FWD Travel Insurance: Should You Buy It?
FWD Travel Insurance: Should You Buy It?
ValueChampion Rating 
Pros
- Offers some of cheapest plans on the market
- Provides good sports equipment coverage
- Plans are generally good value for money
- FWD Flyer app makes medical claims convenient
Cons
- Below average medical coverage
- First plan is light on miscellaneous perks other top-tier plans offer
FWD, a relative newcomer to the Singapore insurance market, features three tiers of travel insurance plans that are geared to address the concerns of travellers seeking all different levels of coverage at an affordable price. Overall, FWD offers reliably cheap prices for all of its plans compared to the competition for all kinds of travel destinations and trip durations, making FWD a versatile choice for your travel insurance needs.
| Summary of FWD Travel Insurance |
|---|
| One of the cheapest travel insurance plans on the market |
| Below average medical but above average trip cancellation |
| Good for travellers seeking coverage for sports equipment (up to S$2,000 across all plans) |
| FWD Flyer app lets you see a doctor online, enjoy cashless medical outpatient treatment in Singapore and gives you access to emergency assistance and your travel policy documents |
| The COVID-19 add-on coverage is available for Annual Travel plans with duration up to 90 days or less per trip and Single Trip plans for up to 90 days |
Table of Contents
- FWD Travel Insurance: What You Need to Know
- Sports Coverage
- Claims Information
- FWD Travel Insurance Details
FWD Travel Insurance: What You Need to Know
No matter what level of protection you seek to insure your travel plans, from entry-level to premium coverage, FWD places its emphasis squarely on quite affordable pricing for average benefits. Its Premium, Business and First plans are all above-average value picks at below-average prices. Furthermore, FWD stands out for its consistency: we found that regardless of where you're travelling or how long your trip will be, it tends to offer reliably affordable packages. It is also one of the few insurers who offers unlimited medical evacuation across all its plans. Customers who opt to take up FWD's COVID-19 coverage add-on for single trip plans will enjoy coverage pre-trip (within 30 days), during and after the trip (within 14 days). Lastly, it offers a travel insurance app (FWDFLYER) that offers cashless outpatient treatments at FWD-approved panel clinics, helps you locate the nearest clinics and offers emergency assistance contacts & local police information and customer service.
Notable Exclusions
FWD has very lenient exclusions terms in terms of covering you for accidents related to what you choose to do on your trip (i.e. skiing, hiking, scuba-diving). However, some of the main exclusions to take note of include medical expenses for pre-existing medical conditions, mental disorders and pregnancy-related events unless it puts the mother's life in danger. There is also no coverage for normal wear and tear and events arising from willful participation in illegal activity.
| Medical Exclusions | Trip Inconvenience Exclusions |
|---|---|
| Pre-existing conditions | Participation in professional or compensated sports |
| Mental disorders | Items taken by customs officials |
| Unnecessary dental expenses | Travelling against advice of regulatory authorities |
| Pregnancy-related events unless mother is at risk | Travelling to a country at war |
| Travelling when medically unfit | Claims paid for by other insurers |
FWD Premium Plan
FWD's Premium Plan, which is its lowest-tier travel insurance plan, provides a wide variety of coverage for fairly competitive prices. In fact, when FWD is hosting one of its promotions, the Premium plan will be one of the cheapest plans on the market, especially for trips within ASEAN or to other parts of Asia. This makes it a highly flexible choice for travellers who want to ensure they're getting a good price no matter where they're going or how long they'll be there.
In addition to offering very competitively priced plans, FWD's Premium Plan also features unlimited emergency medical evacuation and repatriation, and above average limits for personal accident and trip cancellation or curtailment. FWD Premium is also one of the few entry-level travel insurance plans that offers coverage for sports equipment (up to S$2,000). Based on our determination of what you get for the price you pay, FWD's Premium Plan is above-average in terms of value, so you can be confident that this plan does not sacrifice too much protection for a low price tag.
Despite its pros, customers seeking a high degree of peace of mind should note that the Premium plan may not offer the same degree of protection as more fully-featured plans. Though FWD's plan is cheap and offers good value, it also provides below average coverage for medical expenses, trip delays, baggage loss, and other travel inconveniences. Nonetheless, if pricing is one of your main considerations when shopping for travel insurance, we have found that the FWD Premium plan is a reliable choice for a very cheap travel insurance policy that covers the most important bases.
| Premiums & Benefits | Premium Plan | Basic Plan Average |
|---|---|---|
| 1-Week ASEAN | S$20.25 | S$33.00 |
| 1-Week Global | S$37.80 | S$59.00 |
| Annual ASEAN | S$194.66 | S$191.00 |
| Annual Global | S$194.66 | S$297.00 |
| 1-Week ASEAN Value Ratio | 1.07 | 0.74 |
| Emergency Evacuation | Unlimited | S$550,000 |
| Overseas Medical | S$200,000 | 206,563 |
| Trip Cancellation | S$7,500 | S$5,816 |
| Trip Delay | S$300 | S$785 |
| Baggage Loss/Damage | S$3,000 | S$3,058 |
| Premiums & Benefits | Premium Plan | Basic Plan Average |
|---|---|---|
| 1-Week ASEAN | S$20.25 | S$33.00 |
| 1-Week Global | S$37.80 | S$59.00 |
| Annual ASEAN | S$194.66 | S$191.00 |
| Annual Global | S$194.66 | S$297.00 |
| 1-Week ASEAN Value Ratio | 1.07 | 0.74 |
| Emergency Evacuation | Unlimited | S$550,000 |
| Overseas Medical | S$200,000 | 206,563 |
| Trip Cancellation | S$7,500 | S$5,816 |
| Trip Delay | S$300 | S$785 |
| Baggage Loss/Damage | S$3,000 | S$3,058 |
FWD Business Plan
FWD's mid-tier travel insurance plan, the Business Plan, combines average coverage with relatively inexpensive prices for an overall package of medium value. While it does not wow in terms of coverage, its modest pricing and flexibility to add additional lifestyle benefits may attract individual travellers who want a little more protection than might be offered by an entry-level travel insurance plan without paying through the roof for it. Furthermore, FWD Business is one of the highest value mid-tier plans for families, thanks to its competitive pricing and above average family limits for emergency medical evacuation, trip cancellation and baggage damage coverage.
However, the FWD Business Plan's reliable affordability comes at a cost. For individual plans, it offers below average coverage in many travel inconvenience categories like trip cancellations, delays, and lost or delayed baggage. Customers who don't wish to sacrifice protection against these kinds of difficulties may not want to compromise just for a smaller bill. On the other hand, sports enthusiasts may be able to find compromise with the S$2,000 sports equipment coverage.
| Premiums & Coverage | Business Plan | Mid-Tier Industry Average |
|---|---|---|
| 1-Week ASEAN | S$29.25 | S$50.00 |
| 1-Week Global | S$48.60 | S$85.00 |
| Annual ASEAN | S$277.31 | S$245.00 |
| Annual Global | S$277.31 | S$356.00 |
| 1-Week ASEAN Value Ratio | 1.20 | 1.00 |
| Emergency Evacuation | Unlimited | S$1,000,000 |
| Overseas Medical | S$500,000 | S$514,130 |
| Trip Cancellation | S$10,000 | S$9,609 |
| Trip Delay | S$500 | S$1,039 |
| Baggage Loss/Damage | S$5,000 | S$4,913 |
| Premiums & Coverage | Business Plan | Mid-Tier Industry Average |
|---|---|---|
| 1-Week ASEAN | S$29.25 | S$50.00 |
| 1-Week Global | S$48.60 | S$85.00 |
| Annual ASEAN | S$277.31 | S$245.00 |
| Annual Global | S$277.31 | S$356.00 |
| 1-Week ASEAN Value Ratio | 1.20 | 1.00 |
| Emergency Evacuation | Unlimited | S$1,000,000 |
| Overseas Medical | S$500,000 | S$514,130 |
| Trip Cancellation | S$10,000 | S$9,609 |
| Trip Delay | S$500 | S$1,039 |
| Baggage Loss/Damage | S$5,000 | S$4,913 |
FWD First Plan
We think that individuals who don't travel often are likely to get the best value out of the FWD First Plan. However, balance is the name of the game: Compared to other top-shelf travel insurance plans, its coverage teeters on average to below average for most benefits, while featuring below-average prices. It is not a particularly luxe choice, nor is it the cheapest choice among other plans within its tier—especially when it comes to annual plans. However, if you are in the market for a premium single trip travel insurance plan with higher levels of coverage than what tends to be provided in lower-tier policies, then you'll be able to save around 30% with FWD.
On the other hand, if you're in the market for a top-tier travel insurance plan because you want the best travel insurance money can buy and/or premium benefits for specialized purposes such as destination weddings or golf, then the FWD First Plan may not be the best fit for you. Apart from its $2,000 cover for sports equipment (identical to the level of coverage provided under the cheaper FWD Premium and Business plans), the First Plan is light on value-added perks.
| Premiums & Coverage | First Plan | Top-Tier Industry Average |
|---|---|---|
| 1-Week ASEAN | S$36.75 | S$62.00 |
| 1-Week Global | S$65.70 | S$101.00 |
| Annual ASEAN | S$305.59 | S$294.00 |
| Annual Global | S$342.40 | S$418.00 |
| 1-Week ASEAN Value Ratio | 1.20 | 1.00 |
| Emergency Evacuation | Unlimited | Unlimited |
| Overseas Medical | S$1,000,000 | S$1,064,677 |
| Trip Cancellation | S$15,000 | S$15,087 |
| Trip Delay | S$1,000 | S$1,426 |
| Baggage Loss/Damage | S$7,500 | S$7,232 |
| Premiums & Coverage | First Plan | Top-Tier Industry Average |
|---|---|---|
| 1-Week ASEAN | S$36.75 | S$62.00 |
| 1-Week Global | S$65.70 | S$101.00 |
| Annual ASEAN | S$305.59 | S$294.00 |
| Annual Global | S$342.40 | S$418.00 |
| 1-Week ASEAN Value Ratio | 1.20 | 1.00 |
| Emergency Evacuation | Unlimited | Unlimited |
| Overseas Medical | S$1,000,000 | S$1,064,677 |
| Trip Cancellation | S$15,000 | S$15,087 |
| Trip Delay | S$1,000 | S$1,426 |
| Baggage Loss/Damage | S$7,500 | S$7,232 |
Sports Coverage
FWD doesn't have specific sports packages, but it automatically includes certain adventurous activity and sports in its overall cover, including skiing, snowboarding, bungee jumping, skydiving, hiking and scuba diving. It also has an optional S$2,000 cover for your sports equipment for an extra S$8.
COVID-19 Coverage
Customers who purchase a Single Trip travel plan with FWD can opt to take up FWD's COVID-19 add-on coverage for trips up to 90 days. Apart from Single Trip plans, COVID-19 add-on coverage is available for Annual Travel plans with duration up to 90 days or less per trip as well.
Refer to the table below for key benefits of the add-on:
| Event | Coverage | Period |
|---|---|---|
| Trip cancellation and loss of deposits | Capped at S$5,000 if insured is unable to proceed with trip due to being diagnosed with COVID-19 Includes close contact cover | Within 30 days pre-trip |
| Trip Disruption | Capped at S$5,000 for additional travel and accommodation expenses incurred if the insured: - cannot return to Singapore as per original itinerary because he/she is diagnosed with COVID-19 - is required to self-isolate by law because he/she is a close contact | During trip |
| Overseas Quarantine Allowance | $50/day for 14 days if insured is required to quarantine in a non-hospital setting | During trip |
| Overseas hospital cash | $100 a day up to 14 days if insured is hospitalised overseas due to COVID-19 | During trip |
| Hospital cash in SG | $100/day for up to 14 days | Within 14 days after returning to Singapore |
| COVID-19 medical expenses incurred (both SG and overseas) | Up to S$200,000 for necessary COVID-19 related medical treatment costs while overseas or within 14 days after returning to Singapore | During or after your trip |
| Emergency medical repatriation and evacuation | Up to S$200,000 if insured: - is diagnosed with COVID-19 while overseas and is necessary to be moved to a medical facility in Singapore - needs to be moved back to SG for continued treatment after being moved to overseas medical facility for treatment - dies while overseas | Within 14 days post-trip |
Claims Information
To submit a claim with FWD, you can either call their Emergency Assistance number (below) or use their claims portal. There is a guide on their website that describes what kind of documentation you need for each type of claim as well as an FAQ.
| Contact Information | |
|---|---|
| Customer Service | (65) 6820 8888 |
| 24-Hour Emergency Assistance | (65) 6322 2072 |
| Address | FWD Singapore Pte. Ltd., 6 Temasek Blvd., #18-01 Suntec Tower Four, Singapore 038986 |
| Claims | Website |
FWD Travel Insurance Benefits & Coverage
With so many options for travel insurance plans in Singapore, it's no wonder that picking the right one for your next business trip or holiday can seem like a daunting task. Below, we've compiled a summary of FWD's premiums and coverage and how it compares to the industry average. If you'd like to learn more about FWD and other insurers, please consider reading our list of the best and cheapest travel insurance plans in Singapore.
| Premium | Business | First | Industry Average | |
|---|---|---|---|---|
| 1-Week ASEAN | S$20.25 | S$29.25 | S$36.75 | S$48.00 |
| Annual ASEAN | S$194.66 | S$277.31 | S$305.59 | S$248.00 |
| 1-Week Asia | S$21.75 | S$33.00 | S$42.00 | S$59.00 |
| Annual Asia | S$152.00 | S$211.20 | S$305.59 | S$264.00 |
| 1-Week Global | S$37.80 | S$48.60 | S$65.70 | S$83.00 |
| Annual Global | S$194.66 | S$277.31 | S$342.40 | S$362.00 |
| 1 Week ASEAN Value Ratio | 1.07 | 1.20 | 1.54 | 1.01 |
| Annual Global Ratio | 0.88 | 0.88 | 1.27 | 1.00 |
| Personal Accident & Death | S$200,000 | S$300,000 | S$400,000 | S$261,588 |
| Medical | S$200,000 | S$500,000 | S$1,000,000 | S$598,140 |
| Emergency Medical/Evacuation/Repatriation | Unlmtd | Unlmtd | Unlmtd | S$772,727 |
| Trip Cancellation | S$7,500 | S$10,000 | S$15,000 | S$10,224 |
| Trip Delays | S$300 | S$500 | S$1,000 | S$1,087 |
| Baggage Loss Damage | S$3,000 | S$5,000 | S$7,500 | S$5,082 |
| Baggage Delay | S$200 | S$600 | S$1,000 | S$998 |
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.