What is minimum death benefit total in SAP FS-PM - Policy Management?

SAP Term: minimum death benefit total

• Component: FS-PM

• Component Name: Policy Management

• Description: Minimum amount that is paid in case of death. This can be an absolute amount or a relative amount. The relative amount is derived from the percentrage rate for the premium total.

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• Key Concepts: 
  Minimum death benefit total is a feature of SAP FS-PM Policy Management. It is a minimum amount of money that must be paid out to the beneficiary of an insurance policy in the event of the policyholder's death. This amount is determined by the insurer and is usually based on the policyholder's age, health, and other factors. 
  
  How to use it: 
  The minimum death benefit total can be set up in SAP FS-PM Policy Management by entering the desired amount in the “Minimum Death Benefit Total” field. This amount will then be used to calculate the minimum amount that must be paid out to the beneficiary in the event of the policyholder's death. 
  
  Tips & Tricks: 
  It is important to ensure that the minimum death benefit total is set correctly, as this will determine how much money is paid out to the beneficiary in the event of the policyholder's death. It is also important to keep in mind that this amount may change over time, so it should be reviewed periodically to ensure it is still accurate. 
  
  Related Information: 
  For more information about setting up and managing minimum death benefit totals in SAP FS-PM Policy Management, please refer to SAP Help documentation.