GM will pay $1 million to the families of those who died in accidents caused by a defective ignition switch in a GM vehicle. Added to that will be $300,000 for each surviving spouse and dependent, as well as a calculation of life time earnings lost.
GM will also pay those with life altering catastrophic injuries. For example, a child who became paraplegic in an accident caused by a defective ignition switch in a GM vehicle would receive payments based on a lifetime medical care plan, lost earnings and other factors.
GM will also compensate those with less severe injuries who received treatment at a hospital or outpatient clinic facility within 48 hours of the accident. GM will pay $20,000 to those who spent one night in the hospital, $70,000 to those who spent two to seven nights in the hospital, $170,000 to those who spent 8 to 15 nights in the hospital, and $500,000 for those who spent 32 or more nights in the hospital. People treated on an outpatient basis could receive a maximum of $20,000.
Claims may be filed between August 1 and December 31, 2014. GM will not assert its protection from liability for incidents occurring before July 10, 2009 because of its bankruptcy restructuring.
To be eligible, the accident must involve one of the vehicles GM recalled due to a defective ignition switch. A list of those vehicles can be found atwww.gmignitioncompensation.com. There must also be evidence the air bag did not deploy. If the airbags deployed or seat belts locked, the power was on and the ignition switch was not responsible, according to GM.