Mesothelioma compensation averages between $1 million and $2.4 million. Financial compensation for mesothelioma can come from asbestos trust funds, settlements, or jury judgment. It typically takes less than a year to receive mesothelioma compensation from trusts and settlements. It can be years before you receive compensation from court judgments.
How Much Compensation Can You Get for Mesothelioma?
Mesothelioma compensation is different for each type of claim. According to a 2016 Mealey trial report, the average payout for a mesothelioma trial is about $2.4 million. The average billing ranges from $1 million to $1.4 million.
If a mesothelioma claim goes to court, a settlement could be reached or a jury could determine the amount of compensation if the defendant is found guilty of asbestos exposure. Most cases are settled before trial.
When a loved one dies from mesothelioma, family members, spouses, or dependents can receive compensation through a wrongful death lawsuit filed on behalf of the loved one's estate.
Mesothelioma compensation helps cover medical expenses, lost wages, travel expenses, and other losses. It also provides financial security for families when a loved one is no longer able to work.
Other types of financial assistance may also be available. It's important to weigh all of the compensation options available to decide what's best for you and your family.
How long does it take to get compensation?
It can take years to reach a jury verdict and pay compensation, but the defendants may offer to reach a settlement quickly, possibly within several months. How long it takes to get compensation also depends on the type of claim you are making.
Funds from asbestos trusts can be received in a matter of months.
The decision to file a lawsuit is an important decision in any situation, especially when you are dealing with the stress of a terminal illness. A mesothelioma attorney can provide the most accurate estimate of how long it might take to receive compensation for your particular case.
Types of Mesothelioma Compensation
Sources of mesothelioma compensation include asbestos trust funds and judgments or settlements obtained through court proceedings.
Legal claims directed at asbestos trust funds outweigh mesothelioma lawsuits since many asbestos companies have gone bankrupt. This does not necessarily mean that these companies have escaped liability.
In bankruptcy proceedings, many asbestos manufacturers have been directed to set up trust funds with sufficient money to compensate future asbestos victims. Most trust funds contain hundreds of millions of dollars, and some even contain billions.
A mesothelioma attorney may recommend that you file both a trust fund claim and a lawsuit, depending on which asbestos products are relevant to your case.
Asbestos Trust Fund
If you develop mesothelioma as a result of exposure to an asbestos product manufactured by a bankrupt company, your legal claim for damages may be processed through the bankrupt company's trust fund and not through the court system.
Trust fund claims are generally processed faster than mesothelioma lawsuits because they do not have to go through the court system. Applicants usually receive compensation within a few months.
A mesothelioma personal injury lawsuit is often the best type of lawsuit when your family wants to recover medical bills, lost wages, and other expenses. A mesothelioma attorney can walk you through the process and cover every legal detail while you focus on treatment and recovery.
Another option is to file a wrongful death claim when a person dies of mesothelioma. Often, surviving family members represent the estate in filing these types of claims.
THERE ARE TWO TYPES OF MESOTHELIOMA COMPLAINTS:
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 Lawsuits: These lawsuits are typically brought by the estate of a deceased loved one who died from mesothelioma.
If the defendants do not agree and your case goes to court, a court or jury will decide your case. If the defendant is found liable, the trial verdict provides for monetary compensation. Every mesothelioma case is unique and there are no set guidelines for compensation.
If you win, the amount you are owed will depend on the facts of your case and other factors such as medical expenses and lost income.
More than 3,600 mesothelioma lawsuits were filed in the United States in 2020 for compensation, according to a leading 2021 industry report.
A settlement occurs when a defendant offers to pay compensation to a mesothelioma complainant in exchange for the cessation of litigation.
Many mesothelioma lawsuits are settled before the trial. A qualified asbestos law firm will negotiate settlements on your behalf and advise you on whether to accept compensation or go to court.
Several factors affect whether your mesothelioma lawsuit reaches a settlement. Some defendants decide that settling a claim is cheaper than charging more attorneys' fees and provides certainty of how much payment will be made, rather than risking lost litigation and an uncertain amount of damages.
Other defendants are willing to risk a trial because they can choose to settle at any time, especially when the evidence in the case appears to favor the defendant.
The most important step is finding a lawyer with the right experience. In particular, it is beneficial to select an attorney with extensive experience handling mesothelioma lawsuits. They have the experience needed to handle your case and maximize the compensation that may be available to you.
The right mesothelioma lawyer will help you understand your options and will not promise any specific amount of compensation.
Get an Attorney: Find out what compensation you may be entitled to by speaking with an experienced mesothelioma attorney who can help you determine what's best for you and your family.
Period of Determination: Work with your attorney to help establish the facts about your history of asbestos exposure. This process generally focuses on the places you worked and the products you were exposed to.
Consider your options: Consider any compensation options your attorney may suggest, including trust funds and court cases.
Accept or Reject Settlement Offers: If you decide to file a claim, you may need to consider settlement offers from defendants. Your attorney will advise you on whether to settle your claim or go to court.