Mesothelioma compensation averages from $1 million to $2.4 million. Financial compensation for mesothelioma may come from asbestos trust funds, settlements or jury verdicts.
It typically takes less than one year to receive mesothelioma compensation from trust funds and settlements. It may take years to receive compensation from trial verdicts.
How Much Compensation Can You Get for Mesothelioma?
Mesothelioma compensation differs for each type of claim. According to a 2016 Mealey’s Litigation Report, the average mesothelioma trial payout is about $2.4 million. The average settlement ranges from $1 million to $1.4 million. If a mesothelioma claim goes to trial, a settlement could be reached or a jury could determine the amount of compensation, if the defendant is found guilty for the asbestos exposure.
If a loved one dies from mesothelioma, compensation may be available to family members, spouses or dependents through a wrongful death lawsuit filed on behalf of the estate.
If you or your loved one is not filing a legal claim, there may be other types of financial assistance available. We understand that filing a lawsuit feels overwhelming and stressful. There are other options for compensation, and it’s important to weigh all your options to decide what is best for your family.
How Long Will It Take to Get Compensation?
HOW LONG IT TAKES TO GET COMPENSATION DEPENDS UPON THE TYPE OF CLAIM YOU FILE:
- A verdict from a jury trial could take years, but defendants may offer to settle quickly, possibly within several months.
- Money from asbestos trusts can come within a few months.
Deciding whether to file a lawsuit is an important decision in any situation, especially if you are coping with the stress of a terminal illness. A mesothelioma lawyer can provide the most accurate estimate of how long it might take to get compensation for your unique case.
Types of Mesothelioma Compensation
Asbestos Trust Funds
Many companies that manufactured products with asbestos declared bankruptcy because of the large number of mesothelioma lawsuits filed against them.
This does not mean these companies have escaped liability. In bankruptcy protection, asbestos manufacturers are ordered to set up funds with enough money to compensate future asbestos victims. Most trust funds contain hundreds of millions of dollars, and some even contain billions.
If you develop mesothelioma as a result of exposure to an asbestos product made by a company that went bankrupt, your legal claim is processed through the bankrupt company’s trust fund rather than the court system.
Trust fund claims are processed quicker than mesothelioma lawsuits because they don’t have to be processed by the court system. Claimants typically receive compensation within a couple months.
A mesothelioma personal injury lawsuit is the best type of claim to file if your family needs compensation to pay for medical bills and other expenses. If a person dies of mesothelioma, their estate may be able to file a wrongful death lawsuit.
THERE ARE TWO TYPES OF MESOTHELIOMA LAWSUITS:
- Personal Injury Claims: These lawsuits are filed by people diagnosed with mesothelioma seeking compensation to cover medical bills, lost wages and other financial matters.
- Wrongful Death Claims: These lawsuits are usually filed by the estate of a deceased loved one who died of mesothelioma.
If the defendants do not settle and your case goes to trial, a jury will rule them liable or not liable. If the defendant is found liable, the trial verdict will include monetary compensation. Each mesothelioma case is unique, and there are no set guidelines for compensation.
If you win, the amount owed to you depends on the facts of your case and other factors such as medical costs and lost income.
According to a 2020 KCIC industry report, more than 4,000 mesothelioma lawsuits seeking compensation were filed in the U.S. in 2019.
A settlement happens when a defendant offers compensation to a mesothelioma plaintiff to drop the lawsuit.
Many mesothelioma lawsuits are settled out of court and never reach a jury trial. A qualified asbestos law firm will negotiate settlements on your behalf and advise you on whether to take the compensation or pursue a trial.
SEVERAL FACTORS AFFECT WHETHER YOUR MESOTHELIOMA LAWSUIT MAY REACH A SETTLEMENT:
- Some defendants decide settling a claim is cheaper than racking up more legal fees and risking a loss at trial.
- Other defendants are willing to risk a trial because they can opt to negotiate a settlement at any point, particularly if the case seems to be favoring you.
Eligibility and How to File for Asbestos Compensation
Anyone diagnosed with mesothelioma that was exposed to asbestos can file a claim for compensation. An experienced asbestos attorney can help gauge your eligibility and case value.
CONSIDER THE FOLLOWING STEPS TO GET MESOTHELIOMA COMPENSATION:
- Step 1: Find out what compensation you’re eligible for by speaking with an experienced mesothelioma lawyer who can help determine what’s best for you and your family
- Step 2: Work with your attorney to help them discover all about your asbestos exposure history
- Step 3: Consider all options for compensation that your attorney presents, which may include trust funds and lawsuits
- Step 4: If you decide to file a lawsuit, you may have to consider settlement offers from defendants
The most important step is finding an attorney with the right experience. You want to select an attorney who exclusively handles mesothelioma lawsuits. They will have the experience necessary to handle your case and maximize your compensation.
Remembering Your Exposure
No one is expected to remember everything about their work, health, life and exposure history. It’s simply too much information, and the time between exposure and diagnosis is too long.
This is one of the reasons why people file lawsuits instead of workers’ compensation claims. Too much time has passed to even legally file this kind of claim.
That’s why the single most important action you can take when considering an asbestos claim is to speak with a qualified mesothelioma attorney. They have resources to trace your exposure history that other attorneys do not have, and those resources can help your case significantly.
Resources Exclusive to Mesothelioma Lawyers
- Product Identification: Books featuring pictures of asbestos-containing products and their packaging help former asbestos workers identify the products they used. Knowledge of exposure to specific products or brands can significantly raise the value of your case.
- Employment Records: These are accessible through the federal government with your approval. These documents prove you worked where asbestos products were used.
- Eyewitnesses: Attorneys will also attempt to identify and locate co-workers, friends or other witnesses who can help confirm your exposure history.
- Expertise: Experienced attorneys can compare your case to others they have handled and see how it stacks up. Case histories can be a good indicator of what can be expected in your case.
Tracking Your Expenses
It is important to track all of the expenses related to your mesothelioma diagnosis and treatment. If you are unsure of what to track, think about how your illness has changed your daily lifestyle and your budget.
EXPENSES CAN INCLUDE:
- Travel: Transportation to and from medical providers can become costly. Even if your doctor is nearby, the cost of frequent trips quickly adds up. Because a select number of doctors specialize in mesothelioma treatment, many patients have to travel long distances to see an expert. As a result, you and your loved ones may need to pay for temporary housing near your medical provider.
- Hiring Home Health Aides: You may require help at home handling things such as cooking, cleaning, yard work, general maintenance and caring for yourself.
- Health Insurance Premiums: You will need to maintain your health insurance. If you are unable to return to work, you may lose your job, and the cost of your insurance premium may increase.
- Complementary Therapies: You may decide to take advantage of alternative therapies, such as massage therapy, to relieve your symptoms. Your health insurance may not cover these costs.