How To Fix FVD_INSURANCE071 - Insurance policy &1; payment method &2 does not exist

SAP Error Message - Details

• Message type: E = Error

• Message class: FVD_INSURANCE - Messages for Insurance (Package FVVD_INSURANCE)

• Message number: 071

• Message text: Insurance policy &1; payment method &2 does not exist

Self-Explanatory Message

Since SAP believes that this specific error message is 'self-explanatory,' no more information has been given.The majority of messages in the SAP system have a message text, however this is frequently insufficient to comprehend or resolve the problem.

To make things easier, more detailed information is frequently added to describe the issue, how to fix it, and the necessary steps or configuration modifications.

Unfortunately, there isn't any extra information in this error notice.

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Smart SAP Assistant

• What is the cause and solution for SAP error message FVD_INSURANCE071 - Insurance policy &1; payment method &2 does not exist ?

  The SAP error message FVD_INSURANCE071 indicates that there is an issue with the payment method associated with a specific insurance policy. The message states that the payment method for the given policy does not exist in the system. Here’s a breakdown of the cause, potential solutions, and related information:
  Cause:
  
  Missing Payment Method: The payment method specified for the insurance policy is not defined in the system.
  Incorrect Configuration: The payment method may not be properly configured or activated in the relevant settings.
  Data Entry Error: There could be a typographical error in the payment method or policy number entered in the transaction.
  Policy Status: The insurance policy may be in a status that does not allow for the specified payment method.
  
  Solution:
  
  
  Check Payment Method Configuration:
  
  Navigate to the configuration settings for payment methods in the SAP system (usually found in the customizing settings under Financial Services).
  Ensure that the payment method specified in the error message is defined and active.
  
  
  
  Verify Policy Details:
  
  Check the insurance policy details to confirm that the payment method is correctly assigned.
  Ensure that the policy number is entered correctly without any typographical errors.
  
  
  
  Update Payment Method:
  
  If the payment method does not exist, you may need to create a new payment method or assign an existing one that is valid for the policy.
  This can typically be done through the transaction codes related to insurance policy management.
  
  
  
  Consult Documentation:
  
  Review the SAP documentation or help files related to insurance and payment methods for any specific requirements or configurations that may be necessary.
  
  
  
  Contact Support:
  
  If the issue persists after checking the above points, consider reaching out to your SAP support team or consulting with an SAP expert for further assistance.
  
  
  
  Related Information:
  
  Transaction Codes: Familiarize yourself with relevant transaction codes such as FSP0, FSP1, or FSP2 for managing insurance policies and payment methods.
  SAP Notes: Check for any SAP Notes related to this error message for patches or updates that may address the issue.
  User Roles and Authorizations: Ensure that the user has the necessary roles and authorizations to access and modify payment methods and insurance policies.
  
  By following these steps, you should be able to identify and resolve the issue related to the error message FVD_INSURANCE071.