SINGAPORE — FWD Insurance Singapore has unveiled FWD MultiCover CI, a new critical illness plan engineered to deliver multi-stage, recurring payouts rather than terminating upon an initial claim.
The product introduction reflects changing healthcare dynamics across the nation. Official statistics show Singapore’s five-year cancer survival rate rose from 53% (2008–2012) to 61% (2019–2023), while overall cancer mortality declined from 91 to 72 deaths per 100,000 individuals over the same period. With individuals living longer post-diagnosis, the insurer aims to help policyholders manage extended income loss, long-term caregiving expenses, and ongoing recovery needs.
“For many families, the financial impact does not end with the first diagnosis,” said Adrian Vincent, Chief Executive Officer of FWD Insurance Singapore. “FWD MultiCover CI was created to reflect the realities of today’s critical illness journeys.”
Comprehensive Benefit Structure
The plan spans 166 medical conditions across early, intermediate, and late stages, allowing policyholders to claim up to 900% of the total Sum Insured across all available options:
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Core Critical Illness Benefit: Supports up to 6 claims capped at 600% of the Sum Insured (100% payout for early/intermediate stages, 200% for late stages), with a mandatory 1-year waiting period between claims.
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Booster Benefit: Supplies an additional 150% payout per claim for specified late-stage conditions or recurrences (capped at 2 claims / 300% maximum), requiring a 2-year waiting period.
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Accelerated Care Option: Permits policyholders diagnosed with a late-stage illness to select an immediate 75% upfront payout instead of retaining future booster eligibility.
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ICU Benefit: Offers a two-tiered payout up to 120% of the Sum Insured for critical hospital stays, extending coverage even if the underlying condition is not explicitly listed in the policy.