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

SAP Term: minimum death benefit total percentage

• Component: FS-PM

• Component Name: Policy Management

• Description: Minimum death benefit total = minimum death benefit total percentage * premium total

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• Key Concepts: 
  Minimum death benefit total percentage is a feature of the SAP FS-PM Policy Management component. It is a percentage of the total death benefit that must be paid out to the beneficiary in the event of the policyholder's death. This percentage is set by the policyholder and can range from 0% to 100%. 
  
  How to use it: 
  The minimum death benefit total percentage is set by the policyholder when they create a policy. This percentage will determine how much of the total death benefit must be paid out to the beneficiary in the event of the policyholder's death. The remaining amount can be used for other purposes, such as paying off debts or providing additional funds for the beneficiary. 
  
  Tips & Tricks: 
  When setting the minimum death benefit total percentage, it is important to consider your financial situation and goals. If you are looking to provide additional funds for your beneficiary, you may want to set a higher percentage. On the other hand, if you are looking to pay off debts or provide additional funds for yourself, you may want to set a lower percentage. 
  
  Related Information: 
  The minimum death benefit total percentage is just one of many features available in SAP FS-PM Policy Management. Other features include premium payment options, policy term lengths, and coverage amounts. For more information on these features and how to use them, please refer to SAP's official documentation.