One popular misconception, in dealing with wrongful death lawsuits, is that if the decedent had life insurance that it, in some way, negates their survivors’ rights to recover damages. Strangely enough, another popular misconception is that it has absolutely no bearing on a case whatsoever. Both of these beliefs are patently wrong.
In a wrongful death lawsuit, the fact that the deceased had life insurance can have a great effect on the final settlement, but not in the ways that most people believe. In fact, the common beliefs, held by the majority of people, are completely contrary to the truth.
Life Insurance Doesn’t Reduce Liability
In a wrongful death suit the jury should in no way consider the fact that the decedent’s survivors will be receiving a life insurance settlement sway their judgment as to whether the defendant is liable for the deceased’s death or to the amount that the due to his loved ones.
The fact that the deceased had life insurance or the amount of life insurance that the deceased had is completely immaterial to judging the defendant’s actions. The case against the defendant is exactly that, a case against the defendant, not against the deceased or their survivors.
Life Insurance Should Increase a Settlement
It must be remembered that under Florida Tort Law life insurance is considered an investment vehicle and as such it; one increases, the net worth of the deceased and two, generates a return. Both of these factors have the effect of increasing what would have been the long term earning potential of the decedent and therefore the amount of settlement that their survivors should be due.
The reasoning behind this is that a person who took time to invest in life insurance, especially if it can be shown that they increased their insurance value as their earning potential increased, would have continued to do so throughout their lives and would have therefore left a larger nest egg for their families, if they had lived out their expected life span.
No amount of money can ever fill the void that unexpectedly losing a loved one leaves in our lives. No amount of compensation can replace a child, parent, brother, sister or justly balance the weight that trying to live without their love, companionship and support places on the shoulders of those that are left behind.
The inadequacy of the effort though, in no way should negate the responsibility of those who are at fault for the loss be seen as an excuse to penalize the decedents family. In truth, the fact that the deceased was farsighted and sought to provide a better future for their family through prudent and secure investment only exacerbates the family’s loss and adds to their burdens as they try to move forward without the deceased guidance.
The law recognizes these facts and a well trained and experienced personal injury attorney will use them to gain you the best possible settlement in your case. Nothing will ever replace the loss of suddenly losing a loved one. Protect your financial future, just as they tried to. Hire a Board Certified Personal Injury Attorney with experience handling your type of case to make sure your rights are protected and that you receive all of the compensation that you are entitled to.