How to choose the right critical illness insurance plan for yourself

No matter which, choosing the right critical illness (CI) plan boils down to two important things – assessing your needs and finding a plan that best addresses them. But with multiple options in the market, you might be wondering: how do I know which CI plan matches my needs?

To help you out, we’ve narrowed down a few groups of people who could benefit most from a standalone CI insurance plan, like that of FWD’s Big 3 Critical Illness insurance.

So if you’re thinking of getting a CI cover but not sure where to start, here’s why a standalone CI plan could be right for you.

1. Young adults with a limited budget

Most of you would agree that CI coverage is important, but we understand that not everyone may have the luxury to splurge on it.

The good news is that you don’t have to. There are ways to secure a CI coverage that fits your budget, so you don’t have to skimp on it altogether.

If you’re a fresh graduate or new working adult, you can enjoy lower premiums by getting a CI plan while you’re young. With fewer liabilities, a standalone CI plan can also provide you with the coverage you need at this stage of life at a price you can comfortably afford.

For example, you can get S$50,000 coverage from as low as S$18 a month¹ with FWD Big 3 Critical Illness insurance and all it takes is one simple online health declaration.

2. Working adults with new/several dependents

Working adults with young children, elderly parents, or both, would be familiar with the unspoken financial responsibilities of supporting their loved ones.

If this sounds a lot like you, you may already have considered the implications on your dependents if something unfortunate happens to you. In fact, you could already have purchased protection plans for yourself.

In this case, now may be a good time to relook your existing coverage to ensure that it matches your financial responsibilities and dependents, especially if you recently took ones. At this point, a standalone CI plan would be a cost-efficient complement to your existing CI coverage or life insurance policy.

And if you’re concerned about the costs, you’d be relieved to know that the premiums for FWD Big 3 Critical Illness insurance starts from as low as 1/3 the price of a regular CI plan², making it a perfect alternative to top-up your CI coverage for common illnesses without busting your budget.

3. People with a family medical history of specific illnesses

The upside of certain standalone CI plans is that they can offer targeted coverage for specific illnesses that you may be genetically predisposed to.

Instead of getting a typical CI insurance which covers all 37 CIs (some of which you may never have heard of before), a targeted cover could be an affordable alternative or complement especially if you know what to look out for.

FWD Big 3 Critical Illness insurance, for example, provides coverage for the three illnesses that make up 90% of all CI claims – Cancer, Heart Attack and Stroke.³ This would make it a sensible choice for people who have a family history of these 3 specific illnesses.⁴

And if you’ve witnessed first-hand the challenges faced by your loved one in battling one of these illnesses, chances are you’d want to protect yourself financially against them too for that extra peace of mind and assurance.

Finding the plan that’s right for you

Standalone CI plans offer a multitude of benefits and could be beneficial for almost anyone, whether as a starting plan on its own or a complement to your existing coverage.

While no CI plan is perfect, FWD makes CI coverage simple, convenient and easy-to-understand so you’re not bogged down by complicated definitions and costly premiums.

Get covered for Heart Attack, Stroke, and all stages of Cancer with FWD Big 3 Critical Illness insurance and enjoy a 100% payout upon a claim so you can focus on your recovery while ensuring that your financial commitments and loved ones are well taken care of.

All it takes is one simple health declaration without any medical examination and you can easily purchase our FWD Big 3 Critical Illness insurance online. Learn more about FWD Big 3 Critical Illness insurance.

Learn more about critical illnesses by reading our other articles below.

• What you need to know about critical illness
• Do critical illness plans give you the best protection against top critical illnesses like cancer?