How Much Compensation Can You Get for Mesothelioma?
Mesothelioma compensation differs for each type of claim. According to a 2016 Mealey’s Litigation Report, the average mesothelioma trial payout is about $2.4 million. The average settlement ranges from $1 million to $1.4 million.
If a mesothelioma claim goes to trial, a settlement could be reached or a jury could determine the amount of compensation if the defendant is found guilty of the asbestos exposure. Most cases settle before trial.
If a loved one dies from mesothelioma, compensation may be available to family members, spouses or dependents through a wrongful death lawsuit filed on behalf of the loved one’s estate.
Mesothelioma compensation helps cover medical expenses, lost wages, travel costs, and other losses. It also provides financial security for families when a loved one can no longer work.
There may also be other types of financial assistance available. It’s important to weigh all of your available options for compensation to decide what is best for you and your family.
Mesothelioma compensation averages from $1 million to $2.4 million. Financial compensation for mesothelioma may come from asbestos trust funds, settlements, or jury verdicts. It typically takes less than one year to receive mesothelioma compensation from trust funds and settlements. It may take years to receive compensation from trial verdicts.
How Long Will It Take to Get Compensation?
Reaching a verdict from a jury trial and then receiving compensation could take years, but defendants may offer to settle quickly, possibly within several months. The amount of time it takes to receive compensation also depends upon the type of claim that you file.
Money from asbestos trusts may be received within a few months.
Deciding whether to file a lawsuit is an important decision in any situation, especially if you are coping with the stress of a terminal illness. A mesothelioma lawyer can provide the most accurate estimate of how long it might take to receive compensation for your unique case.
Types of Mesothelioma Compensation
Sources of mesothelioma compensation include asbestos trust funds, as well as verdicts or settlements obtained through lawsuits.
Legal claims directed to asbestos trust funds outnumber mesothelioma lawsuits because many asbestos companies have gone bankrupt. This does not necessarily mean that those companies have escaped liability.
In bankruptcy proceedings, many asbestos manufacturers have been ordered to set up trust funds with enough money to compensate future asbestos victims. Most trust funds contain hundreds of millions of dollars, and some even contain billions.
A mesothelioma lawyer may recommend that you file both a trust fund claim and a lawsuit depending upon which asbestos products are relevant to your case.
Asbestos Trust Funds
If you develop mesothelioma
A mesothelioma personal injury lawsuit frequently is the best type of claim to file if your family wishes to receive compensation to pay for medical bills, lost wages and other expenses. A mesothelioma attorney can walk you through the process and handle every legal detail while you focus on treatment and recovery.
Another option is filing a wrongful death claim when a person dies of mesothelioma. Surviving family members often represent the estate when filing this type of claim.
THERE ARE TWO TYPES OF MESOTHELIOMA LAWSUITS:
- Personal Injury Claims: These lawsuits are filed by people diagnosed with mesothelioma seeking compensation to cover medical bills, lost wages and other expenses.
- Wrongful Death Claims: These lawsuits are usually filed by the estate of a deceased loved one who died of mesothelioma.
If the defendants do not settle and your case goes to trial, a court or jury will decide your case. If the defendant is found liable, the trial verdict will include monetary compensation. Each mesothelioma case is unique, and there are no set guidelines for compensation.
If you win, the amount owed to you depends on the facts of your case and other factors such as medical costs and lost income.
According to a 2021 leading industry report, more than 3,600 mesothelioma lawsuits seeking compensation were filed in the U.S. in 2020.
A settlement happens when a defendant offers to pay compensation to a mesothelioma plaintiff in exchange for discontinuation of the lawsuit.
as a result of exposure to an asbestos product made by a company that went bankrupt, your legal claim for damages may be processed through the bankrupt company’s trust fund rather than the court system.
Trust fund claims generally are processed quicker than mesothelioma lawsuits because they don’t have to be handled by the court system. Claimants typically receive compensation within a couple of months.