Guide to Policies Offered by FWD Singapore Insurance
FWD Singapore is an insurance unit of Pacific Century established in 2013 in Asia but began operations in the city-state in 2016. The insurance company focuses on delivering easily understandable products and fresh experiences to customers supported through digital tech. By following a customer-led strategy, FWD Singapore seeks to be a top Pan-Asia insurer transforming how customers feel about insurance. FDW provides a range of insurance solutions and products designed to cater to the changing needs of Singaporeans. Here is a review of the kinds of policies the company offers.
FWD Car insurance
FWD Singapore offers one of the best car insurance policies, with 98.9% of its claims approved. It is reliable and stands out with features such as a 50% lifetime NCD guarantee and 24/7 Roadside Assistance for non-accidental and accidental breakdown. With FWD Singapore car insurance, you get a complimentary courtesy car for three months should your vehicle be written off because of an accident or is lost for customers on then Prestige and Executive Plan. Furthermore, the insurer offers clients up to $80 daily for up to ten days as your car gets repaired. Additionally, you can cover your driver and protect your family against accidents, as well as adjust your excess amount.
FWD Home insurance
A condo owner or HDB occupier can enjoy the FWD Singapore home insurance benefits since it covers essential bases for competitive prices. The premiums for the policy are 46-51% below the market average when choosing to optimize renovation coverage and contents. The upside with the plan is you can pick a policy as per renovation content, building coverage, or rooms. Customers enjoy the flexibility and the option of choosing the amount they need. Tenants and landlords have their plans offering personalized benefits. There is no excess on claims because of burst pipes or fire, and it is pet friendly. The downside with the plan is that the low coverage sub-limit might not be appealing to high-net clients and is ideal for expensive valuables such as jewelry and artwork.
Big 3 critical illness insurance
The insurance launched Big 3 Critical Illness Insurance, providing working individuals comprehensive coverage against heart attack, stroke, and cancer. The three conditions account for around 90% of critical illness claims in Singapore. Since this is a standalone plan, individuals can purchase it without ties to a life insurance policy or for customers with existing critical illness plans looking for more coverage for other conditions. Premiums are 50-60% more affordable relative to standalone critical illness policies. You can pick coverage ranging from S$50,000 to $200,000. Additionally, FWD offers a $20,000 death benefit if you die while the policy is in place.
FWD Maid Insurance
If you want cheap comprehensive coverage, then FWD Singapore’s Maid Insurance is a great option. It is among the most affordable in terms of premiums, and it offers extensive coverage relative to competitors. The plan is divided into three tiers, including Essential, Enhances, and Exclusive, with each level offering, increased coverage, and pricing. For example, the plan offers $15,000 hospitalization, S$60,000 personal accident cover, and S$10,000 repatriation. In addition, the insurer has an independent add-ons feature that allows customers to purchase some add-ons but still maintain the base plan from other providers.
FWD Personal accident insurance
For customers looking for value, FWD Singapore’s personal accident insurance can be an excellent option. FWD Singapore’s low coverage plans are among the most affordable for risky occupations, especially for manual workers. In addition, there is vast coverage for other things such as physiotherapy home modifications and personal liability. There are five plans to pick from, and the basic plan starts at S$100,000 of total disability and accidental death. The downside with the plan is the 100% cap for permanent and total disability relative to others that offer 150% to 300% coverage.
FWD Singapore International Health insurance
FWD Singapore International health insurance policy is among the most affordable plans in Singapore, with high limit plans offering high value to healthy people. The plan is available for expatriates and Singaporeans. Customers have six plans to pick from, and there is an option to pick a pan as per regions such as ASEAN, Worldwide, and Asia. FWD international health insurance premiums are affordable and cost 70-75% below the industry average. However, lower limit plans don’t offer many benefits, and it might be costly to add outpatient, dental coverage, and maternity.
FWD Singapore Travel Insurance
FWD Singapore travel insurance is among the cheapest single and yearly trip insurance policies. The plan is available in three tiers catering for different types of coverage for trip duration and travel destinations. The insurer’s offer starts from $9 for a single trip up to $178.5 for a worldwide annual travel plan. The plan covers full terrorism and unlimited medical evacuation. However, there is no coverage for pre-existing conditions, pregnancy/childbirth-related complications, traveling when ill or seeking medical attention, sexually transmitted infections, or items destroyed or taken by customs.
FWD Endowment insurance
FDW Singapore’s Endowment plan offers high guaranteed returns, and it is among the three endowment plans available in the country. It provides s short commitment period and life protection for the whole period of the policy. For as little as $1000, the investment widens accessibility of the product for individuals seeking to invest small amounts. The plan offers a commitment period of three years, high returns of 2.02% per year, guaranteed capital upon maturity, and availability to individuals aged 18 to 70 years.
FWD Singapore’s term life insurance
FWD’s term life insurance offers protection for a given period of time. You can sign up for the plan without medical examination, and there are no concerns about rejection or premiums increasing because of your health condition. However, you can use it to save or invest, implying premiums are much lower than whole life insurance. The plan is available for people aged between 18 and 40 years, and it offers coverage of up to $750,000. If you get diagnosed with a terminal illness or die, the policy pays the whole amount you are getting cover. In addition, if you pass away, your family will get $5,000 in funeral assistance.