Settlements involving mesothelioma occur when asbestos companies’ representatives agree to compensate victims exposed to their products. The average mesothelioma settlement is approximately $100,000.
What Is Mesothelioma Settlement?
In cases involving asbestos-related diseases, mesothelioma settlements are common. Those living with this disease can receive compensation by filing a personal injury suit. In contrast, family members who have lost a loved one to the disease may receive compensation by filing a wrongful death lawsuit.
An asbestos-containing product manufacturer agrees to pay a sum of money to individuals exposed to asbestos. Lawyers from both parties negotiate the amount to be paid.
Having a mesothelioma attorney on your side will give you the skills and resources to build a strong case that can lead to a settlement. In some cases, asbestos claim payouts can help patients cover all or most of their medical expenses related to mesothelioma.
Settlement Amounts for Mesothelioma
Mesothelioma settlement amounts depend on factors such as asbestos exposure, medical expenses, the type of diagnosis, and other factors.
At the time of filing the lawsuit, the victim’s legal team will request a specific amount based on the value of their case. The asbestos industry will often pay a victim enough compensation to cover all of his or her expenses and ensure a secure future for their loved ones.
What Is The Average Mesothelioma Settlement Amount?
The average mesothelioma settlement cost is around $1 million.
As a result of the lawsuit, all manufacturers listed will be liable to pay this amount. Depending on the specific circumstances of your case, the amount you receive may be greater or lesser than the average.
Important Mesothelioma Settlement Amounts
Asbestos litigation is an area of expertise for law firms. Many reputable firms around the globe have successfully compensated patients for mesothelioma cases.
Mesothelioma Settlement Benefits
Mesothelioma settlements have many benefits. Patients can also use the settlement amount to pay for their mesothelioma treatment.
Lawyers usually prefer settlements over long trials as a means of obtaining compensation for their clients.
Settlements for mesothelioma can provide benefits such as:
- Fast payouts: Mesothelioma patients may receive a settlement in under a year so they can cover medical bills and keep their families financially stable.
- It is effective: Treatment for mesothelioma can cost more than $400,000 in the first year. Most asbestos settlements cover medical costs, income loss, and emotional distress.
- Manufacturers are held accountable: Companies knew their asbestos products were harmful, but they staged industry-wide cover-ups to remain profitable. Through a settlement, they agree to pay for the harm they have caused through a settlement.
- There’s less risk involved: Judges and juries may not hold the manufacturer responsible if there is a trial. The victim may not receive money from the manufacturer if they lose the case.
What Amounts Are Settled In Mesothelioma Cases?
It is your attorney’s responsibility to prove to the court that the manufacturers are responsible for your illness. Several factors will be considered by your legal team when determining how much money to ask for in the settlement and negotiating the best deal for your case.
Settlements for mesothelioma may be influenced by the following factors:
- Plaintiff’s Age
Mesothelioma affects mainly elderly people, but sometimes young adults and teenagers are also affected. A young victim’s settlement amount may be higher because he or she will typically be unable to work, as opposed to a senior who may have retired and have a lower survival rate.
- Injury Level
Attorneys must demonstrate that asbestos exposure caused the client’s mesothelioma. Mesothelioma can develop anywhere from 20 to 50 years after exposure to asbestos, so if you were exposed recently but are not sick, you cannot sue.
- Financial Loss
Those who cannot work because of the disease may have difficulties supporting their families and paying basic living expenses.
- Participating Manufacturers
Mesothelioma lawsuits typically name numerous manufacturers since asbestos is present in many products. A victim has a better chance of receiving compensation if more manufacturers are named in the lawsuit.
- Health Care Costs
A patient may have to pay out-of-pocket for treatments to improve their mesothelioma life expectancy, so it is very important that the settlement covers the patient’s medical expenses.
- Emotional Suffering
The diagnosis of mesothelioma causes emotional stress to the entire family. Compensation may also be available for those suffering emotionally from mesothelioma.
Time Frame for Mesothelioma Settlements
Mesothelioma victims are typically compensated within a year of filing a lawsuit against asbestos.
Your asbestos attorney often determines how much your case will be paid by how quickly the defendant comes to an agreement. If you sue more than one manufacturer, you may receive money from one sooner than from another.
The mesothelioma settlement process is explained below:
- Collecting Evidence:
To build their legal cases, asbestos lawyers help mesothelioma victims. They gather evidence and information about the victim’s asbestos exposure. Various types of evidence may be presented, including work histories, medical history, asbestos products used, and so on.
- Case Filing
They will file a lawsuit and ask the court to pay the victim a certain amount of money. Those named in the lawsuit have 30 days to respond to the lawsuit.
- Providing Evidence
In the event that the manufacturer refuses to pay the victim, lawyers from both sides gather and present evidence to support their arguments, including witness testimony.
- Coming to a Settlement
It is likely that both sides will seek a mesothelioma lawsuit settlement. In the absence of an agreement between the lawyers, the case goes to trial.
A knowledgeable asbestos attorney can provide you with an accurate estimate of how long your specific case may take to settle without going to court. As well as assisting you with the process, your lawyer can ensure that your claim is filed within the statute of limitations in your state. A time limit applies to how long you have to file your claim under this law. However, you will lose your right to sue if you file after the deadline.
Evidence of asbestos exposure may help cases progress faster. A mesothelioma patient might be able to gather more evidence if they were exposed to asbestos at work for several decades.
How To Get Help Pursuing a Mesothelioma Settlement?
Paying for your treatment to improve your mesothelioma prognosis should be the last thing on your mind.
The mesothelioma settlement allows you to receive compensation for medical treatments at a crucial time in your life. Your expenses might be partially covered by settlements from a trusted mesothelioma law firm.
Due to the aggressive nature of mesothelioma, your lawyers will work hard to obtain the maximum amount of compensation as quickly as possible.
Conclusion
Settlements for mesothelioma cases typically range from $1 million to $1.4 million. A patient’s compensation amount is determined by several factors, such as age, cancer stage, type of cancer, medical expenses, lost income, and other factors.
Most mesothelioma settlements are paid within a year of the lawsuit filing. There are several factors that can affect the timeline, such as how fast the defendant agrees to settle, the number of manufacturers being sued, and the state you are suing in. The best way to determine how long your mesothelioma claim may take is to speak with an experienced mesothelioma attorney.