How Much Is a Mesothelioma Case Worth?

If you’ve been diagnosed with mesothelioma, then you’re probably wondering how much your case is worth. After all, this could be your only chance to get financial compensation from the company that exposed you to asbestos and caused your cancer. You deserve compensation for your medical bills, lost wages, pain, and suffering, and other damages related to the illness — but how much money can you really receive?

How Much Is a Mesothelioma Case Worth

 

If you or someone you love has been diagnosed with mesothelioma, you’re probably wondering how much compensation your case is worth and how to go about getting it. This article will answer those questions and help you get started in the process of receiving compensation for your illness.

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Outline

  • Legal settlement
  • Trial verdict
  • Lump-sum payment
  • Annuity payment
  • Structured Settlement

Legal settlement

When it comes to mesothelioma case worth, legal settlements are typically much lower than trial verdicts. Part of that is because parties can reach a settlement without having to go through litigation (although most cases do go to trial). A large factor in determining how much money you’ll get from a settlement depends on where you live and your life expectancy, according to J.

Trial verdict

According to recent Mealey’s® Litigation Reports, trial verdicts for mesothelioma can range anywhere from $500,000 to more than $10 million. In some cases, when there are multiple defendants in one case or additional types of damage other than death or injury, even higher awards may be granted. Trial verdicts that were less than $1 million occurred most often when only asbestos exposure or general negligence claims were asserted by plaintiffs. On average, jurors award almost twice as much in personal injury damages when there is a new and severe disease such as mesothelioma involved.

Lump-sum payment

As mentioned above, there are multiple ways to receive financial compensation for mesothelioma. One of those ways is to receive a lump-sum payment from an insurance company. These payments are similar to what you would receive from personal injury protection (PIP) in your auto insurance policy or under your own homeowner’s insurance policy. As with PIP and homeowner’s insurance, however, these policies aren’t always easy to navigate on your own.

Annuity payment

The average mesothelioma case value for trial verdicts was $2.4 million in 2017, up from $1.9 million in 2016 and $1.7 million in 2015 (see graph). Annuity payments of over $500,000 to mesothelioma patients were recorded in every quarter of 2017 and reached as high as more than $1 million per quarter by year-end, according to Mealey’s Litigation Report: Asbestos Litigation Report: Claims & Trends (Oct.-Dec. 2017). The report also noted that median monthly payments increased to between $5,000 and $10,000 per month during Q3 2017 compared with Q3 2016. In its last asbestos litigation update report on Dec. On average, jurors award almost twice as much in personal injury damages when there is a new and severe disease such as mesothelioma involved. One of our highest settlements was an award of $8.2 million in a wrongful death claim on behalf of a 55-year-old woman who died after developing malignant pleural mesothelioma (MPM). Her husband received another $7 million for loss of consortium because his wife was his sole source of emotional support and companionship.

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Structured Settlement

When choosing how to get compensation for mesothelioma, it’s important to recognize that there are multiple ways to receive financial compensation. Many people wonder if their best option is through filing a lawsuit or taking advantage of one of two structured settlement payment options: an annuity or life-income plan. If you want to know more about your options, it may be worth talking with an attorney. In some cases, when multiple victims are suing as part of a class-action lawsuit for mesothelioma, structured settlements can be used as alternatives for class members who aren’t able to take part in that particular legal claim.

Conclusion

If you have been diagnosed with mesothelioma, you may be asking yourself how much your case is worth and what kind of compensation you can receive as a result of your illness. As with other personal injury claims, the actual monetary value of your case depends on multiple factors, including the stage of your cancer and the extent of your injuries or damages. In this article, we will discuss the average mesothelioma case value and answer some frequently asked questions about legal settlements and trial verdicts in order to give you an idea of what kind of compensation you can expect

 

 

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