The compensation for mesothelioma varies for each type of claim. According to a 2016 Mealey Litigation Report, the average payment for a mesothelioma lawsuit is approximately $ 2.4 million. or a jury could determine the amount of compensation if the accused is found guilty of exposure to asbestos.
When a loved one dies of mesothelioma, family members, spouses, or loved ones may be granted compensation through an unlawful death lawsuit filed on behalf of the state.
If you or your loved ones are not legally entitled, other types of financial assistance may be available. We know that filing a lawsuit can be stressful for you. There are other compensation options, and it is important to weigh all of the options in order to decide what is best for your family.
How long does it take to get compensation?
The time it takes to receive compensation depends on the type of claim you are making:
- A court verdict can take years, but the defendants can offer to reach an agreement quickly, possibly within a few months.
- Money from asbestos trusts can come in in a matter of months.
Deciding whether to sue is an important decision in any situation, especially when dealing with the stress of an incurable disease. A mesothelioma attorney can make the most accurate estimate of how long it can take to get compensation for your particular case.
Types of mesothelioma compensation
Asbestos Trust Funds
Many companies that manufacture asbestos products have filed for bankruptcy due to the multitude of mesothelioma lawsuits filed against them.
which does not mean that these companies have escaped liability. In bankruptcy protection, asbestos manufacturers are instructed to set up funds with enough money to offset asbestos in the future. Most trust funds hold hundreds of millions of dollars and some even billions.
If you develop mesothelioma because of exposure to an asbestos product that was manufactured by a bankrupt company, your legal claim will be processed through the bankrupt company’s trust fund. instead of the judicial system.
Trust fund applications are processed faster than mesothelioma applications because they do not require legal processing. The plaintiffs usually receive compensation within a few months.