What is partial surrender value in SAP FS-CM - Claims Management?

SAP Term: partial surrender value

• Component: FS-CM

• Component Name: Claims Management

• Description: Amount that an insured wants to withdraw from a capital-forming life insurance.

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  Key Concepts: 
  Partial surrender value is a feature of the FS-CM Claims Management component of SAP. It allows an insurance company to pay out a portion of the total surrender value of a policy to the policyholder. This can be done in cases where the policyholder needs immediate funds, or if the policyholder wishes to terminate the policy before its maturity date. 
  
  How to use it: 
  In order to use partial surrender value, the insurance company must first calculate the total surrender value of the policy. This is done by taking into account factors such as the policyholder’s age, the amount of premiums paid, and any applicable interest rates. Once this is done, the insurance company can then decide how much of this total surrender value they wish to pay out to the policyholder. 
  
  Tips & Tricks: 
  When calculating partial surrender values, it is important to consider any applicable taxes or fees that may be due on the amount being paid out. Additionally, it is important to ensure that all relevant documents are signed and filed correctly in order to avoid any potential legal issues. 
  
  Related Information: 
  For more information on partial surrender values and other features of FS-CM Claims Management, please refer to SAP’s official documentation on the subject. Additionally, there are many online resources available that provide further information and advice on using