FWD Critical Illness Insurance: What Makes it Unique?
FWD Critical Illness Insurance: What Makes it Unique?
ValueChampion Rating 
Pros
- Priced competitively
- Only plan that provides coverage exclusively for cancer, heart attack and stroke
Cons
- Covers 3 conditions only
FWD's Big 3 Critical Illness Insurance is a standalone critical illness plan that covers 3 major critical illnesses: cancer, heart attacks and strokes. Since it is a standalone plan that you can purchase online, it is a convenient option for those who want critical illness coverage without being tied into a life insurance plan or who want to top up their existing critical illness policies with additional coverage for common conditions.
Table of Contents
| Summary of FWD Big 3 Critical Illness Insurance |
|---|
| Only plan that provides coverage exclusively for cancer, heart attack and stroke |
| Policy purchase and claim submission is available online |
| Premiums are 50-66% cheaper than average compared to other standalone CI plans for most age groups |
| Provides standalone versions for just heart attack or stroke coverage |
| You can save 18-45% by opting for Big 3 than FWD's cancer, heart attack and stroke policies individually |
Highlights of FWD Big 3 Critical Illness Insurance
FWD's Big 3 Critical Illness plan could be a suitable option for people who are looking for a critical illness plan that provides coverage only for the most common illnesses. Since the focus is on the 3 main conditions affecting Singaporeans, which is cancer, stroke and heart attack, FWD's premiums are affordable compared to other standalone critical illness plans that provide coverage for a multitude of other ailments. We found its premiums to be between 50-60% cheaper compared to other standalone critical illness plans for most customers. However, women will pay more than men up until their early 50's. Middle-aged women have the greatest price discrepancy, with premiums ranging 47-65% greater than their male counterparts.
You can choose from three levels of critical illness coverage ranging from S$50,000 to S$200,000. Upon a cancer diagnosis or in the event of a heart attack or stroke, you will receive the full lump sum payment of your sum insured. Furthermore, FWD provides a S$20,000 death benefit that will be paid out if you were to die while your policy is in effect. Lastly, FWD's Big 3 is convenient to purchase. You don't need to undergo a medical examination and you only need to answer one question during your online application. This can be a beneficial feature for those who may not be able to go to a branch either due to lack of time or accessibility. You can purchase this plan if you're between 18 and 65 years old, with the option to renew the plan until you turn 85.
However, while FWD's Big 3 could be a good fit for some consumers, others may not find FWD to be suitable. First, you should note that the maximum sum insured is S$200,000. If your financial obligations and lifestyle costs are greater than this amount, then FWD may not provide enough coverage. Furthermore, this plan covers 3 conditions only. If you are looking for a critical illness plan that covers the full breadth of critical illnesses (which span between 32-34 conditions), then you may find other plans more suitable.
FWD Heart Attack Insurance
FWD Heart Attack Insurance Promotion:If you want just heart attack coverage, then you can choose to get FWD's heart attack insurance. This is the only plan on the market that provides exclusive coverage for heart attacks. You can choose S$50,000, S$100,000 and S$200,000 of coverage, which will be paid out as a lump sum if you get a heart attack (of a specified severity). If you die while your policy is in force, your beneficiaries will also receive a S$5,000 death benefit. Please note that you can not purchase this policy on top of FWD's Big 3 policy. In terms of pricing, it costs around 41-76% less than FWD's Big 3. However, unlike Big 3, women will pay cheaper premiums throughout their life. Women in their 50's will find their premiums to be 32% cheaper compared to premiums for males.
While this plan may not be the best choice for people who are looking for comprehensive coverage for a variety of critical illnesses, it can be a suitable choice for people who want coverage exclusively for heart attacks (for instance, you want to top up your existing critical illness coverage or if you are only concerned about heart conditions).
Premiums & Benefits for FWD Heart Attack Insurance
| Premiums & Coverage | S$50,000 Plan | S$100,000 Plan | S$200,000 Plan |
|---|---|---|---|
| 25-Year Old Male | S$75.49 | S$103.43 | S$111.90 |
| 35-Year Old Male | S$78.79 | S$113.48 | S$126.00 |
| 45-Year Old Male | S$107.10 | S$149.93 | S$214.20 |
| 55-Year Old Male | S$194.44 | S$308.85 | S$457.50 |
| Death Benefit | S$5,000 | S$5,000 | S$5,000 |
| Stroke, Heart attack or Cancer Payout | |||
FWD Stroke Insurance
FWD Stroke Insurance Promotion:If you are most concerned about strokes, then you may find FWD's separate Stroke Insurance plan suitable. You'll be able to choose a sum insured of S$50,000, S$100,000 or S$200,000, which will be paid out as a lump sum if you have a stroke. There is also a S$5,000 death benefit that will be paid out if you die during your policy. Similar to other FWD's critical illness policies, you will be able to renew this plan annually, and you will receive coverage until you turn 85. Out of all of FWD's critical illness policies, its Stroke Insurance plan is the cheapest.
There is no medical examination required, simply answer one medical question to purchase the policy online. Because this plan only covers stroke, we wouldn't recommend this plan to people who want comprehensive critical illness coverage.
Premiums & Benefits for FWD Stroke Insurance
| Premiums & Coverage | S$50,000 Plan | S$100,000 Plan | S$200,000 Plan |
|---|---|---|---|
| 25-Year Old Male | S$50.51 | S$68.57 | S$72.23 |
| 35-Year Old Male | S$53.44 | S$73.30 | S$83.81 |
| 45-Year Old Male | S$70.65 | S$105.98 | S$141.30 |
| 55-Year Old Male | S$116.84 | S$182.09 | S$216.11 |
| Death Benefit | S$5,000 | S$5,000 | S$5,000 |
| Stroke, Heart attack or Cancer Payout | |||
Add-ons
FWD's Big 3 Critical Illness plan provides an add-on that provides coverage for 13 additional heart conditions and 11 neurological conditions. It costs less than S$25 to add for non-smoking customers in their 20's. However, it gets more expensive as you get older. For instance, a 55-year-old customer may pay up to S$250 for the add-on if they wish to get the maximum S$200,000 sum assured.
You can also get the neurological condition or heart condition add-on for the corresponding stroke and heart attack plans.
| Covered Heart Conditions | Covered Neurological Conditions |
|---|---|
|
|
Policy Exclusions
You will not be able to file a claim for events that are indirectly or directly related to a pre-existing condition. FWD also doesn't provide coverage for some types of neoplasms or tumours that are classified as premalignant, borderline malignant, or having any degree or malignant potential. For heart attack claims, angina, heart attack of indeterminate age or if the heart attack had evidence of a rise in cardiac biomarkers or Troponin T or I following an intra-arterial cardiac procedure. For stroke claims, there are a few exclusions for a stroke caused by a transient ischaemic attack, brain damage due to accident, injury or infection, a vascular disease affecting the eye or optic nerve, among others.
Please note that there is also a waiting period of 90 days before you can claim for any of the benefits. You also can't purchase any of the individual plans (Cancer, Heart Attack or Stroke insurance) if you purchase the Big 3 plan and vice versa. Please see the FWD's policy wording for more information on exclusions and important definitions.
Claims & Contact Information
You have 90 days to notify FWD regarding a death or covered medical diagnosis. You'll be able to submit your claim online as long as you submit the proper documents, which include a copy of the attending doctor's statement, clinical abstract application form and medical reports. The main policy benefit will be paid to the policyholder and the death benefit will be paid to the nominated beneficiaries or the legal estate.
| Contact Information | |
|---|---|
| Customer Service Hotline | +65 6820 8888 |
| Claims E-mail | [email protected] |
| Mailing Address | 6 Temasek Boulevard, #18-01 Suntec Tower 4, Singapore 038986 |
| Claim Submission | Online Form |
FWD Big 3 Critical Illness Insurance Cost & Features
For some people, FWD's Big 3 critical illness plans may provide suitable coverage. However, there may be instances when it won't be the best plan for your needs. If you would like to compare FWD's Big 3 critical illness plan to other critical illness plans on the market, you can read our guide to the best critical illness plans in Singapore.
| Premiums & Coverage | S$50,000 Plan | S$100,000 Plan | S$200,000 Plan |
|---|---|---|---|
| 25-Year Old Male | S$127.46 | S$173.85 | S$231.75 |
| 35-Year Old Male | S$156.75 | S$206.62 | S$285.00 |
| 45-Year Old Male | S$219.68 | S$315.45 | S$450.60 |
| 55-Year Old Male | S$573.75 | S$877.50 | S$1,350.00 |
| Death Benefit | S$20,000 | S$20,000 | S$20,000 |
| Stroke, Heart attack or Cancer Payout | |||
Protected up to specified limits by SDIC. This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future financial needs. If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.