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Illinois Workers Comp settlement formula.

Chicago, IL |

I may be asking my questions wrong. I know there is a formula the insurance company and IWCC have to calculate a settlement for the injured worker. I am back to work full-time, no restrictions, and was asked by my adjuster, "how much do you want to settle"? My adjuster has paid for everything and my weekly disability checks for 9 months. I have never had a problem, until now. I just don't know how much to ask for, but if I knew the formula, I would. Please help! My doctor told me to ask for minimum 5% of my annual salary for the remaining of my life, but that seems exorborant...like $250,000. Any ideas or suggestions?

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Attorney answers 1

Posted

Settlement negotiations required skill and experience. I previously made an observation and say there is no formula or easy answer that can substitute for the advice of an experienced work injury attorney. You need to sit down with a professional lawyer who handle legal negotiations ever day to get the most potential settlement.

See my prior answer which is just the tip of the iceberg on the calculations for a "lifetime" settlement.

http://www.avvo.com/legal-answers/i-was-told-there-is-a-formula-to-calculate-how-muc-225022.html

Good luck to you.

God bless.

NOTE: This answer is made available by the Illinois lawyer for educational purposes only. This observation is not like a communication with a lawyer with whom you have an attorney-client relationship along with all the privileges that relationship provides.

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