If you don't want your life to be "endangered" then don't ride motorcycles. The insurance company and the other driver don't owe you for that. You also can't be paid because you "could have died".
They owe you for your actual damages and will give you a little something for pain and suffering. If your only medical bill is a check with your family dr, a prescription or 2 and a few days of soreness - then $500 plus your meds is a good settlement. A visit with your family doc is about $100-$125. Prescriptions usually less than $50. So, $500 for pain and suffering for $175 in bills is not an insult at all. Who ever told you that is an idiot.
There is nothing wrong with telling the company that you want to see how you feel in another 2 weeks. That way, you can take a couple of weeks and see how you feel then. If you're feeling better then go ahead and settle. If you're still having to see the dr, ask them to follow back up with you in another 30 days.
If you are still treating, the insurance company will just continue to follow up with you every 30-60 days - to see how you are feeling and whats going on with your treatment. When you're ready to settle do so.
If your bills are more than a check out then the insurance company will have to have you sign a medical authorization. That form will allow the insurance company to order copies of your medical bills/records. When you are done treating the company orders the bills/records. Once it comes in, they evaluate the information and make an offer. You can accept the offer or counter offer. It's a negotiation. Once you reach an agreement - the company has you sign a release that ends your claim once and for all. In exchange you get the agreed upon amount.
Just call the adjuster and have a conversation with them about the situation and any concerns you have.