Critical Illness

FWD Cancer 2.0 Insurance: Comprehensive Protection Against Cancer

Are you worried about the financial impact of a cancer diagnosis? You're not alone. Cancer is a leading cause of death in Singapore, with 1 in 4 people developing cancer in their lifetime. FWD Cancer 2.0 Insurance offers a comprehensive solution to protect you and your loved ones from the financial burden of cancer. Let's dive into the details of this policy to help you make an informed decision.

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What is FWD Cancer 2.0 Insurance?

FWD Cancer 2.0 Insurance is a critical illness insurance plan that provides financial protection against various stages of cancer . It's designed to offer peace of mind by covering you from early-stage cancer to late-stage cancer, with unique features that set it apart from other cancer insurance plans.

Key Features

Comprehensive Cancer Coverage

Covers early-stage and late-stage cancers. Includes a Pre-early Cancer Benefit.

Reload Benefits

Late-stage Reload Benefit. Optional Early-stage Reload Benefit.

High Entry Age and Long-lasting Protection

Entry age up to 65 years old. Coverage until age 85.

Guaranteed Acceptance

No medical check-up required for basic plan.

Death Benefit

S$5,000 payout upon death.

Why compare FWD Cancer 2.0 with other Critical Illness options through Whatins?

Traditional Approach

  • Limited visibility into critical illness definitions
  • Single insurer's critical illness criteria
  • May miss important coverage distinctions

Whatins Advantage

  • Compare critical illness definitions across insurers
  • Understand early, intermediate, and late stage differences
  • See how different critical illness plans complement each other
  • Compare exclusions and waiting periods

Detailed Benefits

Pre-early Cancer Benefit

Pays 10% of sum insured or S$10,000 (whichever is lower). Covers benign tumors requiring surgical excision and borderline malignant tumors. One-time claim only.

Cancer Benefit

Pays 100% of sum insured. Covers both early-stage and late-stage cancers.

Late-stage Reload Benefit

After a Cancer Benefit claim, you get a 24-month reload period. Premiums are waived during this period. After 24 months, you're covered again for late-stage cancer at 100% of original sum insured. Can claim for same or different cancer after complete remission.

Optional Early-stage Reload Benefit

Similar to Late-stage Reload Benefit, but covers early-stage cancers as well.

Death Benefit

S$5,000 payout upon death of the insured person.

Coverage Options

FWD Cancer 2.0 Insurance offers six plans with different sum insured amounts:

Plan A: S$100,000

Plan B: S$200,000

Plan C: S$300,000

Plan D: S$500,000

Plan E: S$750,000

Plan F: S$1,000,000

Premium Costs

The premium depends on your age, gender, smoking status, and chosen plan. Here's a general idea of annual premiums (including 8% GST):

For Occupation Class 1 & 2 (low-risk jobs):

  • Plan A: S$176.64 to S$898.32
  • Plan F: S$898.32 to S$2,245.80

For Occupation Class 4 (high-risk jobs):

  • Plan A: S$441.59 to S$2,245.80
  • Plan F: S$2,245.80 to S$5,614.50

Remember, these are just examples. Your actual premium may differ.

Unique Features of FWD Cancer 2.0 Insurance

Reload Benefits

This feature sets FWD Cancer 2.0 apart from many other cancer insurance plans. After making a claim, you get a 24-month reload period where premiums are waived. After this period, you're covered again for late-stage cancer (and early-stage cancer if you opt for the Early-stage Reload Benefit).

Pre-early Cancer Benefit

This benefit covers benign tumors that require surgical excision and borderline malignant tumors. Many cancer insurance plans don't offer this level of early protection.

High Entry Age

You can apply for this policy up to age 65, which is higher than many other cancer insurance plans.

Coverage Until Age 85

This long coverage period ensures you're protected well into your senior years when the risk of cancer increases.

Guaranteed Acceptance

For the basic plan, there's no medical check-up required, making it easier to get coverage.

Real-Life Scenarios

Early-Stage Cancer

Imagine you're diagnosed with early-stage prostate cancer at age 55. FWD Cancer 2.0 would pay out 100% of your sum insured. If you had Plan D (S$500,000), you'd receive S$500,000 to help with treatment costs and any loss of income .

Late-Stage Cancer After Previous Claim

Let's say you claimed for early-stage breast cancer at age 60. After the 24-month reload period, you're diagnosed with late-stage lung cancer at age 65. With the Late-stage Reload Benefit, you'd receive another 100% payout of your original sum insured .

Benign Tumor

At age 70, you're diagnosed with a benign brain tumor requiring surgery. The Pre-early Cancer Benefit would pay out 10% of your sum insured or S$10,000, whichever is lower, helping with the surgical costs.

Important Considerations

Waiting Period

There's a 90-day waiting period from the policy start date or reinstatement date. Any cancer diagnosed within this period won't be covered.

Exclusions

FWD Cancer 2.0 won't cover: Pre-existing conditions, Self-inflicted injuries or suicide within the first year, Unlawful acts, Drug or alcohol abuse, HIV/AIDS-related cancers, Congenital or hereditary conditions.

Pros and Cons

Pros

  • Comprehensive cancer coverage from early to late stages

  • Unique reload benefits for multiple claims

  • Pre-early Cancer Benefit for added protection

  • High entry age and long coverage period

  • Guaranteed acceptance for basic plan

Cons

  • Premiums are not guaranteed and may increase

  • Only covers cancer, not other critical illnesses

  • Pre-existing conditions are not covered

  • 90-day waiting period for cancer claims

Is FWD Cancer 2.0 Insurance Right for You?

This policy could be a good fit if:

  • You want comprehensive cancer-specific coverage
  • You're looking for a plan with reload benefits for multiple claims
  • You want coverage for benign tumors and borderline malignant tumors
  • You're older (up to 65) and looking for cancer insurance
  • You want guaranteed acceptance without a medical check-up

However, you might want to look at other options if:

  • You want coverage for critical illnesses beyond cancer
  • You have pre-existing conditions that might affect your coverage
  • You're looking for a policy with guaranteed premiums

Remember, while FWD Cancer 2.0 Insurance offers robust cancer protection, it's essential to consider it as part of your overall financial and health protection strategy. It works best when complementing a comprehensive health insurance plan and other critical illness coverage.

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