Definitions for "Allocated Benefits"
Payments authorized for specific purposes with a maximum specified for each. In hospital policies, for instance, there may be scheduled benefits for X-rays, drugs, dressings, and other specified expenses.
Maximum amount for specific services as itemized in an insurance contract.
A set amount of authorized payments with a specified maximum amount for each payment. For example, a hospital policy for an MRI would have a set amount of scheduled benefits.