What is 'maximum subsidized premium' in SAP FS-PM - Policy Management?

maximum subsidized premium - Overview

• Component: FS-PM

• Component Name: Policy Management

• Description: Maximum premium total that can be subsidized with the subsidy premium by the subsidy agency in the subsidy period. The maximum subsidized premium is specified by the subsidy agency and is valid for a subsidy period.

maximum subsidized premium - Details

• 
  Key Concepts: 
  Maximum subsidized premium is a feature of the FS-PM Policy Management component of SAP. It allows an insurer to set a maximum amount that they will subsidize for a policyholder's premium. This helps to ensure that the insurer does not pay out more than they are willing to in order to cover the policyholder's premium. 
  
  How to use it: 
  In order to use the maximum subsidized premium feature, an insurer must first set the maximum amount that they are willing to subsidize for a policyholder's premium. This can be done in the FS-PM Policy Management component of SAP. Once this is done, the insurer can then enter the policyholder's premium information into the system and the maximum subsidized premium will be automatically calculated and applied. 
  
  Tips & Tricks: 
  It is important to remember that the maximum subsidized premium feature is only applicable to policyholders who have their premiums subsidized by the insurer. If a policyholder does not have their premiums subsidized, then this feature will not be applicable. Additionally, it is important to ensure that the maximum amount set for the subsidized premium is accurate and up-to-date in order to ensure that the insurer does not pay out more than they are willing to. 
  
  Related Information: 
  The maximum subsidized premium feature is just one of many features available in the FS-PM Policy Management