Mesothelioma compensation is a financial award paid to patients and family members affected by mesothelioma cancer. The average settlement is $1 million to $1.4 million. Asbestos trust funds can pay out more than $150,000.
How Much Compensation Can You Get for Mesothelioma?
The average mesothelioma trial payout is about $2.4 million. The average settlement ranges from $1 million to $2 million. Mesothelioma compensation differs for each case.
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 liable for the asbestos exposure. Most cases settle before trial.
If a loved one dies from mesothelioma, compensation may be available. Family members, spouses or dependents can file a wrongful death lawsuit.
Mesothelioma compensation helps cover medical expenses, lost wages, travel costs and other losses. It provides financial security for families when a loved one can no longer work.
There may also be other types of financial help available. It’s essential to weigh all your options to decide what is best for you and your family.
How Long Will It Take to Get Compensation?
Receiving compensation after a trial could take years, but defendants may choose to settle in months. The amount of time it takes to receive compensation also depends upon the type of claim you file.
Money from asbestos trusts may be received within a few months.
Deciding whether to file a lawsuit is essential 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 receive compensation for your unique case.
Types of Mesothelioma Compensation
Types of mesothelioma compensation include asbestos trust funds, trial verdicts and settlements.
Legal claims directed to asbestos trust funds outnumber lawsuits. This is because many asbestos companies have gone bankrupt. It does not mean those companies have escaped liability.
In bankruptcy cases, many asbestos companies set up trust funds. These trust funds have enough money to compensate future asbestos victims. They contain hundreds of millions to billions of dollars.
A top mesothelioma lawyer may suggest filing a trust fund claim and a lawsuit. This depends on which asbestos products are most relevant to your case.
Asbestos Trust Funds
Some people develop mesothelioma after exposure to an asbestos product made by a company that went bankrupt. In this case, your legal claim may go through the bankrupt company’s trust fund rather than the court system.
Trust fund claims generally process quicker than mesothelioma lawsuits. They don’t have to be handled by the court system. Claimants typically receive compensation within a couple of months.
A mesothelioma personal injury lawsuit is often the best type of claim to file. The compensation can pay for medical bills, lost wages and other expenses. A mesothelioma attorney can walk you through the process and handle every legal detail while you focus on treatment and recovery.
Another option is filing a wrongful death claim when a person dies of mesothelioma. Surviving family members often represent the estate when filing this type of claim.
There are two types of mesothelioma lawsuits:
- Personal Injury Claims: People with mesothelioma file these lawsuits for compensation. The reward can cover medical bills, lost wages and other expenses.
- Wrongful Death Claims: The estate of a deceased loved one may file this type of claim.
If the defendants don’t settle and your case goes to trial, a court or jury will decide your case. The trial verdict will include monetary compensation if the defendant is found liable.
If you win, the amount you are awarded depends on your case’s facts and other factors, such as medical costs and lost income. Each mesothelioma case is unique, and there are no set guidelines for compensation.
According to a 2021 leading industry report, more than 3,600 mesothelioma lawsuits seeking compensation were filed in the U.S. in 2020.