Families of all kinds, no matter how wealthy, can experience significant problems in the event of a serious injury. It can be a life-changing event which is hugely expensive and could impact a whole array of different areas of your family.
A severe injury in your household is not something you can plan for, either – it’s just one of those unfortunate things that can happen to anyone at any given moment.
With this in mind, I have pulled together some of the biggest impacts experienced by families when a severe injury or accident affects their lives. You might not ever need it – hopefully – but foreknowledge can help you all pull through what will be an incredibly difficult time.
Physical impacts
First of all, the most visible result of a severe injury on anyone in your household is that it could lead to all kinds of physical issues. Anything from severe scarring to amputation or paralysis is possible, and the impacts can be enormous for families. When a member of your household suffers from mobility issues, it can change everything, from their ability to work to your need to live in a specially adapted house. And in many cases, lifestyle choices that you took without thought beforehand will become impossible.
Immediate financial issues
Serious injuries are expensive in more ways than one. The primary earner of your household may not be able to work anymore, and there could be enormous medical bills to face. To fight for compensation, you will need the services of a lawyer, too, and with serious injuries, you might have to pay for home alterations. Payment will come, hopefully, but make no mistake about it, a severe injury will change your finances in many different ways in the long-term – and maybe even permanently.
Ongoing financial issues
According to this UBS Financial Services Inc. structured settlement review, it’s worth pointing out that not all compensation payments will end up in your pocket. What happens if the company you are suing goes bust, for example? You might benefit from using the structured settlement as although you will receive less money, at least your future payments will be guaranteed by the insurer.
Psychological impact
Being fit, healthy and contributing to your household one minute and then being reliant on others the next can have a dramatic impact. The psychological distress is often one of the hardest parts to deal with – and not just for the injured party, for everyone else in the family, too. Counseling is often advised by doctors to address the trauma and mental scars of getting injured, but also for support for the rest of the household. Even when the physical scars clear up and heal over, the impact on the mind can be devastating.
Relationship troubles
Finally, of course, all these issues can put an enormous amount of pressure on relationships within the household – and beyond. It is not uncommon for marriages to start breaking down, and you will also find out who your real friends are when something dramatic like this happens. That said, with the right approach – and perhaps a little marriage or relationship counseling – you will hopefully be able to work through your problems and come out of the other side.