FWD Cancer Insurance Review: High Quality Cancer Coverage?
FWD Cancer Insurance Review: High Quality Cancer Coverage?
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Pros
- Consumers on a budget
- Individuals looking for cancer only coverage
Cons
- Individuals looking for a standard critical insurance plan
- Individuals who need more than S$200k of coverage
FWD's Cancer Insurance policy is a unique standalone critical illness plan due to its ability to be purchased online. Furthermore, it can be a suitable choice for individuals seeking cancer protection due to the plan's affordable price and above average coverage compared to other cancer-only plans on the market. However, because it only focuses on cancer coverage, those who are seeking a traditional critical illness plan or a plan that offers multiple payouts may not find enough coverage in FWD's plan.
| Summary of FWD Cancer Insurance |
|---|
| Above average cancer coverage compared to other cancer insurance policies |
| Policy purchase and claim submission is available online |
| Offers free second opinion medical check |
Highlights of FWD Cancer Insurance
FWD's Cancer Insurance plan may be a suitable option for those looking for cancer-only coverage. You can choose from three levels of cancer coverage ranging from S$50,000 to S$200,000. Furthermore, you can purchase this plan and file a claim online—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 until you turn 85.
In terms of features, FWD's plan offers a free second medical opinion to review all your treatment options and when it does come time to make a claim, you will get the full payout regardless of the stage of cancer you have. This is in contrast to other plans on the market that only offer a partial payout for early stages of cancer. Furthermore, FWD's coverage is worldwide, so you will be covered regardless of where life takes you.
While FWD's Cancer Insurance may be suitable for some people, it may not be the best option for others. For instance, those who are looking for traditional critical illness plans should be aware that it doesn't cover anything besides cancer and its death coverage is maxed out at S$5,000. Furthermore, unlike multi-pay critical illness plans, FWD'S plan doesn't let you claim multiple times under the same policy. Thus, individuals worried about getting secondary illnesses that may require further claims may not receive the right coverage.
Policy Exclusions
FWD's Cancer insurance excludes coverage for cancer caused directly or indirectly from pre-existing medical conditions. There is also a 90-day waiting period before you can file a cancer claim.
Claims & Contact Information
You have 90 days to notify FWD regarding a death or cancer diagnosis. You can 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 cancer 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 Cancer Insurance Cost & Features
If you are someone who may be at risk for developing cancer (either due to family history or lifestyle) or you are simply worried more about getting cancer compared to other diseases, cancer insurance may be a suitable option. If you would like to compare FWD's cancer insurance 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$98 | S$148 | S$248 |
| 35-Year Old Male | S$118 | S$178 | S$358 |
| 45-Year Old Male | S$208 | S$358 | S$488 |
| 55-Year Old Male | S$488 | S$838 | S$1,348 |
| Early Stage Cancer Payout | 100% | 100% | 100% |
| Late Stage Cancer Payout | 100% | 100% | 100% |
Protected up to specified limits by SDIC. This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future financial needs. If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.