What Is Mesothelioma Compensation?
Mesothelioma compensation is any amount of money paid out to those diagnosed with this rare and deadly form of cancer. Victims typically receive mesothelioma financial compensation by taking legal action against major manufacturers of asbestos-containing products.
Manufacturers are obligated to compensate mesothelioma victims since they knew that asbestos could cause life-threatening illnesses for decades but hid the facts to keep making money.
Between 2004 and 2016, manufacturers of asbestos products paid out $15 Billion to victims through trust funds alone, according to a 2018 report from the U.S. Chamber Institute for Legal Reform.
Victims may access mesothelioma compensation through:
- Asbestos trust funds: Some manufacturers could not keep up with the number of mesothelioma lawsuits they faced, so they declared bankruptcy to stop more lawsuits from being filed. In exchange, the companies were forced to set aside money to pay current and future victims.
- Mesothelioma lawsuits: If a manufacturer did not establish an asbestos trust fund — and is still in business — it may be possible to file a lawsuit against them. Some mesothelioma lawsuits have awarded millions of dollars in compensation.
- VA Benefits: Since asbestos was widely used in military vehicles and bases from the 1930s to the early 1980s, veterans who develop mesothelioma may be entitled to compensation through the U.S. Department of Veterans Affairs (VA).
- Other health care options: Private health care options and government-sponsored programs such as Social Security may award mesothelioma compensation to those who qualify.
No matter the option, anyone looking to access mesothelioma financial compensation should work with an experienced lawyer. With help from a mesothelioma lawyer, victims may receive enough compensation to cover their expenses in a relatively short amount of time.
Quick Facts About Mesothelioma Compensation
- Mesothelioma compensation amounts vary depending on what type of legal action is taken.
- The average mesothelioma compensation amount from a lawsuit is about $1 Million to $1.4 Million if it settles out of court, according to recent industry reports.
- Mesothelioma claims that go to trial may award anywhere from $50 Million to no money at all, depending on what the judge and jury decide.
- According to a report from the RAND Institute of Civil Justice, the average amount of mesothelioma compensation awarded by asbestos trust funds is $180,000.