If you suffer from a spinal cord injury, you must think about the long-term impact when calculating the financial damages. You may have been injured due to someone else’s negligence, such as if you suffered a spinal cord injury in a car accident that they caused. You know that you deserve compensation for the costs that you’re facing, but you don’t want to overlook anything.
For example, if you suffer an injury that leaves you paraplegic, it’s estimated that it will cost $518,000 in the first year. But that’s only the beginning when you’re calculating the costs and seeking financial compensation. You also have to consider that you will face almost $70,000 in subsequent costs for every year that you live with the injury.
How long will that injury last?
Exactly how long you will live with the injury or disability depends on numerous factors, but your age when you get injured can certainly impact the compensation that you’ll need. If you’re 50 years old when you become paraplegic, for instance, estimated lifetime costs are a bit over $1.5 million. But you may need an additional $1 million if you get injured when you are still in your 20s. The longer your condition lasts, the greater the impact on medical bills, lost earnings and much more.
Your career may also play a role. If you were previously earning $200,000 per year and you will never be able to return to work, you’re losing an additional $1 million every five years.
Seeking compensation
If you have suffered a serious injury, please call our law firm today to speak to an experienced attorney. You can set up a consultation simply by dialing 814-833-2222.
