In the case of a personal injury settlement, it typically takes two to six weeks to complete the process of settling the claim once both parties have agreed on an amount, according to FindLaw. This includes time to sign necessary paperwork, issue a check, and distribute the proceeds appropriately.
Before an insurer issues a settlement check, the claimant must sign a release stating that he is not going to pursue further legal action against the entity that caused the injury or its insurer, notes FindLaw. This document permanently settles the claim. After receiving it, the insurance company issues a check in the agreed-upon amount, which goes to the injured party's lawyer. The lawyer then pays any outstanding medical bills, reimburses the person's insurance company for any paid medical claims, and takes out his fees and expenses. The remainder of the settlement goes to the client in the form of a check.