FWD Personal Accident Insurance: Is It Enough?

FWD Personal Accident Insurance: Is It Enough?

FWD's personal accident insurance is competitively priced and is one of the rarer plans that offers a plethora of benefits without making you pay extra.

Good for

  • Consumers looking for comprehensive coverage
  • Manual workers looking for competitively priced plans
  • Consumers who value home modification/mobility aid coverage

Bad for

  • Those looking for cheap million dollar personal accident coverage
  • Consumers looking for high disability payouts

Editor's Rating

4.5/5.0

Because FWD's Personal Accident Insurance is competitively priced while offering a variety of benefits, it can be a great option for value-seeking consumers. In fact, it can be especially appealing for consumers working in manual occupations, as FWD's lower coverage plans are some of the most affordable in the market for risky occupations. Furthermore, its wide breadth of above-average coverage for things such as home modifications, physiotherapy and personal liability can appeal to everyone from sole breadwinners to seniors.

Table of Contents

Summary of FWD Personal Accident Insurance Plans
Below average cost for most plans, regardless of your job
S$1 million coverage plan costs above average for most occupations
Offers market-beating home modification and child support benefit coverage
Purchasable online
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FWD Personal Accident Insurance Plan Highlights

FWD Personal Accident Insurance could be an attractive option for consumers looking for an affordable personal accident plan. FWD offers 5 different plans to choose from. These range from its basic plan of S$100,000 of accidental death and total and permanent disability coverage to its top tier plan with S$1 million dollars of accidental death and total and permanent disability coverage. With the exception of FWD's S$1 million dollar plan, we found most of FWD's plans to be very competitively priced. In fact, most of its premiums cost between 30%-60% below industry average.

This graph shows the cheapest personal accident plans in Singapore and where FWD's plan ranks among them.

FWD's coverage is also robust and it offers plenty of benefits to cover all the bases of dealing with an accident. For instance, beyond the standard accidental death, burns and disability coverage, it also offers market beating home modification, ambulance fee and child support coverage. The S$500,000 and S$1 million coverage plans also include a weekly income benefit (payment while you take time off work to recover from a disability) and a hospital cash benefit (cash payment for each day you are hospitalised). For an added fee, you can also purchase a variety of riders. These range from coverage for damaged personal electronic devices to additional disability coverage. Overall, these benefits can make FWD's Personal Accident insurance plans appealing to a wide range of demographics, including those who value customisation.

Despite all of FWD's strengths, we did notice that its PA plans fall slightly short compared to other insurers when it comes to total and permanent disability benefits. While some insurers offer to pay out 150%-300% of the sum assured for total and permanent disability, FWD keeps it capped at 100% and only offers additional disability coverage for an added price. Furthermore, as mentioned previously, it only offers coverage cash benefits for its higher coverage plans. Since these add-ons cost around S$80-S$110, this can price out consumers who value these benefits but can't afford FWD's S$500k or S$1 million plans.

FWD Personal Accident Insurance 100k Plan

FWD's basic-tier plan can be a good option for budget-constrained consumers looking for a personal accident plan that offers more than just basic accidental death and disability coverage. It is very competitively priced with premiums that are 25-35% cheaper than average for most consumers. It is an especially great budget option for workers in hazardous occupations, as its premiums are 40% cheaper than average for these individuals.

Furthermore, out of its competitors, FWD's S$100,000 plan offers the most benefits, including a taxi allowance, ambulance fee coverage, physiotherapy expense coverage and personal liability coverage (coverage for legal fees if your accident involves a third party). It also offers a S$100,000 child support benefit—the highest on the market for basic plans. All of these benefits are in addition to the standard accidental death and disability coverage, 24-hour worldwide assistance and unlimited emergency evacuation.

Premiums & BenefitsPlan 1Basic Plan Avg.
White Collar Worker PremiumsS$90S$138
Heavy Manual/Unskilled Worker PremiumsS$180S$346
Accidental DeathS$100,000S$86,364
Total & Permanent DisabilityS$100,000S$95,455
Medical Expenses for Accidental InjuryS$2,000S$2,143
Mobility AidsS$500S$1,800
Home ModificationsS$10,000S$4,000

FWD Personal Accident Insurance 200k & 300k Plans

FWD's S$200,000 and S$300,000 sum assured plans can be suitable options for consumers who are looking for budget mid-tier plans. This is because their premiums are approximately 40% cheaper than the market average. Similar to FWD's S$100,000 coverage plan, these plans are not the absolute cheapest options, but they do offer more coverage than their competitors. For instance, despite mobility prosthetics and medical coverages being below average, you will receive above average coverage for ambulance fee reimbursement, home modifications, personal liability, funeral grant and child support benefits. Furthermore, you'll get all these benefits without paying extra—a fairly notable benefit considering many insurers charge extra for these benefits.

Premiums & Benefits200k Plan300k Plan
White Collar Worker PremiumsS$170S$270
Heavy Manual/Unskilled Worker PremiumS$340S$540
Accidental DeathS$200,000S$300,000
Total & Permanent DisabilityS$200,000S$300,000
Medical Expenses for Accidental InjuryS$4,000S$6,000
Mobility AidsS$1,000S$2,000
Home ModificationsS$15,000S$20,000

FWD Personal Accident Insurance 500k & 1000k Plans

FWD's top-tier S$500,000 and S$1 million dollar coverage plans may be valuable options for consumers in risky occupations who are looking for a competitively priced high coverage PA plans. This is because unlike other individuals who will find premiums for these plans to cost either average or above average, consumers in manual occupations will find that their premiums are up to 30% cheaper than average.

However, the coverage provided by these plans is consistently above peer average. For instance, in addition to the standard accidental death and disability coverage, you will receive above average coverage amounts for categories such as physiotherapy, medical expenses, home modifications, funeral grant and child support coverage. These two plans also include a 2 year weekly income benefit (if you have to take time off work after a disability) and a daily hospital cash benefit without making you pay extra. This makes it a great option for families with one breadwinner who would like to be ensure they'll be able to pay the bills in the event of an emergency.

Premiums & Benefits500k Plan1000k Plan
White Collar Worker PremiumsS$550S$1,000
Heavy Manual/Unskilled Worker PremiumS$1,100S$2,000
Accidental DeathS$500,000S$100,000,00
Total & Permanent DisabilityS$500,000S$100,000,00
Medical Expenses for Accidental InjuryS$10,000S$15,000
Mobility aidsS$3,000S$5,000
Home ModificationS$30,000S$50,000
Weekly Cash (up to 104 weeks)S$300S$500

FWD Personal Accident Optional Add-Ons

FWD offers several optional benefits you can purchase to top-off coverage for your personal accident plan. If you are purchasing the plans with S$100,000-S$300,000 of accidental death and disability coverage you can purchase a daily hospital income coverage and the weekly income benefit. For all plans, you can purchase riders to cover damaged electronic devices (cell phones, tablets, laptops), medical expenses incurred overseas and additional disability coverage. There are two different disability riders: the additional permanent disability rider allows you to add more disability protection and the enhanced permanent & total disability rider disability rider increases your coverage in the event you'll be unable to re-enter your prior job.

In general, we found the personal electronics rider to be the cheapest and the weekly income and enhanced total and permanent disability riders to be the most expensive. Thus, while getting the personal electronics rider may be worth getting (especially because today's tech is quite expensive), you will have to consider whether the additional disability coverage is something that will be worth the extra cost.

Summary of Optional Riders

Benefits100k Plan200k Plan300k Plan500k Plan1000k Plan
Daily Hospital IncomeS$50S$100S$200Inc. In Base PlanInc. In Base Plan
Weekly Income BenefitS$50S$100S$200Inc. In Base PlanInc. In Base Plan
Damage to Electronic Personal Device CoverS$500S$1,000S$1,500S$2,000S$3,000
Overseas Medical Expense CoverageS$4,000S$8,000S$12,000S$20,000S$30,000
Additional Permanent Total & Partial DisabilityS$50,000S$100,000S$150,000S$250,000S$500,000
Enhanced Permanent & Total DisabilityS$100,000S$200,000S$300,000S$500,000S$1,000,000

Policy Exclusions

FWD's Personal Accident insurance does not cover accidents caused by being under the influence of drugs or alcohol, negligence/recklessness and illegal activity. Furthermore, accidents caused by suicide, intentional self harm, pre-existing medical conditions and participation in professional sports are not covered as well. Lastly, despite being able to purchase the plan, those working in hazardous work positions such as a police officers, firefighters, air/ship crewmembers, military/naval personnel or oil-riggers cannot claim for work-related accidents.

Claims & Contact Information

To file a personal accident claim with FWD, you should call their emergency assistance number (listed below) or file a claim through their claims portal. You must let FWD know of any eligible events within 30 days of the accident occurring and submit the appropriate documentation including medical reports, original invoices and police reports. Failure to do so may result in a denied claim.

Contact Information
Customer Service Hotline+65 6820 8888
Emergency Assistance Hotline+65 6322 2072
E-mail[email protected]
PA Claims InfoClaims Guide
Claim SubmissionOnline Form
Branch AddressFWD Singapore Pte Ltd, 6 Temasek Boulevard, #18-01 Suntec Tower Four, Singapore 038986

FWD Personal Accident Cost & Features

Despite offering a plethora of valuable benefits, FWD's personal accident plans remain competitively priced and can entice everyone from office workers to construction workers. However, you should make sure to compare as many plans as you can before settling on a policy to ensure you are getting the best plan for you. Below, you'll find a table summarising FWD's Personal Accident insurance premiums and coverages. If you'd like to compare it to other plans on the market, you can read our guide to the best personal accident plans in Singapore.

Coverage & Premiums100k Plan200k Plan300k Plan500k Plan1000k Plan
White Collar/Office Worker PremiumS$90S$170S$270S$550S$1,000
Sales/Light Manual Worker PremiumS$113S$213S$338S$689S$1,252
Skilled & Semi-skilled Manual Worker PremiumS$167S$315S$500S$1,019S$1,853
Heavy Manual/Unskilled Worker PremiumS$180S$340S$540S$1,100S$2,000
Accidental Death CoverageS$100,000S$200,000S$300,000S$500,000S$1,000,000
Total Disability CoverageS$100,000S$200,000S$300,000S$500,000S$1,000,000
Medical ExpensesS$2,000S$4,000S$6,000S$10,000S$15,000
Mobility Prosthetics/AidsS$500S$1,000S$2,000S$3,000S$5,000
Home ModificationS$10,000S$15,000S$20,000S$30,000S$50,000
PhysiotherapyS$1,000S$1,500S$2,000S$3,000S$5,000
Weekly Income (104 weeks)N/AN/AN/AS$300S$500
Daily Hospital Cash (365 days)N/AN/AN/AS$300S$500
Ambulance FeeS$500S$500S$500S$500S$500
Daily Taxi Allowance (2 weeks)S$20/dayS$30/dayS$40/dayS$60/dayS$100/day
Child Support BenefitS$100,000S$200,000S$300,000S$500,000S$1,000,000
Personal LiabilityS$100,000S$200,000S$300,000S$400,000S$500,000
Funeral GrantS$5,000S$5,000S$5,000S$5,000S$5,000
*Premiums rounded to nearest dollar

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