How To Fix /MVA/AMP_PM_MSG690 - Payment frequency changed to single premium due to short-term tariff.

SAP Error Message - Details

• Message type: E = Error

• Message class: /MVA/AMP_PM_MSG -

• Message number: 690

• Message text: Payment frequency changed to single premium due to short-term tariff.

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 /MVA/AMP_PM_MSG690 - Payment frequency changed to single premium due to short-term tariff. ?

  The SAP error message /MVA/AMP_PM_MSG690 indicates that the payment frequency for a specific insurance product or contract has been changed to a single premium due to a short-term tariff. This typically occurs in the context of insurance or financial services modules within SAP, particularly in the area of contract management or policy administration.
  Cause:
  
  Short-Term Tariff: The error is triggered when the system detects that the tariff applied to the contract is classified as short-term. This classification may be due to the nature of the product, the duration of the contract, or specific business rules set within the system.
  Configuration Settings: The configuration settings in the SAP system may dictate that for certain types of contracts or under specific conditions, the payment frequency must default to a single premium.
  Data Entry Issues: There may be incorrect or incomplete data entered during the contract creation or modification process, leading the system to enforce this rule.
  
  Solution:
  
  Review Contract Details: Check the details of the contract or policy in question. Ensure that all relevant fields are filled out correctly and that the contract meets the necessary criteria for the desired payment frequency.
  Check Tariff Settings: Review the tariff settings in the system to understand why it is classified as short-term. If the classification is incorrect, you may need to adjust the tariff settings or consult with the relevant business unit to correct it.
  Consult Configuration: If you have access to the configuration settings, review the rules that govern payment frequencies for different types of contracts. Adjustments may be needed to allow for different payment frequencies under certain conditions.
  Contact Support: If the issue persists and you are unable to resolve it through the above steps, consider reaching out to your SAP support team or a consultant who specializes in the SAP insurance module for further assistance.
  
  Related Information:
  
  Documentation: Refer to the SAP documentation specific to the insurance module you are using. This may provide insights into how payment frequencies are managed and the implications of tariff classifications.
  User Forums: Engage with SAP user communities or forums where similar issues may have been discussed. Other users may have encountered the same error and can provide insights or solutions.
  Training: If this is a recurring issue, consider training for users involved in contract management to ensure they understand the implications of tariff classifications and payment frequency settings.
  
  By following these steps, you should be able to identify the cause of the error and implement a solution to address it.