FWD Critical Illness Insurance: What Makes it Unique? – Credit Card Review

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.

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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 50-60% cheaper than average compared to other standalone CI plans
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
Promotion: “VBIG25” for 25% off

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. 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 plan automatically renewing annually 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: “VHA25” for 25% off

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 40% 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 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	Sum insured or total premium paid, whichever is highest

FWD Stroke Insurance

FWD Stroke Insurance Promotion: “VST25” for 25% off

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	Sum insured or total premium paid, whichever is highest

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 between S$18 and S$22 to add for customers in their 20’s. However, it gets more expensive as you get older, with a 55-year-old customer paying almost S$250 for the add-on.

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

Cardiac defibrillator insertion Cardiac pacemaker insertion Cardiomyopathy Coronary artery atherectomy Coronary artery disease Enhanced external counter pulsation Increased pulmonary blood pressure Keyhole coronary bypass surgery Large Asymptomatic Aortic Aneurysm Minimally Invasive Surgery to Aorta Myocardial laser revascularisation Percutaneous valvuloplasty, Valvotomy, Percutaneous valve replacement, or Device repair Pericardiectomy

Amyotrophic lateral sclerosis Bacterial meningitis Brain aneurysm surgery (via craniotomy) Brain aneurysm surgery (via endovascular procedures) Carotid artery surgery Cavernous sinus thrombosis surgery Cerebral shunt insertion Polio Induced Muscle Weakness Primary lateral sclerosis Progressive bulbar palsy (PBP) Progressive supranuclear palsy

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. 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	Sum insured or total premium paid, whichever is highest

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