FWD, a relative newcomer to the Singapore insurance market, features three tiers of travel insurance plans that are geared to address the concerns of travellers seeking all different levels of coverage at an affordable price. Overall, FWD offers reliably cheap prices for all of its plans compared to the competition for all kinds of travel destinations and trip durations, making FWD a versatile choice for your travel insurance needs.
|Summary of FWD Travel Insurance|
|One of the cheapest travel insurance plans on the market|
|Below average medical but above average trip cancellation|
|Good for travellers seeking coverage for sports equipment (up to S$2,000 across all plans)|
|Offers travel insurance app (FWDFLYER) that allows for cashless medical outpatient treatment in SG, access to emergency assistance & travel policy docs|
|Promotion Code: "BESTTRAVEL20" 20% off +S$30 CapitaVoucher* (*Annual Trip premiums > S$200)|
Table of Contents
- FWD Travel Insurance: What You Need to Know
- Sports Coverage
- Claims Information
- FWD Travel Insurance Details
FWD Travel Insurance: What You Need to Know
No matter what level of protection you seek to insure your travel plans, from entry-level to premium coverage, FWD places its emphasis squarely on quite affordable pricing for average benefits. Its Premium, Business and First plans are all above-average value picks at below-average prices. Furthermore, FWD stands out for its consistency: we found that regardless of where you're travelling or how long your trip will be, it tends to offer reliably affordable packages. Lastly, it offers a travel insurance app (FWDFLYER) that offers cashless outpatient treatments at FWD-approved panel clinics, helps you locate the nearest clinics and offers emergency assistance contacts & local police information and customer service.
FWD has very lenient exclusions terms in terms of covering you for accidents related to what you choose to do on your trip (i.e. skiing, hiking, scuba-diving). However, some of the main exclusions to take note of include medical expenses for pre-existing medical conditions, mental disorders and pregnancy-related events unless it puts the mother's life in danger. There is also no coverage for normal wear and tear and events arising from willful participation in illegal activity.
|Medical Exclusions||Trip Inconvenience Exclusions|
|Pre-existing conditions||Participation in professional or compensated sports|
|Mental disorders||Items taken by customs officials|
|Unnecessary dental expenses||Travelling against advice of regulatory authorities|
|Pregnancy-related events unless mother is at risk||Travelling to a country at war|
|Travelling when medically unfit||Claims paid for by other insurers|
FWD Premium Plan
FWD's Premium Plan, which is its lowest-tier travel insurance plan, consistently outshines most other budget travel insurance plans in being one of the cheapest policies on the market while providing a decent level of coverage. Our study of travel insurance quotes from over 20 insurers found that FWD's Premium travel insurance plan tends to be one of the least expensive plans available across the board, especially for trips within ASEAN or to other parts of Asia. This makes it a highly flexible choice for travellers who want to ensure they're getting a good price no matter where they're going or how long they'll be there.
In addition to offering among the cheapest quotes on the market, FWD's Premium Plan also features greater coverage for personal accident and death and trip cancellations as well as unlimited support during emergencies than the industry average. FWD Premium is also one of the few entry-level travel insurance plans that offers coverage for sports equipment (up to S$2,000). Based on our determination of what you get for the price you pay, FWD's Premium Plan is above-average in terms of value, so you can be confident that this plan does not sacrifice too much protection for a low price tag.
Despite this, customers seeking a high degree of peace of mind should note that the Premium plan may not offer the same degree of protection as more fully-featured plans such as the Allianz Global Assistance Bronze plan. Though FWD's plan is cheap and offers good value, it also provides coverage that is below the industry average for medical expenses, trip delays, baggage loss, and other travel inconveniences. Nonetheless, if pricing is one of your main considerations when shopping for travel insurance, we have found that the FWD Premium plan is a reliable pick for a very cheap travel insurance policy that covers most of the bases no matter where you're headed.
|Premiums & Coverage||Premium Plan Price||Basic Plan Average|
|1-Week ASEAN Value Ratio||0.87||0.79|
|1-Week Asia Value Ratio||0.99||0.78|
|1-Week Global Value Ratio||0.96||0.74|
|Total Medical & Personal Accident||S$400,000||S$411,000|
|Total Trip Inconvenience||S$11,000||S$10,500|
FWD Business Plan
FWD's mid-tier travel insurance plan, the Business Plan, combines average coverage with relatively inexpensive prices for an overall package of medium value. While it does not wow in terms of coverage, its modest pricing may attract those who want a little more protection than might be offered by an entry-level travel insurance plan without paying through the roof for it. Global travellers to countries outside ASEAN and Asia will get the most bang for their buck with this affordable plan.
Our study found that FWD's Business Plan tended to consistently rank as one of the top 5 cheapest mid-range travel insurance plans irrespective of destination or trip duration. Based on our findings, it is actually one of the cheapest, if not the cheapest, mid-tier travel insurance policies for 2 week trips within ASEAN, Asia, and even globally. This could make it a good compromise if you want to strike a balance between affordability and coverage.
However, the FWD Business Plan's reliable affordability comes at a cost. It offers below average coverage in many travel inconvenience categories like trip cancellations, delays, and lost or delayed baggage. Customers who don't wish to sacrifice protection against these kinds of difficulties may not want to compromise just for a smaller bill. If you're a sports enthusiast, on the other hand, you may be heartened to know that like the FWD Premium and First plans, the Business plan offers up to S$2,000 of coverage for sports equipment.
|Premiums & Coverage||Business Plan||Mid-Tier Industry Average|
|1-Week ASEAN Value Ratio||0.98||1.03|
|1-Week Asia Value Ratio||1.07||0.99|
|1-Week Global Value Ratio||1.22||1.00|
|Total Medical/Personal Accident||S$800,000||S$819,600|
|Total Trip Inconvenience||S$16,100||S$16,700|
FWD First Plan
Balance is the name of the game with the FWD First Plan: Compared to other top-shelf travel insurance plans, it offers below-average levels of coverage on nearly all fronts for below-average prices. It is not a particularly luxe choice, nor is it the cheapest choice among other plans within its tier. But if you are definitely in the market for a premium travel insurance policy with higher levels of coverage than tend to be provided in lower-tier policies, there are savings to be found with the FWD First Plan. All in all, this makes the FWD First Plan a relatively high-value option.
We think that individuals who travel often enough (more than 3 to 5 times a year) and want the higher level of coverage afforded by an annual travel insurance plan are likely to get the best value out of the FWD First Plan. For people shopping for an annual travel insurance plan, the FWD First Plan is a relatively no-frills premium option that will cover the necessary bases without breaking the bank.
On the other hand, if you're in the market for a top-tier travel insurance plan because you want the best travel insurance money can buy and/or premium benefits for specialized purposes such as destination weddings, watersports or golf, the FWD First Plan may not be the best fit for you. Apart from its $2,000 cover for sports equipment (identical to the level of coverage provided under the cheaper FWD Premium and Business plans), the First Plan is light on value-added perks.
|Premiums & Coverage||First Plan||Top-Tier Industry Average|
|1-Week ASEAN Value Ratio||1.26||1.33|
|1-Week Asia Value Ratio||1.35||1.32|
|1-Week Global Value Ratio||1.54||1.35|
|Total Medical/Personal Accident||S$1,400,000||S$1,639,000|
|Total Trip Inconvenience||S$24,500||S$26,200|
FWD doesn't have specific sports packages, but it automatically includes certain adventurous activity and sports in its overall cover, including skiing, snowboarding, bungee jumping, skydiving, hiking and scuba diving. It also has an optional S$2,000 cover for your sports equipment for an extra S$8.
To submit a claim with FWD, you can either call their Emergency Assistance number (below) or use their claims portal. There is a guide on their website that describes what kind of documentation you need for each type of claim as well as an FAQ.
|Customer Service||(65) 6820 8888|
|24-Hour Emergency Assistance||(65) 6322 2072|
|Address||FWD Singapore Pte. Ltd., 6 Temasek Blvd., #18-01 Suntec Tower Four, Singapore 038986|
FWD Travel Insurance Benefits & Coverage
With so many options for travel insurance plans in Singapore, it's no wonder that picking the right one for your next business trip or holiday can seem like a daunting task. Below, we've compiled a summary of FWD's premiums and coverage and how it compares to the industry average. If you'd like to learn more about FWD and other insurers, please consider reading our list of the best and cheapest travel insurance plans in Singapore.
|1 Week ASEAN Value Ratio||0.95||1.08||1.40||1.00|
|Annual Global Ratio||1.03||1.32||1.66||1.00|
|Coverage Benefits||Premium||Business||First||Industry Average|
|Personal Accident & Death||S$200,000||S$300,000||S$400,000||S$329,300|
|Baggage Loss Damage||S$3,000||S$5,000||S$7,500||S$5,700|