When a case is rated for permanent disability and settled this is called?

When a case is rated for permanent disability and settled, it is typically referred to as a "permanent disability settlement" or "permanent disability award." This settlement compensates the injured party for the long-term impact of their disability, often taking into account factors such as loss of earning capacity and ongoing medical expenses. The settlement amount is usually determined based on the severity of the disability, applicable laws, and negotiations between the parties involved.