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
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:
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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