Asbestos Claims Payouts in 2024

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Asbestos claims payouts can award more than $1 million to mesothelioma patients and their families. Asbestos victims often get the first payouts from mesothelioma lawsuits within 90 days. Learn how an experienced mesothelioma lawyer can help you quickly negotiate asbestos claims payouts through legal settlements.

What Is the Average Time Frame for an Asbestos Payout?

Although each case is different, many asbestos claims and lawsuits start to award compensation in 90 days or less. Mesothelioma lawsuits typically take 12-18 months to fully resolve.

Most cases end in a settlement, which occurs when manufacturers of asbestos-containing products (the defendants in the lawsuit) agree to pay a mesothelioma victim (the plaintiff) a lump sum of compensation so the lawsuit doesn’t go to trial.

As of January 2024, the average asbestos claim payout from a settlement awards between $1 million and $1.4 million.

The following factors affect asbestos settlement time frames:

Asbestos victims can get the most compensation in the shortest amount of time by working with mesothelioma lawyers. These attorneys can file claims against manufacturers and negotiate settlements on behalf of victims and their families.

Further, lawyers can help victims access compensation from asbestos trust funds, which contain more than $30 billion in compensation and start to pay out within 90 days.

Our partner mesothelioma law firm Simmons Hanly Conroy can help you quickly access asbestos claims payouts if you qualify. Get a free consultation now to learn more.

How to File an Asbestos Claim

Many asbestos claims follow a similar timeline. However, every case is different, and a settlement can be reached at almost any point in the process once the lawsuit has been filed.

Learn more about the steps to file a legal claim below.

1. Free Case Review

Before filing a claim, you should get a free case review from a law firm that specializes in asbestos litigation so you can explore all your legal options.

During this consultation, a mesothelioma law firm will evaluate your case free of charge and determine if you can file an asbestos claim. If so, you can sign documents to work with the law firm. This first meeting typically takes 45 minutes to 1 hour.

These law firms understand the financial and mental burden of a mesothelioma diagnosis on you and your family members. They have the resources and expertise to secure asbestos settlements for you as quickly as possible.

Mesothelioma lawyers charge no upfront fees and will only be paid if they win your case, so there’s no risk to work with them.

2. Meet Your Mesothelioma Legal Team

You will meet your legal team within a few days after completing the initial paperwork.

Your legal team will consist of:

Team members will gather evidence such as your work history, medical records related to your diagnosis, and information about products that may have caused your asbestos-related illness.

With this information, the firm can determine which asbestos companies and manufacturers caused your illness.

3. Attorney Files Your Asbestos Claim

Your attorneys will file a mesothelioma lawsuit after compiling information about your illness, identifying key defendants, and writing a formal complaint.

The defendants in the lawsuit must respond within a certain number of days, or they could automatically lose. The number of days they have to respond varies with each case.

4. Both Sides Share Information (Discovery)

Both legal teams gather facts and documents to support their claims during the discovery process. This phase can last a few months since it may take time for both parties to find, organize, and share information.

Your legal team will spend this time collecting evidence that proves the asbestos companies’ products caused your mesothelioma. The team may also speak to current or former employees who know how the companies used asbestos in their products.

You or your loved ones may also need to give a deposition (a testimony of the events that took place). Your mesothelioma lawyer can help you prepare for a deposition.

5. Receive a Settlement or Go to Trial

Your mesothelioma attorney will typically try to negotiate settlements with the companies named in the lawsuit.

Most lawsuits are resolved with a mesothelioma settlement since they are less time-consuming and risky than a trial. If the court sides with the defendant in a trial, you will not win any compensation at all.

Settlements

Trials

Low risk to you

Higher risk to you

The lawyer does the legal heavy lifting

You may have to appear in court

No risk of appeal

Favorable verdict could be appealed (overturned)

Cases often resolve quickly

Cases take longer than if settled

Settlement time frames can vary with each defendant named in the lawsuit. Some defendants may settle your case in just a few weeks. Other companies may not agree to a settlement until a trial date approaches.

Experienced asbestos attorneys will make your case as strong as possible and fight for you in court in the unlikely event that a settlement can’t be reached.

6. Receive Asbestos Compensation

Once the case resolves through a settlement or trial verdict, you can sign off to receive your asbestos claims payouts.

According to Mealey’s® Litigation Report: Asbestos, the average asbestos payout amount from a mesothelioma settlement ranges from $1 million to $1.4 million, with some plaintiffs receiving even more.

Remember: The first asbestos claims payouts from a mesothelioma lawsuit can come in 90 days or less.

Your attorney will keep you updated through each stage of your lawsuit and work to get you financial compensation as quickly as possible.

Factors Affecting Time Frames for Asbestos Claims Payouts

Many factors unique to your case affect if and when you’ll receive asbestos claims payouts. Learn about these factors below.

Asbestos Company Timelines

Some asbestos companies may be motivated to reach settlements quickly, depending on the strength of your evidence and if they have faced other lawsuits in the past. This is why many asbestos compensation claims start to pay out within 90 days or less.

A few days after mesothelioma survivor John Stahl called in for a free consultation, an investigator from his legal team started collecting details about the asbestos-based construction products John worked with. John began getting his first settlement checks soon after his lawsuit was filed.

Our legal partners can help you pursue quick asbestos claims payouts too if you qualify. Start the process now with a free legal consultation.

Statute of Limitations

Statute of limitations are state laws that limit the amount of time you have to file an asbestos claim or a mesothelioma lawsuit.

Most states set their statute of limitations at 2-3 years from the date you are diagnosed with mesothelioma. However, statutes vary by state and certain case types, such as personal injury and wrongful death claims, often have different deadlines.

Contact a mesothelioma lawyer as soon as possible to ensure that your asbestos claim is filed in time. The earlier you take legal action, the sooner you may be able to receive asbestos claims payouts and provide financial assistance for your family.

If the statute of limitations in your case runs out, you still may be able to access mesothelioma compensation from asbestos bankruptcy trust funds (which set their own filing deadlines). Some trusts start paying out in as little as 90 days. See if you can access asbestos trust fund compensation now.

State Jurisdictions

Besides statutes of limitations, some states or court systems hear mesothelioma lawsuits much sooner than others.

A national mesothelioma law firm can help you file your case in the court system most likely to award you the most compensation in the shortest amount of time.

Trials

In rare cases when a settlement cannot be reached, the lawsuit must be resolved through a trial. In a trial, the court will evaluate the evidence presented by each side and deliver a mesothelioma verdict.

Depending on various factors, it can take several years for a case to reach a conclusion in a trial. This can greatly impact the time it takes to access asbestos claim payouts — and you may not win any compensation if the judge or jury rules in favor of the defendant.

Mesothelioma attorneys can help retrieve asbestos claim payouts for you through both trials and settlements.

Get Help With Asbestos Claim Payouts for Mesothelioma

The money from asbestos claims payouts can help you afford mesothelioma treatments and keep your family financially secure for years to come. It can also give you a sense of justice knowing that the manufacturers that harmed you have been held accountable.

Experienced mesothelioma lawyers help clients like you quickly secure asbestos claim payouts.

Get a free consultation now to pursue asbestos compensation claims with help from a top mesothelioma lawyer.

Asbestos Claims Payouts & Timelines FAQs

What is the average asbestos settlement amount?

The average asbestos settlement amount is between $1 million and $1.4 million, according to Mealey’s® Litigation Report: Asbestos.

With this average in mind, how much you’ll receive from asbestos claims payouts depends on factors like the number of defendants, the statute of limitations, and whether your case is resolved through a settlement or a trial.

How long does it take to get a mesothelioma settlement?

Asbestos settlements and trust fund claims often start paying out in 90 days or less. The entire asbestos claims process may take 12-18 months to complete in certain cases.

Your attorney can help you understand when you’ll start to get compensation from asbestos claims payouts.

How do I get compensation for asbestos?

You can work with an attorney to file a claim and get compensation if you have an asbestos-related disease like mesothelioma.

Asbestos claim payouts can come in the form of a check or wire transfer.You’ll likely receive multiple asbestos claims payouts, depending on the number of companies named in your lawsuit.

Additionally, you may qualify for compensation from an asbestos trust fund claim. Click here to see if you qualify for asbestos trust fund compensation.

How do you prove asbestos exposure?

Employment and medical records can help prove exposure in asbestos claims payouts. In addition, top mesothelioma attorneys can use information from past claims and databases to prove when, where, and how your asbestos exposure occurred.

How long do you have to make an asbestos claim?

The time limit for making an asbestos claim, known as the statute of limitations, varies based on the jurisdiction (location) where the lawsuit is filed.

The deadline to file an asbestos claim typically starts from the date of diagnosis or discovery of the illness. However, because statutes vary by state, it’s best to consult with an attorney who specializes in asbestos cases.

Additionally, mesothelioma trust funds set their own deadlines for filing a claim, so you could still qualify to get compensated even if the statute of limitations has already passed.

 

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