What is 'basic calculation module' in SAP FS-PM - Policy Management?

basic calculation module - Overview

• Component: FS-PM

• Component Name: Policy Management

• Description: An elementary product calculation module that contains the guaranteed share of a life insurance policy that is created when a policy is issued or a contract changed. Every life insurance coverage has a basic calculation module.

basic calculation module - Details

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  Key Concepts: 
  The basic calculation module is a component of the FS-PM Policy Management system in SAP. It is used to calculate the premiums and benefits of an insurance policy. It can also be used to calculate the cost of a policy, as well as the amount of coverage provided. 
  
  How to use it: 
  The basic calculation module can be used to calculate premiums and benefits for an insurance policy. It can also be used to calculate the cost of a policy, as well as the amount of coverage provided. The module can be accessed through the FS-PM Policy Management system in SAP. 
  
  Tips & Tricks: 
  When using the basic calculation module, it is important to ensure that all data entered is accurate and up-to-date. This will ensure that the calculations are accurate and that the policy is correctly priced. Additionally, it is important to review all calculations before finalizing a policy. 
  
  Related Information: 
  The basic calculation module is part of the FS-PM Policy Management system in SAP. Other components of this system include policy administration, claims processing, and reporting. Additionally, there are other modules available in SAP that can be used for insurance calculations, such as the premium calculation module and the benefit calculation module.