who can put a price on the loss of a child

What is the name of your state?Illinois
my 16 yr old son was killed in an auto accident 10 months ago; he was a backseat passenger in a car driven by a 15 yr old that was not the owner of the vehicle-a different 16 yr old was the owner of the vehicle. the insurance companies of both the driver & the owner have contacted us several times and sent papers for us to sign off & settle. we have never filed a claim & don't intend to & we have not brought an attorney in on anything. We don't want to sue anyone, but we don't want to sign off/settle without having some knowledge of some kind. They want to settle for 100,000.00-the owners insurance has already paid all medical bills which were in excess of 80,000.00. They also want our older children to sign off-is that normal? thanks

I'm sorry for your loss, nothing can replace your child nor can a price be put on thier loss.
I know it is difficult to deal with this at this time and best to speak to a local attorney who can take everything into consideration and advise you or aid in the negotiations.