Calculating Future Losses for Catastrophic Injury Claims

 Posted on November 16, 2023 in Catastrophic Injuries

In a catastrophic injury claim, not all losses occur by the time a settlement is reached or an insurance claim is approved. If you have suffered a personal injury, you may be entitled to compensation for future losses or damages.

Our Rockford catastrophic injury attorneys would like to discuss types of future losses and how an attorney would calculate potential compensation. 

Examples of Future Damages

While economic damages are those losses that directly take money away from you (i.e., lost wages or medical bills), non-economic damages are non-financial losses that affect your quality of life.

For jury verdicts in personal injury cases, Illinois law requires that economic damages be itemized into losses incurred as of the present and losses that will be incurred in the future. 

Examples of future damages may include:

Loss of future earnings

This is the specific amount of money that a person would have earned if the individual was able to continue working and had not been prevented from working due to the injury.

Loss of future earning capacity 

This is different from the loss of future earnings. Loss of future earning capacity measures the loss of the potential to earn a living. Loss of earning capacity does not require any proof of past earnings but rather measures the loss of future income due to an individual’s injury.

Future medical expenses 

When you suffer a catastrophic injury, you may require ongoing physical therapy, medical treatments, surgeries, and home modifications as you age and your condition worsens. 

Future pain and suffering 

A catastrophic injury can result in chronic pain, which may affect your quality of life. Those who suffer from chronic pain are known to have higher rates of depression. 

How are Future Damages Calculated?

Economic damages serve to give you financial comfort to care for your physical, mental, and emotional needs. 

Lost Income

Calculating lost income will likely make up a significant amount of damages in your catastrophic injury claim.

A loss of future earnings would calculate your earnings prior to your injury compared to your earnings after your catastrophic injury. The amount sought in damages would be the difference between the two earnings. 

In contrast, a loss of future earning capacity does not take into account prior earnings but rather your ability to work prior to your injury. Damages for loss of future earning capacity can be a significant sum that can be distributed over many years.

Medical Expenses

Medical treatment in a catastrophic injury claim can be expensive and may include emergency room care, surgeries, prescriptions, medical imaging, physical therapy, medical equipment, and home modifications. 

While it may be complicated to calculate the cost of future medical care, a Winnebago County catastrophic injury attorney will add up the cost of medical procedures that are indicative based on your injuries and diagnosis, while factoring in the cost of inflation to determine a total amount. 

Pain and Suffering

No less significant, it may be challenging to collect future “pain and suffering” damages. A common example of “pain and suffering” damage is loss of consortium. Loss of consortium compensates an injured party’s spouse for the loss of companionship and sexual relationship that was once shared.

If you have already suffered non-economic losses, then an experienced catastrophic injury attorney will take into account the mental and emotional strain that your accident has had on you and your family in determining future damages.

A Rockford, IL, Catastrophic Injury Attorney Dedicated to You

A catastrophic injury can take away the financial and emotional security you once enjoyed. If you have sustained a catastrophic injury, our Winnebago County, IL, catastrophic injury attorneys are here to assist you. Contact Mannarino & Brasfield, A Division of Schwartz Injury Law today to schedule your free, no-obligation consultation.