FWD Life Protection Review

FWD Life Protection is a whole life insurance plan that provides boosted coverage even after the end of the multiplier stage. Enjoy other benefits such as retrenchment benefits, ICU benefits and the option to turn the accumulated cash value into annual income payouts.

FWD Life Protection product details

• Life policy – Whole Life Policy
• Choice of Premium Terms
  • You can choose to pay premiums for 5, 10, 15, 20 or 25 years
• Multiplier Coverage
  • You can choose to multiply your base coverage by 2X, 3X or 5X  up to age 75 or 85.
  • Thereafter, the GB will decrease by 10% each policy year for five policy years and will remain at 50% after age 80 or 90 respectively.
• Intensive Care Unit Benefit
  • Receive an Intensive Care Unit (ICU) benefit if you are admitted to ICU for a minimum of 4 days due to sickness or injury
• Annual Income Payout Option
  • You can convert the accumulated cash value into annual income payouts
  • You can exercise this option from age 55
  • You can customize your payout term from 10 years till up to age 100
• Retrenchment Benefit
  • Enjoy 12 months of premium waiver should you be retrenched for more than 30 consecutive days before age 65
• No Interest Premium Deferment Option
  • You can defer premium payment for up to 12 months
  • You can exercise this option after 6 years or pay 6 full annual premiums
  • At the end of the deferment period, you just have to pay the outstanding premiums with no interest charged
• Lifestage Purchase Option
  • You can increase your coverage when you reach certain life milestones, no health checks required
  • Milestones e.g. tertiary education graduation, purchasing new home, having/adopting a child

• Critical Illness Riders; Cover yourself against up to 161 conditions of all stages
  • FWD Early CI Protection  Rider
    • Covers you for 142 Critical Illnesses of all stages, 15 Special & Mental conditions and 17 Juvenile conditions, and 1 Pre-early Cancer (covers 22 specified organs)
  • FWD CI Protection Rider
    • Covers you for 60 Late-stage Critical Illnesses
  • FWD CI Premium Waiver Rider
    • Waives premiums in the event of diagnosis of any of the covered Critical Illnesses
  • FWD Payer Premium Waiver Rider
    • Waives premiums of the policy insured should Death, TPD, or any of the covered CI occurs to the policyholder
      
      

Read About: Whole Life Policy: How does it work?

In-depth Review: 3 Best Whole Life Plans in Singapore for Insurance Coverages (Updated)

Features of FWD Life Protection at a glance

Cash and Cash Withdrawal Benefits
Cash value: Yes
Cash withdrawal benefits: No

Health and Insurance Coverage
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: No (Yes with riders)
Early Critical Illness: No (Yes with riders)

Health and Insurance Coverage Multiplier 
Death: Yes
Total Permanent Disability: Yes
Terminal Illness: Yes
Critical Illness: Yes
Early Critical Illness: Yes

Optional Add-on Riders
FWD Early CI Protection Rider
FWD CI Protection Rider
FWD CI Premium Waiver Rider
FWD Payer Premium Waiver Rider

Additional Features and Benefits
Yes

For further information and details, refer to FWD website. Alternatively, fill up the form below and let us advise accordingly.

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FWD Life Protection may be suitable if you are looking for

FWD Life Protection may potentially be a good fit if the following matters to you:

• Higher protection for Death, Total and Permanent Disability, and Terminal Illness coverage at an affordable premium.
• Higher Early Critical Illness, Critical Illness coverage with riders in an Insurance Policy.
• Health and Protection coverage due to a shortfall in your Insurance Portfolio.
• Accumulating cash value in the policy for financial returns in the long-term.
• Paying premiums only for a limited number of years and enjoying coverage for a lifetime.
  
  

Read About: How much insurance coverage do you really need in Singapore

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FWD Life Protection may not be suitable if you are looking for

FWD Life Protection may potentially be a bad fit if the following matters to you:

• Liquidity or flexibility of withdrawal in your Insurance policy.
• Access to cash from your policy on a regular basis.
• Insurance policy with a high surrender value in the early years of the policy.
• Potentially higher financial returns compared to a pure investment product.
  
  

In-depth Review: 4 Best Endowment Savings Plans in Singapore (Updated)

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Further considerations on FWD Life Protection

• How are FWD or FWD Life Protection investment returns based on historical performance?
• How does FWD Life Protection compare with Whole Life Policy from other insurance companies?
• Can FWD Life Protection fulfill my financial insurance, health, and protection needs?
  
  

The above information may not fully highlight all the product details and features of FWD Life Protection. Talk to us or seek advice from a financial adviser before making any decision about FWD Life Protection.

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Is FWD Life Protection suitable for me?