What is death insurance in SAP PA-PF - Pension Schemes?

SAP Term: death insurance

• Component: PA-PF

• Component Name: Pension Schemes

• Description: An employer-funded insurance that covers the employee's dependants when he or she dies.

Smart SAP Assistant

• Key Concepts: 
  Death insurance is a type of pension scheme offered by SAP. It is designed to provide financial security to the family of an employee in the event of their death. The insurance is paid out to the employee's family in the form of a lump sum or regular payments. 
  
  How to use it: 
  The death insurance component of SAP's Pension Schemes can be used to provide financial security for an employee's family in the event of their death. The insurance can be set up as a lump sum payment or as regular payments. The amount of the payment will depend on the employee's salary and other factors. 
  
  Tips & Tricks: 
  When setting up death insurance, it is important to consider the employee's salary and other factors that may affect the amount of the payment. It is also important to ensure that the insurance is set up correctly so that it will be paid out in the event of an employee's death. 
  
  Related Information: 
  SAP also offers other types of pension schemes, such as disability insurance and life insurance. These can be used to provide additional financial security for an employee and their family. It is important to consider all available options when setting up a pension scheme for an employee.