The #1 Trick to Getting a HUGE Workers' Comp Settlement!

When it comes to securing a significant workers' compensation settlement, there's one simple yet highly effective strategy that can boost your settlement amount by as much as 50%. In this post, I'll explain this key tactic and how you can leverage it in your own case. But first, it's essential to understand the process your workers' compensation claim goes through and how its value fluctuates over time.

Understanding the Value of Your Case Over Time

Think of your workers' compensation case value as a line graph. At the beginning of your case, the potential value is at its peak because you haven't yet received any medical treatment or been compensated for your time off work. As you start to receive these benefits, the value of your claim begins to decrease, which means the potential settlement also diminishes. This reduction is normal and reflects the benefits you're entitled to.

During the early stages, the exact value of your case remains uncertain due to various unknowns. How much medical treatment will you need in the future? Will you be permanently disabled? If so, to what extent? Will you be able to return to work, or will you need job retraining? These uncertainties make it difficult to pin down a precise value for your claim, giving you and your lawyer more room to negotiate for a substantial settlement.

The Critical Role of the Permanency Hearing

Eventually, your case will reach a point where a judge will evaluate your degree of permanent disability at a permanency hearing. Once this assessment is made, the value of your case becomes much clearer, leaving less room for negotiation. This is why timing is crucial when it comes to settling your case.

Finding the Sweet Spot for Settlement

The optimal time to settle your workers' compensation case is when it's evident that you will have a permanent disability but before the judge determines your level of permanent disability. Here's why this timing is advantageous:

1. Maximized Negotiation Leverage: Before receiving your permanency rating, your lawyer can argue that the value of your case is high and that the insurance company faces significant exposure. They can emphasize the potential for a high level of permanent disability and the need for extensive future medical treatment.
2. Uncertainty Favors Negotiation: Because the insurance company doesn't know exactly how much exposure they'll face, they are often more willing to negotiate. This uncertainty can result in a settlement that's up to 50% larger than if you waited until after the permanency hearing.
3. Avoiding the Risk of Zero Settlement: I've seen instances where injured workers who declined settlements before the permanency hearing ended up with nothing. Settling before permanency not only often results in a bigger settlement but can also be a safer option.

Why Do Insurance Companies Agree to Early Settlements?

You might wonder why insurance companies would agree to settle before permanency if it's more beneficial for you. The reason is that determining your degree of permanent disability is expensive for them. They have to cover the costs of doctors, hearings, court reporters, and their legal team. By settling early, they can avoid these expenses and the uncertainty of a judge's decision.

How to Implement This Strategy

To utilize this strategy, simply ask your lawyer to initiate settlement negotiations once it's clear that you'll have a permanent disability but before your permanency hearing. It's a straightforward approach that can significantly impact the outcome of your case.

For more tips on securing a large workers' compensation settlement, check out my other video where I reveal eight additional secrets, one of which can potentially increase your settlement by 150%. Click to watch, and I'll see you there!

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