Fixed amount option

Settlement option in a life insurance policy wherein the insurance company uses policy proceeds plus interest to pay the beneficiary either annually or semiannually until the proceeds plus interest are all gone. Also called fixed payment option .

Flare-up

In workers’ compensation cases, this phrase is sometimes used to refer to a recurrence of an industrial injury or illness and refers specifically to the symptoms that are considered to be related to the natural course of the previous injury or illness and not to a new injury from current employment.

Flat amount formula

Mathematical method used to determine the retirement benefit for participants in a defined benefit pension plan (DBPP). This type of formula gives the same monthly or annual benefit amount to each retiree (e.g., $700 per month).