Can You Recover Compensation for Future Earnings After a Personal Injury?

After a personal injury in Indiana, you can pursue legal action to recover different types of damages, including economic and non-economic. While lost wages cover income missed during the immediate recovery period, loss of future earnings refers to the long-term economic consequences of an injury, which can affect your earning potential for years or even a lifetime.

Calculating damages is a crucial part of any personal injury lawsuit, but estimating the potential financial impact when severe injuries disrupt your career is certainly complicated. However, working with an experienced lawyer will give you the best chance of recovering a compensation amount that acknowledges your injuries’ long-term impact.

What is “Loss of Future Earnings”?

Loss of future earnings refers to the estimated income a person would’ve earned if not for the injury. It’s not just about what you’ve already lost, but what your earning capacity could’ve been if the at-fault party hadn’t acted negligently.

While lost wages compensate for income missed during initial recovery, loss of future earnings addresses the long-term impact, considering how the injury will impact your ability to work, earn money in the future, and potentially affect your entire career path. 

For example, this could include having to switch to a lower-paying job or reduce work hours because of physical or cognitive limitations. To determine the financial toll and calculate what you’re owed, lawyers account for diverse factors, such as the severity of the injury, potential career path, and life expectancy.

If you’re unsure when to consult a lawyer for an accident, the answer is as soon as possible. Seeking early legal advice will streamline the evidence-gathering process and help secure expert witnesses to build a compelling case within the deadline imposed by Indiana’s statute of limitations.

How Are Loss of Future Earnings Calculated?

Calculating potential future earnings loss usually involves the help of professional witnesses. For example, vocational experts can evaluate how the injury affects your work capabilities, while financial experts can analyze your earning potential before and after the incident. 

Professional witnesses consider elements like inflation and potential salary growth to provide a comprehensive financial assessment. Calculations also account for changes in the job market and projected wage growth in the sector.

Additionally, we need to assess more personal factors, such as your age, occupation, education, and skill level. Younger individuals, for example, may face greater financial losses over time compared to someone nearing retirement age. We also consider your career path and the likelihood of promotions or raises to calculate loss of future earnings.

Types of Injuries That Often Lead to Loss of Future Earnings

Usually, injuries that result in long-term earning losses are severe and require significant adjustments to a person’s career or daily life. Some common types of injuries eligible for compensation include:

• Traumatic brain injuries (TBIs): These injuries can impair cognitive abilities, reducing job performance and limiting career opportunities in fields that require high levels of mental sharpness.
• Spinal cord injuries: Damage to the spinal cord limits physical movement, making it impossible to return to physically demanding jobs and sometimes requiring a shift to less physically strenuous roles.
• Loss of limb or amputation: Losing a limb or requiring amputation drastically limits physical capabilities, making certain types of work impossible and necessitating workplace accommodations.

Proving Loss of Future Earnings in a Personal Injury Claim

To substantiate a claim for loss of future earnings, we need robust evidence. This evidence must clearly show the long-term impact of the injury and how it will affect your ability to earn income. 

We use various forms of evidence to support these claims, including:

• Medical records and prognosis: Comprehensive documentation from medical professionals outlining the injury’s long-term effects and how they hinder your ability to work.
• Employment history and earnings records: Past income and employment details that establish your career trajectory and support future loss estimates.
• Expert testimonies: Insights from vocational and economic experts who assess your pre- and post-injury earning potential.

Indiana’s comparative fault rule, as outlined in Indiana Code § 34-51-2, can impact the compensation you receive. If you share some fault for the accident, your compensation will be reduced proportionally. A lawyer can help you build a strong case that clearly proves fault and minimizes comparative fault considerations.

Factors That Affect the Value of Loss of Future Earnings Claims

Some factors that influence the final compensation amount for loss of future earnings include:

• Comparative fault in Indiana: The degree of fault assigned to you can significantly impact the amount you recover. We aim to demonstrate minimal personal responsibility for the accident to strengthen your claim and help maximize the compensation awarded.
• Potential career progression: The claim must account for missed opportunities, such as raises, promotions, or advancements you would likely have achieved if not for the injury.
• Physical and cognitive limitations: Injuries that force career changes or require a shift to lower-paying or part-time work can significantly affect earning potential. It’s critical to include these factors in the calculation.

As each case’s circumstances vary greatly, it’s not possible to say an average settlement you could get for your case. However, our team at Christie Farrell Lee & Bell offers free consultations to assess your case, compare it to case results we’ve achieved in the past, and give you an estimate of your claim’s potential value.

Can Non-Economic Damages Be Awarded Alongside Future Earnings?

Yes, in addition to loss of future earnings, you can also pursue non-economic damages. These address the broader impact of severe injuries beyond financial losses and include:

• Pain and suffering: This covers the emotional and physical anguish caused by the injury, such as chronic pain or emotional distress stemming from permanent disability.
• Loss of enjoyment of life: If the injury prevents you from engaging in activities you once loved or negatively impacts your relationships, you can claim compensation for loss of enjoyment of life.

Calculating non-economic damages is complex, but they can certainly provide a more comprehensive compensation package.

Get Expert Legal Support to Pursue Compensation for Loss of Future Earnings

At Christie Farrell Lee & Bell, our personal injury lawyers in Indiana can make all the difference in your case’s outcome. With over 40 years of experience, our attorneys have the necessary knowledge, resources, and expertise to manage even the most complex cases.

Contact us today for a free consultation and learn how we can help you pursue full and fair compensation.