It may not be in your best interests to accept a lump sum settlement offer. Generally, insurance companies will only make a lump sum settlement offer in an attempt to reduce their financial obligations. A lump sum settlement releases the employer and insurance company from making any further payments for medical expenses or time lost if your injuries require more treatment in the future. It also waives the ability to make a claim for a worsening of your condition. This means your claim may be worth substantially more than the lump sum amount the insurance company is offering.
You do not want to risk worsening injuries as time goes on and not have access to the benefits you need to cover your costs. Make sure you review any insurance settlement offers with an attorney before you accept it to protect yourself from being taken advantage of.