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How to File Mesothelioma Compensation | Amounts And Types
Average mesothelioma payouts vary depending on the type of compensation pursued and several other factors. Annual reports by Mealey’s Asbestos Litigation state average mesothelioma compensation amounts, including:
- Average mesothelioma lawsuit verdicts are about $2.4 million.
- Average mesothelioma settlement payouts vary from $1 – $1.4 million.
- Trust fund payouts vary greatly. High paying trusts may award $125,000 or more. Individuals may seek compensation from more than one trust.
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.
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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.
Learn About Your Legal Rights in Your Mesothelioma Guide
Also learn how to choose an attorney and how to qualify for compensation. Your free guide will be shipped overnight.
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.