Are you looking for a flexible and comprehensive life insurance plan that can protect you and your loved ones against life's unexpected events? FWD Term Life Plus might be the solution you're seeking. Let's dive into the details of this policy to help you understand if it's the right fit for your needs.
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FWD Term Life Plus is a non-participating, regular premium life insurance plan designed to provide financial protection for you and your family. It offers flexibility in choosing your coverage period, with options ranging from a minimum of 5 years up to age 70. This plan is unique because it combines life coverage with critical illness protection , giving you a comprehensive safety net.
Choose a coverage period that suits your needs, from 5 years to age 70.
Covers death, terminal illness, total and permanent disability, and critical illnesses .
Protects against 35 critical illnesses , including major cancers and heart conditions.
Future premiums are waived if you make a claim for total and permanent disability or critical illness.
Quick payout of S$5,000 by the next business day after receiving the death certificate.
If you pass away or are diagnosed with terminal illness, your spouse can get a complimentary 1-year term life policy.
| Age | What suggestion covers | Premium |
|---|---|---|
| 26, Female making $7,000 a month | critical illness $100,000 basic sum assured $100,000 | $178 |
Pays out 100% of your sum insured if you pass away during the policy term.
Pays out 100% of your sum insured if you're diagnosed with a terminal illness expected to result in death within 12 months.
Pays out 100% of your sum insured if you become totally and permanently disabled before age 65.
Covers 35 critical illnesses, paying out 100% of your sum insured for most conditions. For angioplasty, it pays 10% of your sum insured (up to S$25,000).
If you claim for TPD or critical illness, you don't need to pay future premiums while your policy continues.
Quick payout of S$5,000 to help with immediate funeral expenses.
Your spouse can get a 1-year complimentary policy with 50% of your sum insured (up to S$250,000) if you pass away or are diagnosed with terminal illness.
The coverage amount depends on the sum insured you choose when you apply for the policy. You can select an amount that fits your needs and budget. Remember, the higher the sum insured, the higher your premiums will be.
The cost of FWD Term Life Plus depends on several factors:
Premiums are payable throughout the coverage period, and you can choose to pay monthly, quarterly, half-yearly, or yearly. It's important to note that while most premiums are guaranteed to stay the same throughout each coverage period, the Critical Illness Benefit and Premium Waiver Benefit premiums may be revised based on future experience.
If you unexpectedly pass away during the policy term, your beneficiaries would receive: S$5,000 funeral financial assistance within one business day, the full sum insured amount shortly after, and your spouse could also get a complimentary 1-year term life policy .
If you're diagnosed with a covered critical illness: You'd receive the full sum insured amount (except for angioplasty), you wouldn't need to pay any more premiums, and your death and terminal illness coverage would continue at a reduced sum insured .
If you become totally and permanently disabled before age 65: You'd receive the full sum insured amount, you wouldn't need to pay any more premiums, and your death and terminal illness coverage would continue at a reduced sum insured .
Flexible coverage period options
Comprehensive protection against death, disability, and critical illnesses
Premium waiver benefit for TPD and critical illness claims
Quick funeral financial assistance
Spouse insurance benefit
No medical check-up required for basic plan
Premiums for Critical Illness Benefit may increase over time
TPD coverage ends at age 65
Some high-risk activities and pre-existing conditions may not be covered
90-day waiting period for certain critical illnesses
Be aware of the policy exclusions, such as suicide within the first two years, self-inflicted injuries, and pre-existing conditions for critical illnesses.
There's a 90-day waiting period for certain critical illnesses like major cancer and heart conditions.
TPD coverage ends at age 65, even if your policy term is longer.
While most premiums are guaranteed, Critical Illness Benefit premiums may change .
For the renewable version of the policy, you can renew annually up to age 100, but premiums will increase with age.
You should check with FWD about options for changing your sum insured after purchase.
You have a 62-day grace period to pay your premium before the policy lapses.
No, this is a term life policy with no savings or investment component, so there's no cash value.
Check with FWD about available riders to enhance your coverage.
Contact FWD as soon as possible after the insured event. They will guide you through the claim process.
FWD Term Life Plus offers a comprehensive and flexible insurance solution that can provide peace of mind for you and your loved ones. With its combination of life, disability, and critical illness coverage, along with unique features like the funeral financial assistance and spouse insurance benefit, it stands out in the market.
However, as with any insurance decision, it's crucial to carefully consider your personal needs, budget, and long-term financial goals. While FWD Term Life Plus offers many benefits, it's important to understand its limitations, such as the age limit for TPD coverage and potential premium increases for critical illness coverage.
Remember, the best insurance policy is one that fits your specific situation and gives you confidence in your financial protection. If you're considering FWD Term Life Plus or any other life insurance plan, it's wise to compare multiple options and possibly consult with a financial advisor who can provide personalized recommendations based on your unique circumstances.
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