What is 'coverage state' in SAP FS-PM - Policy Management?

coverage state - Overview

• Component: FS-PM

• Component Name: Policy Management

• Description: An attribute that describes a property of the coverage, in addition to the coverage status.

coverage state - Details

• 
  Key Concepts: 
  Coverage state is a feature of the FS-PM Policy Management component of SAP. It is used to define the status of a policy or contract, such as active, inactive, or expired. It is also used to determine the eligibility of a policyholder for certain benefits or services. 
  
  How to use it: 
  In order to use coverage state, you must first create a policy or contract in the FS-PM Policy Management component. Once the policy or contract is created, you can set the coverage state by selecting one of the available options from the drop-down menu. You can also set additional parameters such as start and end dates for the coverage period. 
  
  Tips & Tricks: 
  When setting up coverage state, it is important to ensure that all relevant information is included in the policy or contract. This includes details such as the policyholder's name, address, and contact information. Additionally, it is important to ensure that all applicable benefits and services are included in the coverage state settings. 
  
  Related Information: 
  For more information on coverage state and how to use it in FS-PM Policy Management, please refer to SAP's official documentation on the topic. Additionally, there are many online resources available that provide detailed tutorials and step-by-step instructions on how to set up coverage state in SAP.