What is 'benefit type' in SAP FS-CM - Claims Management?

benefit type - Overview

• Component: FS-CM

• Component Name: Claims Management

• Description: Unique indicator that classifies a claim made or a benefit.

benefit type - Details

• 
  Key Concepts: 
  Benefit type is a feature of the FS-CM Claims Management component of SAP. It is used to define the type of benefit that a customer can receive from a claim. This could include a cash payment, a voucher, or any other type of benefit. 
  
  How to use it: 
  Benefit type is used to define the type of benefit that a customer can receive from a claim. This is done by creating a new benefit type in the FS-CM Claims Management component. The benefit type can then be assigned to a claim when it is created. 
  
  Tips & Tricks: 
  When creating a new benefit type, it is important to ensure that all relevant information is included. This includes the name of the benefit, the amount of the benefit, and any other relevant details. 
  
  Related Information: 
  For more information on how to use the FS-CM Claims Management component, please refer to the SAP Help documentation.