FWD Travel Insurance: Should You Buy It?

FWD Travel Insurance: Should You Buy It?

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.

Good for

  • Deal-hunters seeking one of the cheapest plans on the market
  • People who want decent coverage for sports equipment
  • People seeking good value compared to other cheapest plans

Bad for

  • People who want to maximise peace of mind given average coverage

Editor's Rating


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" for 20% off

Table of Contents

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.

This graph compares the prices of basic-tier travel insurance plans in Singapore for a 1-week trip within Asia. It shows that FWD's Premium plan is the third-cheapest plan on the market within this category.

Notable Exclusions

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 ExclusionsTrip Inconvenience Exclusions
Pre-existing conditionsParticipation in professional or compensated sports
Mental disordersItems taken by customs officials
Unnecessary dental expensesTravelling against advice of regulatory authorities
Pregnancy-related events unless mother is at riskTravelling to a country at war
Travelling when medically unfitClaims 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 & CoveragePremium Plan PriceBasic Plan Average
1-Week ASEANS$21.60S$34.00
1-Week GlobalS$34.40S$59.00
Annual ASEANS$143.20S$196.90
Annual GlobalS$190.40S$282.49
1-Week ASEAN Value Ratio0.870.79
1-Week Asia Value Ratio0.990.78
1-Week Global Value Ratio0.960.74
Total Medical & Personal AccidentS$400,000S$411,000
Total Trip InconvenienceS$11,000S$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 & CoverageBusiness PlanMid-Tier Industry Average
1-Week ASEANS$31.20S$46.00
1-Week GlobalS$46.40S$78.00
Annual ASEANS$204.00S$242.00
Annual GlobalS$305.60S$343.00
1-Week ASEAN Value Ratio0.981.03
1-Week Asia Value Ratio1.070.99
1-Week Global Value Ratio1.221.00
Total Medical/Personal AccidentS$800,000S$819,600
Total Trip InconvenienceS$16,100S$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 & CoverageFirst PlanTop-Tier Industry Average
1-Week ASEANS$39.20S$56.00
1-Week GlobalS$61.60S$90.00
Annual ASEANS$224.80S$302.00
Annual GlobalS$342.40S$421.00
1-Week ASEAN Value Ratio1.261.33
1-Week Asia Value Ratio1.351.32
1-Week Global Value Ratio1.541.35
Total Medical/Personal AccidentS$1,400,000S$1,639,000
Total Trip InconvenienceS$24,500S$26,200

Sports Coverage

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.

Claims Information

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.

Contact Information
Customer Service(65) 6820 8888
24-Hour Emergency Assistance(65) 6322 2072
AddressFWD 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.

PremiumBusinessFirstIndustry Average
1-Week ASEANS$21.60S$31.20S$39.20S$46.00
Annual ASEANS$143.20S$204.00S$224.80S$248.00
1-Week AsiaS$23.20S$35.20S$44.80S$56.00
Annual AsiaS$152.00S$211.20S$236.80S$264.38
1-Week GlobalS$34.40S$46.40S$61.60S$78.00
Annual GlobalS$190.40S$305.60S$342.40S$355.00
1 Week ASEAN Value Ratio0.951.081.401.00
Annual Global Ratio1.031.321.661.00
Coverage BenefitsPremiumBusinessFirstIndustry Average
Personal Accident & DeathS$200,000S$300,000S$400,000S$329,300
Emergency Medical/Evacuation/RepatriationUnlmtdUnlmtdUnlmtdS$1,043,000
Trip CancellationS$7,500S$10,000S$15,000S$12,900
Trip DelaysS$300S$500S$1,000S$1,300
Baggage Loss DamageS$3,000S$5,000S$7,500S$5,700
Baggage DelayS$200S$600S$1,000S$1,100

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