Relative Value Scale

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What does Relative Value Scale mean? Read on to discover the definition & meaning of the term Relative Value Scale - to help you better understand the language used in insurance policies.

Relative Value Scale

Relative Value Scale

Method for determining benefits payable under a basic surgical expense policy. Points are assigned to each surgical procedure and a dollar per point amount, or conversion factor, is used to determine the benefit.

More Insurance Terms And Definitions

The Merriam-Webster Dictionary defines insurance as:

a: The business of insuring persons or property.

b: Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.

c: The sum for which something is insured.

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