If you or a loved one has been diagnosed with mesothelioma cancer, you may be entitled to significant financial compensation. Patients undergoing treatment for mesothelioma often use the proceeds from asbestos cancer settlements to cover the cost of treatment.
Settlements offer peace of mind and allow patients to focus on treatment. Under the law, some companies that have caused asbestos-related injuries must provide financial allowances to injured workers and their families. Through a mesothelioma settlement, patients and their families can get compensation without having to go to trial. Trials can be difficult and long and financial compensation is not guaranteed or quick.
Settlement amounts vary depending on a number of factors. Often, at-fault companies settle lawsuits quickly to stop legal proceedings. In trust fund settlements, the trustees have the responsibility to determine the settlement amount for each case. A settlement means fast access to easily accessible funds.
Case Value Factors
Every mesothelioma case is different, therefore the settlement amounts are based on the unique factors for each individual case.
- Location, Age, Gender and Work History – This includes the amount of time spent in a job with contact with asbestos.
- Pain and Suffering – This includes emotional and psychological injuries such as grief, insomnia and the loss of life enjoyment.
- Exposure – Exposure rates can vary from everyday to second-hand.
- Products – From manufacturing equipment to hairdryers, asbestos has been found in a variety of locations.
Average Settlement Amounts
Settlement amounts vary by case and are typically not public information. In 2000, the Rand Institute for Civil Justice, a nonprofit research organization, found the average settlement amount is $900,000. Some seven years later, other research found the average settlement amount is actually between $1 million and $1.4 million.
Anyone who has developed mesothelioma from asbestos exposure is eligible for compensation because exposure is a result of corporate misconduct. Companies that used asbestos had longstanding knowledge of the health risks but opted to ignore them. Family members who have lost a loved ones or suffered secondhand asbestos exposure are also eligible for compensation. Whether you are a mesothelioma patient or a family member, it is important to pursue a settlement quickly.
Have your questions answered by a patient advocate now.
Wrongful Death Settlements
Family members of mesothelioma victims may also be entitled to compensation, even if the patient has died. A wrongful death claim can help alleviate the financial burdens that come after the treatment has ended, including remaining medical bills, funeral expense and compensation for loss of wages.
It is important to act quickly when deciding to file a wrongful death claim. Most states have statutes of limitations that severely limit the amount of time a family can file a legal claim over a wrongful death. If the statute of limitations expires you will no longer have a right to file a claim.
- American Bar Association. Bankruptcy Trusts and Asbestos Litigation. Retrieved from http://apps.americanbar.org/litigation/committees/products/articles/spring2012-bankruptcy-trusts-asbestos-litigation.html
- Rand Institute for Civil Justice. Asbestos Bankruptcy Trusts. Retrieved from http://www.rand.org/content/dam/rand/pubs/technical_reports/2010/RAND_TR872.pdf