time for a single lump sum payment.
If your claim is against an insurer for disability or accident benefits, any regular benefits paid by the insurer for income loss, medical and rehabilitation services or attendant care will stop as of the date you sign the settlement documentation.
Depending on the type of claim being settled, you may have the option to structure all or a portion of your settlement funds. This would result in your receiving guaranteed periodic payments on an agreed schedule. Some of our clients prefer this option as it provides financial security to meet their ongoing treatment and support needs.
As a general rule, if you settle for a single lump sum payment you can expect to receive your funds within 4 weeks of the date of the settlement.
At Howie, Sacks & Henry we use all of our resources and expertise to get the best result possible, and to get you the compensation you deserve.
If you have any further questions, please give me a call.