What is partial surrender in SAP FS-PM - Policy Management?

SAP Term: partial surrender

• Component: FS-PM

• Component Name: Policy Management

• Description: Partial surrender for life insurance.

Smart SAP Assistant

• Key Concepts: 
  Partial surrender is a feature of the SAP FS-PM Policy Management component that allows policyholders to partially surrender their policies. This means that policyholders can withdraw a portion of their policy’s cash value while still keeping the policy active. 
  
  How to use it: 
  To use partial surrender, policyholders must first log into their SAP FS-PM Policy Management account. Once logged in, they can select the “Partial Surrender” option from the menu. This will bring up a form where they can enter the amount they wish to withdraw from their policy. Once the form is completed, they can submit it for processing. 
  
  Tips & Tricks: 
  When using partial surrender, it is important to remember that any amount withdrawn will reduce the cash value of the policy and may also affect the policy’s performance. It is also important to note that partial surrender may not be available for all policies and may be subject to certain restrictions or fees. 
  
  Related Information: 
  For more information on partial surrender, please refer to the SAP FS-PM Policy Management documentation or contact your insurance provider.