Editing Beneficiaries
On the Beneficiaries
tab page you can edit beneficiaries of the plan. You can include one or more business partners (persons or organizations) who are beneficiaries for the plan. You use the priority
of the beneficiary and the inheritance share
to specify how beneficiaries are to gain by the plan.
If the plan holder becomes deceased, the plan can be transferred to the beneficiary business partner and continued. Beneficiaries can, however, also gain by the plan at a specified point in time, for example, at the start of their higher education.
Prerequisites
In Customizing for
Master Contract Management
you have defined a master contract product with the corresponding settings for the grouping attributeBeneficiary
under
Product Management
Product Definition
Master Contract Products
.You can restrict the allowed values for the field attributes
Priority
andInheritance Share
in the master contract product.Before you can edit beneficiaries, you need to define one or more business partners in the role of
Beneficiary
.
NoteThere is no connection between the
Beneficiary
tab page and theBusiness Partner
tab page.If you use a different system for managing business partners, ensure that it meets the prerequisites.
For more information, see Communication with Logical Systems.
End of the note.
Procedure
Note
When you edit beneficiaries, you need to note the following:
The plan holder is not allowed to be the beneficiary for the plan.
You can use the business partner as a beneficiary only once.
You can define beneficiaries with the first priority (01) only.
The total of inheritance shares for beneficiaries of the first priority must be 100 percent. You need to divide the inheritance shares accordingly if there is more than one beneficiary. Do not use decimal figures.
You need to take into account the valid legal and tax requirements of your country.
Add Beneficiaries
To add a beneficiary, proceed as follows:
Enter a
business partner number
that already exists in the system for the beneficiary.Choose 01 as the
Priority
for the beneficiary.Specify the
Inheritance Share
for the beneficiary (for example, 100).
Changing Inheritance Shares for Beneficiaries
If there is more than one beneficiary for a plan, you can change the inheritance share to redefine how the beneficiaries are to gain by the plan in the future.
Removing Beneficiaries
Select the line of the beneficiary and choose Delete
. Note that you need to distribute the inheritance share of the removed beneficiary to the others, so that the total of the inheritance shares still amounts to 100.
Result
You have edited beneficiaries of a master contract that has the feature Payment Distribution and Monitoring
. The system saves your data.
If your entries are subject to release, another user with release authorization may need to release them before they can take effect.