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Whether you’re a senior executive or just starting a new job, injury in the workplace is not uncommon. A severe illness or work-related injury can result in a worker missing work for a very long period with no income. This makes it extremely difficult for victims who sustain work-related injuries to support themselves and their families as bills pile up and expenses go unpaid.
For victims to live comfortably, many pursue workers’ compensation for their work-related injuries. Workers’ compensation supplements a victim’s lost wages and medical benefits. When an employee and their employer cannot reach a mutually agreeable solution, an injured employee may file a workers’ compensation lawsuit. As with any lawsuit, the process is time-consuming, often expensive, and outcomes vary.
The Legal Funding Group provides workers’ compensation lawsuit loans to individuals who are currently resolving their case. Injured employees can receive pre-settlement funding to help pay bills while awaiting settlement money or post-settlement funds to get an advance on the settlement they expect to receive in the future. Our workers’ compensation legal funding will help you stay financially secure while your case is resolved and your settlement is pending.
Workers’ Compensation Explained
When an employee is injured at work, a workers’ compensation program provides a means for the victim to get some level of finances during the recovery period. Such funds may help with medical costs, rehabilitation expenses, and regular household bills that do not stop because of an injury. The money sent to the injured worker is provided through compulsory payments made by the employer to a fund for this purpose.
While it is often beneficial for the accident victim to have at least some finances flowing into the household, certain trade-offs are involved. For example, a cap is usually in place to limit these payments. This cap restricts the amount of money an injured worker can get and the period of time that payments may be received.
Workers’ compensation is not the same as unemployment payments or disability insurance. Disability payments and unemployment benefits go to the employee regardless of where the injuries occurred. However, workers’ comp payments are only paid if the injury (or death) happened in the workplace or at a location where work-related duties were being performed. Conversely, personal health insurance covers injuries that do not occur in the workplace.
Examples of High-Risk Jobs
Data compiled by the Occupational Safety and Health Administration (OSHA) and the Bureau of Labor Statistics (BLS) shows that certain professions and industries present more danger for workers than other jobs. Occupations requiring their workers to perform a high degree of manual labor seem to have more employees suffering on-the-job injuries or succumbing to workplace-related fatalities. Some of these high-risk occupations include (but are not limited to):
- Roofers
- Logging workers
- Vehicle mechanics
- Commercial fishermen
- Flight engineers and aircraft pilots
- Truck drivers
- Reuse and recycle collectors
- Steel and structural ironworkers
- Ground maintenance workers
- Extraction and construction trade first-line supervisors
- Ranchers, farmers and other agricultural managers
Common Workplace Injuries
In 2018, approximately 2.8 million nonfatal workplace injuries and illnesses were reported to have occurred. The figures come from the Bureau of Labor Statistics (BLS). The BLS also reports there has been a small decline in such injuries over the past decade. However, this slight improvement still leaves a substantial number of work-related accidents and injuries taking place. Sadly, many workplace injuries are life-altering for accident victims and their families.
Some of the most common workplace-related injuries include (but are not limited to):
- Neck and back injuries
- Tears, strains, and sprains
- Electrocution
- Tendonitis and carpal tunnel syndrome
- Falls from varying heights
- Strokes and heart attacks
- Construction site accidents
- Occupational diseases/illnesses
- Burns (chemical and thermal)
- Broken bones and fractures
Several factors can contribute to the injuries mentioned above. For example, an employee can suffer a tragic accident and injury from mechanical failure of equipment, lax safety rules, a company’s lack of adherence to regulations, negligent management, or careless coworkers. Employees must maintain alertness and be well trained to minimize the potential for being involved in a work-related accident.
Other Financial Options For Injured Workers
Without question, workers’ compensation does help provide much-needed financial assistance and medical care for workers who have been injured. However, it is not the only available option for injured workers. It may be very beneficial for an injured employee to consult with an experienced attorney concerning a civil injury lawsuit. The varying situations and circumstances surrounding a workplace accident can influence the potential for a case, but an injury victim may have a legitimate claim against the following parties:
- A negligent property owner (in the case of premises liability)
- A construction site’s general contractor, plus the property owner
- A third-party contractor or supervisor
- An additional negligent third party
- A defective product’s manufacturer (in the case of product liability)
When claims are brought against third parties, it is frequently due to construction site accidents. The victim will hold the property owner and general contractor accountable for the injury. Additionally, when property owners create, cause, or do not adequately take care of potentially hazardous conditions on their property that were known or should have been, a premises liability lawsuit may be filed.
Civil lawsuits allow injured workers and their loved ones to receive compensation for damages in a much broader scope than would ever be possible with workers’ compensation. The lawsuit allows victims to request compensation for lost wages, medical costs, and pain and suffering. An injured worker can also seek damages for the non-economic pain and suffering that occurred. However, plaintiffs filing these lawsuits often do not receive financial compensation when they need it most, as the legal process may take months or even years before any type of money is paid.
Financial Assistance Through Workers’ Compensation Legal Funding
For plaintiffs who are waiting for their lawsuit settlement to pay, The Legal Funding Group can help provide a worker’s compensation lawsuit loan to make it possible to pay overdue household expenses, medical debts, and more.
The application process is simple, and no credit check or any review of past financial history is necessary. After the legal case is successfully won, the workers’ compensation lawsuit loan will be repaid from the lawsuit proceeds. If the case does not end in the plaintiff’s favor, no money whatsoever is owed to us.
How the Workers’ Compensation Legal Funding Process Works
The Legal Funding Group has streamlined a seamless, hassle-free, and paperless approval process for workers’ compensation pre-settlement funding. Here are the basic steps:
1. Introduction
Make a quick call, or apply online. We only need to know your case’s basic facts and your lawyer’s contact information.
2. Review
We talk with your attorney about the case with your permission. Our underwriters will obtain specific information. In common personal injury cases with lower dollar values, the data collected is simple and very concise.
3. Lawsuit Loan Delivery
Upon approval, we will send a cash advance in as little as 24 hours. The funds can be sent by direct deposit to a bank account, overnight check, or other methods.
Apply for Workers’ Compensation Legal Funding Today
If you have suffered an injury at work and filed a workplace injury lawsuit, you are most likely waiting for a settlement to be reached or processed.