Many asbestos companies eventually file for Chapter 11 bankruptcy to escape enormous legal obligations they cannot meet.

These companies create asbestos trust funds as part of the bankruptcy process to ensure that victims of asbestos exposure and their families can receive compensation.

Generally speaking, the average payout from a single trust ranges from around $10,000 to over $150,000, but the severity of the illness, the number of companies involved, and the victim’s work history can all significantly affect the claim’s total value.

See if you qualify for compensation today.

Claim Payouts by Disease Type

The patient’s diagnosis is one of the most critical factors affecting the value of an asbestos trust fund payout. In general, the more serious the disease, the larger the compensation. Victims diagnosed with mesothelioma typically receive the largest claim payouts.

Some diseases commonly covered by trusts include:

• Asbestosis
• Lung Cancer
• Mesothelioma
• Other cancer
• Pleural disease

Check the form below to see if you may qualify for compensation from asbestos trust funds.

Asbestos Claim Payouts for Mesothelioma

Due to the severity of the illness and the high cost of treatment, claimants diagnosed with mesothelioma usually receive the highest amount of compensation from trusts.

For mesothelioma specifically, the average compensation for a claim against a single trust can range up to $150,000.

The amount of compensation a mesothelioma claimant receives can vary based on whether they choose to undergo an individual review — which assigns compensation based upon the unique facts of the claim — or an expedited review — which offers a set settlement amount called the scheduled value.

The table below shows the average compensation for an individual mesothelioma claim review once the payment percentage has been applied.

Company	Average Payout for Mesothelioma
North American Refractories Company (NARCO)	$155,000
DII Harbison Walker	$115,917
W.R. Grace	$71,325
Pittsburgh Corning	$49,000
United States Gypsum (USG)	$28,575
Johns-Manville	$28,050
General Motors	$26,840
Armstrong World Industries (AWI)	$17,617
Kaiser Aluminum	$16,120
Owens Corning (Fibreboard)	$15,930
Kentile Flooring	$12,687

Previous Claim Payouts for Mesothelioma 

When seeking lawsuit compensation, victims and their legal representation may choose between negotiating a settlement or taking the case to court in a wrongful death or personal injury trial.

Claimants should note mesothelioma lawsuit settlements are generally faster and less stressful, allowing victims to receive compensation more quickly and focus on their health.

Compensation from trial verdicts is usually larger, but lawsuits can drag on for years, especially if the defendants choose to appeal the initial ruling.

Previous settlements amounts include:

• $5.4 million awarded to a U.S. Navy veteran
• $4.4 million to a sugar mill mechanic
• $3.2 million to a construction worker

Previous verdict amounts include:

• $117 million for a mesothelioma victim from J&J and other defendants
• $75 million for a couple in Long Island from Texas manufacturers Dana Cos, LLC
• $32 million for a secondhand exposure claim against defendants Kraft Heinz and Metal Masters, Inc.

Asbestos Claim Payouts for Lung Cancer

After mesothelioma, claimants with asbestos lung cancer can expect the second-highest claim payout.

Previous claim and settlement values for lung cancer include:

• $28.5 million awarded to three asbestos lung cancer patients in New York
• $1.2 million settlement to a Merchant Marine with asbestos lung cancer
• $1 million settlement to a crane operator with asbestos lung cancer
• $1 million settlement to a millwright with asbestos lung cancer

Asbestos Claim Payouts for Other Asbestos-Related Diseases

Eligible victims with other asbestos diseases can also pursue compensation. The amount varies significantly depending on the severity of the illness.

For example, the W.R. Grace Asbestos Trust Fund offers the following average payout amounts for four illness categories in addition to mesothelioma and lung cancer:

• Other cancer: $20,000
• Severe asbestosis: $50,000
• Asbestosis/pleural disease:$2,500 to $7,500
• Other asbestos disease: $300

Combining Asbestos Trust Fund Claims 

When you see trust fund settlement values of more than $1 million, those claimants filed claims against multiple trusts. 

For example, from the 1930s to the 1980s, construction workers typically interacted with various asbestos products during their careers. A different company likely manufactured each of those asbestos products, meaning workers can file claims against each separate manufacturer.

Victims of asbestos exposure may also be eligible for other forms of compensation, including:

• Disability
• Lawsuits against non-bankrupt asbestos companies like 3M (Minnesota Mining and Manufacturing)
• Benefits from the U.S. Department of Veterans Affairs (VA)

Accessing one type of compensation generally does not exclude you from pursuing additional compensation options.

An experienced mesothelioma lawyer can help you determine all the trusts you can file claims against and explore other options, helping you maximize your potential compensation.   

Check the form below to see if you may qualify for compensation from asbestos trust funds.

Trust Fund Payment Percentages

Each asbestos trust fund applies a payment percentage to their claim values before they are paid out.

For example:

• North American Refractories Company (NARCO): NARCO currently has a payment percentage of 100% and a scheduled value of $75,000 for mesothelioma. In this example, a patient or family member could receive $75,000 from a NARCO asbestos trust fund claim.
• W.R. Grace: WRG currently has a payment percentage of 31.7% and a scheduled value of $180,000 for mesothelioma. Therefore, a mesothelioma patient or their family could receive $57,060 from a mesothelioma claim.

Trust fund percentages are enacted to ensure trusts have enough money to compensate all current and future claimants. Payment percentages are periodically reviewed and adjusted based on the trust’s financial conditions.

Claim recipients may receive additional money for prior claims if the payment percentage increases. However, if the payment percentage decreases, claim recipients will keep the money they have received.

Payment percentages vary based on the trust amount and the average number of people filing claims.

Timeline to Get Compensation From Asbestos Trust Funds

With the help of an experienced mesothelioma lawyer, some claimants start receiving compensation quickly, often in 90 days or less.

When claims are filed with incorrect or incomplete documentation, claimants must resubmit a corrected claim, which can cause significant delays.

Who Is Eligible to Receive Money From Asbestos Trust Funds?

Any person diagnosed with mesothelioma or another asbestos-related illness may be entitled to significant financial compensation.

Workers in a wide variety of industries were exposed to asbestos-containing products made by negligent corporations that chose profits over employee safety.

Family Members 

Family members of mesothelioma victims may also qualify for compensation. The death of an asbestos exposure victim does not absolve at-fault companies of their responsibilities. 

Family members can often file an asbestos claim after death against these trusts to help cover lingering medical expenses, burial costs, and lost income. 

It’s important to file your asbestos trust fund claim promptly to ensure that the statute of limitations doesn’t expire. The statute of limitations varies from state to state but typically falls within 2 to 4 years of the diagnosis or passing of the patient.

Secondary Exposure

In some cases, the family members of direct asbestos exposure victims can also develop asbestos-related illnesses. Asbestos fibers cling to hair, skin, and fabric. Many asbestos industry workers brought these fibers home unintentionally without realizing how dangerous they were.

For example, the wife of an asbestos miner would have been exposed to dangerous amounts of asbestos while laundering her husband’s work clothes.

If she later developed mesothelioma or another qualifying illness as a result of this exposure, then she could be eligible to file a secondary exposure claim against the company her husband worked for.

Factors That Impact Trust Fund Claim Payouts

Several factors can influence the amount of your asbestos claim payout, including:

• Your diagnosis
• The current payment percentage
• The company’s payment schedule
• Which products you were exposed to
• The length of exposure
• Your profession
• The severity of the asbestos-related diagnosis
• The number of companies you can make claims against

Filing an Asbestos Trust Fund Claim

The best thing future claimants can do for themselves at the beginning of their filing journey is to seek the assistance of an experienced asbestos attorney. A lawyer helps guide clients through the claims process and helps maximize their potential compensation. 

Claim filing requires claimants to meet strict guidelines and provide significant documentation. Any errors made in filing the claim can cause claim payment to be delayed or denied.

To successfully file a claim, victims must:

1. Meet Criteria & Eligibility: Claimants must meet the medical and exposure criteria laid out by the trust and file within the statute of limitations. 
2. Gather Evidence to Support the Claim: A lawyer can help claimants gather the necessary documentation to prove eligibility. Common forms of documentation include medical records, witness statements, military service records, and paystubs. 
3. Submit the Claim: Most trusts allow claims to be submitted via mail or online.
4. Claim Review & Settlement: The trust reviews the claim. If successful, the claim is paid. If the claim is denied, claimants may be able to resubmit if the deficiencies can be remedied.

If you or a loved one has been affected by asbestos exposure and are ready to explore your potential options for compensation, reach out to our team today.