If you have a pending workers’ compensation claim and need immediate financial assistance, pre-settlement funding can help.
Workers’ compensation, commonly referred to as “workers comp,” is a type of insurance employers have that compensates employees who are injured in a workplace accident or become ill as a result of the job. Most states have enacted workers’ compensation laws to ensure these benefits are provided regardless of who was at fault for an employee’s injury or illness. In exchange for the guarantee of these benefits, in many cases the employee loses the right to sue the employer in civil court.
In general, qualifications for workers’ compensation are:
Most states require an employee to notify their employer within 30-45 days of a work-related injury or illness. Benefits from workers’ compensation typically include payment of medical and hospital bills as well as recovery of lost income while an employee is disabled. Failure to notify may result in a denial of these benefits.
Workers’ compensation claims can be contested by employers and insurance companies looking to deny them, which often cause delays in paying benefits or reaching a settlement.
Financial strain in these situations can add to the stress as many struggle to make ends meet and keep up with bills without income. If you have a pending workers’ compensation claim and need immediate financial assistance, pre-settlement funding can help.