Have you ever wondered what would happen if you were suddenly diagnosed with a critical illness? How would it impact your finances, your family, and your future? These are the questions that many Singaporeans grapple with, and they're the reason why critical illness insurance has become increasingly important . If you're considering FWD Critical Illness Plus insurance, you've come to the right place. Let's break down what this policy offers, how it compares to alternatives, and whether it's the right fit for your needs and budget.
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FWD Critical Illness Plus is a comprehensive critical illness insurance plan designed to provide financial protection against a wide range of critical illnesses. Unlike standard health insurance, which primarily covers medical expenses, this policy offers lump sum payouts upon diagnosis of covered conditions . It's designed to complement your existing health insurance, ensuring you have financial support when you need it most.
Covers 36 critical illnesses at late stages. Includes early stage coverage for cancer, heart attack, and stroke.
After a claim for early stage cancer, heart attack, or stroke, your coverage reloads after 12 months.
Provides a $20,000 payout in case of death.
ICU Benefit: Provides coverage if you're admitted to the ICU. Premium Waiver Benefit: Waives future premiums after a successful early stage claim. Fracture Care PA: Additional coverage for fractures and burns.
Coverage up to age 85, with a renewable option every 10 years.
| Age | What suggestion covers | Premium |
|---|---|---|
| 25, Female making $3,786 a month | critical illness $50,000 | Not provided |
| 32, Female making $6,666.667 a month | early ci $100,000 critical illness $100,000 | $[object Object] |
| 23, Male making $2,500 a month | booster Power Reset Benefit - claim up to 500% of the Insured amount, Power Relapse Benefit - Maximum payout of 200% of the insured amount critical illness $30,000 | $563.74 |
| 31, Male making $5,000 a month | sum assured $100,000 total payout Up to 900% of Sum Assured illnesses covered Cover 126 conditions across early, intermediate and severe stages of critical illnesses critical illness benefit: total Up to 800% of Sum Assured advance 300% of sum assured (one time only) early intermediate 100% of sum assured recurrent critical illness 2x 100% of sum assured for specific groups | $1,180.7 |
| 29, Male making $20,000 a month | sum assured $250,000 total payout Up to 900% of Sum Assured illness covered Covers 132 conditions across early, intermediate and severe stages of critical illnesses critical illness benefit: total Up to 600% of Sum Assured advance 300% of sum assured early intermediate 100% of sum assured recurrent critical illness 2x 150% of sum assured for specific groups | $2,462.5 |
Pays out 100% of the sum insured if you're diagnosed with early or intermediate stages of cancer, heart attack, or stroke.
Pays out 100% of the sum insured if you're diagnosed with any of the 36 covered late-stage critical illnesses.
Pays out $20,000 if you pass away during the policy term.
If you make a claim under the Early Cancer, Heart Attack and Stroke Benefit, your coverage reloads to 100% after 12 months.
Pays out 100% of the sum insured if you're admitted to the ICU for at least 5 continuous days with invasive life support.
Waives all future premiums after a successful claim under the Early Cancer, Heart Attack and Stroke Benefit or ICU Benefit.
Provides additional coverage for fractures, burns, and dislocations.
The coverage amount depends on the plan you choose. FWD offers multiple plan options, allowing you to select the sum insured that best fits your needs and budget.
The cost of FWD Critical Illness Plus depends on several factors, including your age, gender, smoking status, and the coverage amount you choose. FWD offers competitive rates, but it's important to get a personalized quote to understand the exact cost for your situation .
Imagine you're diagnosed with early stage breast cancer. With FWD Critical Illness Plus: You'd receive 100% of your sum insured immediately . Your coverage would reload after 12 months, protecting you against future illnesses. If you have the Premium Waiver Benefit, your future premiums would be waived.
If you're in a serious accident and admitted to the ICU for a week: With the optional ICU Benefit, you'd receive 100% of your sum insured . This payout could help cover medical expenses, lost income, and other financial needs.
If you're diagnosed with a late-stage critical illness like kidney failure: You'd receive 100% of your sum insured . This lump sum could help pay for treatment, make necessary lifestyle changes, or provide financial security for your family.
Comprehensive coverage for both early and late-stage critical illnesses
Auto-reload feature provides continued protection after an early stage claim
Optional benefits allow for customized coverage
Long-term protection with renewable options
Includes a death benefit
Premiums are not guaranteed and may increase over time
Waiting period of 90 days for certain conditions
Some high-risk activities or pre-existing conditions may be excluded
Waiting Period: There's a 90-day waiting period for certain conditions, including heart attack, cancer, and stroke.
Exclusions: Like all insurance policies, there are certain exclusions. These include pre-existing conditions, self-inflicted injuries, and unlawful acts.
Premium Rates: The premium rates are not guaranteed and may be adjusted based on future claims experience.
Renewability: If you choose the 10-year renewable plan, your policy can be renewed up to age 85, but premiums will increase based on your attained age.
Claim Process: To make a claim, you'll need to provide medical evidence and fill out the necessary forms. FWD aims to make this process as smooth as possible.
FWD Critical Illness Plus offers comprehensive protection against a wide range of critical illnesses , with unique features like the auto-reload benefit and optional ICU coverage. Its flexibility in terms of coverage options and long-term protection make it an attractive choice for many Singaporeans. However, as with any insurance decision, it's important to carefully consider your personal health risks, financial situation, and long-term needs before making a choice.
Remember, the best insurance is the one that gives you peace of mind and fits your specific circumstances. If you're considering FWD Critical Illness Plus or any other critical illness plan, it's always wise to consult with a financial advisor who can provide personalized recommendations based on your unique situation.
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Read the complete transcript of our expert discussion about FWD Critical Illness Plus. This detailed analysis covers key features, benefits, and important considerations for potential policyholders.
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