WHAT IS A RELEASE?
Before you’re going to receive compensation for the damages and injuries you’ve received from a car accident claim, the insurance company is going to insist that you sign a release. A release is just a contract. It’s a written document. It sets forth in a lot of words, usually two or three pages, but the point of that is that by signing that document, you’re saying that you’ve obtained all of the compensation that you’re required to receive.
You’re saying, "I’ve received my compensation, and I’m not entitled to any future compensation" even if you have future medical injuries or future medical damages that you weren’t aware of, and that no matter what contingent might be out there. That is going to be binding and is going to prevent you from receiving any future compensation.