3 reasons why you should consider FWD Life PA

2 min read

4 October 2024

Life is full of surprises. Some not so welcomed such as accidents requiring further medical attention, and some may even come with a big price tag. How are you prepared for the unexpected?

You have health insurance, did you say?

Do you know that most health insurance plans may not cover outpatient treatment expenses? A typical health insurance plan may also not cover sports-related injuries that require chiropractor, traditional Chinese medicine (TCM) or physiotherapy treatment.

While you may be relying on employer-furnished insurance benefits, you may also lose the coverage for outpatient treatment expenses when you leave the company.

So, what are your options if you are looking for financial cover for accident-related treatment expenses?

Consider a personal accident (PA) plan like FWD Life PA and enjoy affordable coverage, starting from just S$0.47 per day¹.

What is FWD Life PA?

FWD Life PA is a personal accident insurance plan that provides coverage to up to 3X the sum insured for accidental death and disability during the policy term. It also covers medical expenses for both inpatient and outpatient treatments. It even provides coverage up to 2X the sum insured if accidental death and disability happens to a person insured who is on a personal mobility device (PMD). To ensure you and your loved ones receive the best support, we will also pay an additional 10% of sum insured as a Compassionate Grant. From start to end, you can be assured that we will provide the support you need.

Why FWD Life PA?

It is commonly believed that children and seniors are more susceptible to personal accidents. FWD Life PA offers cover for a child as young as one day old to a senior up to age 70 with guaranteed* renewability till age 100. This policy literally covers one for the whole life.

As life expectancy increases with medical advancements, the need for personal accident coverage is even more now than ever².

At FWD, we believe that you and your loved ones deserve peace of mind, regardless of age and life stage.
Here are three reasons why FWD Life PA – a unique personal accident insurance plan may suit your lifestyle needs.

1) Guaranteed renewability till age 100

FWD Life PA , including all riders (if applicable) will be renewed automatically till age 100, as long as premiums are paid.

You may consider including your parents in the policy before they turn age 70 and renew their coverage up till age 100, thereby giving them financial protection for the whole life!

You may also look to give your children a head start in having comprehensive personal accident coverage that can also financially protect them well into their golden years.

2) Lifetime 10% no claim discount (NCD)

We know that every dollar saved can go a long way for you. Enjoy a 10% perpetual discount on the total premiums under the policy (including all riders, if applicable) if no claim has been admitted under the policy for three consecutive years. The NCD will be applied automatically from the next policy anniversary, as long as the policy is renewed yearly.

These savings can go a long way, especially if you are purchasing multiple FWD Life PA plans for yourself and your loved ones. Premiums for a senior may be higher at first, but with the NCD, FWD Life PA plans may still be cost-effective for your parents.

3) Comprehensive coverage

FWD Life PA offers you and your loved ones comprehensive coverage in the event of personal accidents.

Here are some benefits that make FWD Life PA unique:

Benefits	Description
Accidental Death and Disability Benefit (ADDB)	Lasts till age 100
Double Indemnity on Accidental Death and Disability Benefit	Receive double the benefit amount under the ADDB if the accidental death or permanent disability was sustained while the person insured was using a personal mobility device (PMD), or as a passenger on public transport, or as a passenger or driver in a private transport. The Double Indemnity on Accidental Death and Disability Benefit even covers person insured(s) under the age of 18 accidental death or permanent disability is sustained within school premises on a school day, and much more.
Triple Indemnity on Accidental Death and Disability Benefit	Receive triple the benefit amount under the ADDB if the accidental death or permanent disability was sustained while the person insured was travelling as a fare-paying passenger on a commercial plane or on a cruise ship (with at least a night’s stay on board the cruise ship) operated by a licensed operator.
Compassionate Grant Benefit	Your family will be paid a one-time additional 10% of the ADDB sum insured, in one lump sum.
Chinese physician, acupuncturist, bonesetter and chiropractor expenses (per accident)	Up to S$100 per visit. Up to S$1,500 coverage per policy year.Enjoy 100% coverage up to age 80.
Medical Expenses for Inpatient & Outpatient Treatment Benefit (per accident)	Enjoy coverage of up to S$4,000 till age 80.
Daily Hospital Income Benefit and Weekly Income Benefit (applicable for Income Support Rider only)	Enjoy up to S$300 of Daily Hospital Income Benefit for up to 365 days per accident. You can also enjoy up to S$350 of Weekly Income Benefit (up to 104 weeks per accident). Even children (aged 21 and under, as included in a family policy), unemployed persons or senior citizens aged 80 and above can enjoy a level of coverage under the Daily Hospital Income Benefit and Weekly Income Benefit* too.

For more details on the benefits, you may refer to the policy contract.

What is the Income Support Rider?

Income Support Rider provides the following benefits:

Daily Hospital Income Benefit: If the person insured is hospitalised due to an accident, we will give the Daily Hospital Income Benefit for each day of hospitalization.
Weekly Income Benefit: If a person insured is hospitalised and is diagnosed by a medical practitioner with having a temporary total disability as a result of the accident, we will pay the Weekly Income Benefit.

These are the benefits of the 3 tiers of Income Support Rider:

3 tiers of Income Support Rider

As mentioned earlier, you and your loved ones can enjoy benefits of this rider up to age 75. Even your children and parents can enjoy the rider income benefits as specific individuals mentioned in the benefits table. The Income Support Rider is especially beneficial for platform workers or freelancers who may risk affecting their income should they be unable to work or are hospitalised due to an accidental injury.

Ultimately, these two benefits can help supplement your income should you be unable to work due to an accidental injury. Even if you are unemployed, you get to enjoy the benefits of the Income Support Rider as well****.

What is the Catch-All Rider?

Most PA plans cover you for outpatient treatments, and severe accident events, such as death or total and permanent disability. But what happens if you sustain an accidental injury that may require an Intensive Care Unit (ICU) stay? The Catch-All Rider ensures that even in such an event, you can be assured that we’ve got you covered.

By adding this rider, you will receive an additional 10% of the ADDB sum insured if an accident results in sustaining an injury requiring a stay at the ICU for 120 or more consecutive hours with the use of invasive life support. Have peace of mind and live life confidently, knowing you will be covered regardless of the cause of accident.

How does FWD Life PA work?

Tailor your personal accident insurance coverage according to your needs and pay only for what you want. Choose from 3 tiers of sum insured base plan and attach optional riders to enhance your coverage.

Here is how FWD Life PA works:

1) Choose from 3-tier sum insured options with benefits shown as follows:

3-tier sum insured options with benefits.

2) If you would like to enhance your base plan coverage, you may opt for additional riders.

There are 2 riders that you can choose from

Income Support Rider
Catch-All Rider

This plan offers you the flexibility to customise a plan that meets your unique needs. You may select a base plan of sum insured $100,000 and enhance it with Income Support Rider Plan C.

How can FWD Life PA support you in an emergency when you travel for work or holidays?

FWD Life PA provides 3X of your selected sum insured in the event of death or total and permanent disability caused by an accident when travelling on a commercial airplane. This can complement your FWD Travel insurance that covers other aspects for your globe-trotting adventures.

The PA plan made for life, for you and your loved ones

With its unique comprehensive benefits and flexibility, you and your loved ones can enjoy peace of mind well into your golden years while enjoying lifetime cost-savings through the 10% NCD.

Learn more about FWD Life PA from your financial adviser representative and get covered within minutes.

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*Exceptions may apply. In compliance with laws, regulations and requests of relevant authorities in the areas of sanctions, anti-money laundering and counter-terrorism financing, we may take steps that include ending your policy and related cover, as well as treating premiums paid and amounts payable under your policy, in any manner we deem appropriate.

**The limit for Daily Hospital Income Benefit will be halved as shown in the table above, for the following groups of persons insured: (i) Children (a child that is age 21 and under, as included in a family policy), (ii) unemployed persons, and (iii) persons aged 80 and over.

*** The Weekly Income Benefit will expire when the person insured turns age 75. The limit for the Weekly Income Benefit will also be halved as shown in the table above, for the following groups of persons insured: (i) Children (a child that is age 21 and under, as included in a family policy), and (ii) unemployed persons.

****Please refer to the Policy Schedule for the exact benefit amount you are entitled for.

<sup>1</sup>Female, Non-smoker, aged 18 with sum insured of S$100k for a yearly renewable term.
<sup>2</sup>https://www.singstat.gov.sg/find-data/search-by-theme/population/death-and-life-expectancy/latest-data

This article contains only general information and does not have any regard to the specific investment objectives, financial situation and the particular needs of any specific person. This shall not constitute as financial advice. You may wish to seek advice from a financial adviser representative for a financial needs analysis before purchasing a policy suitable to meet your needs.

This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the LIA or SDIC websites (http://www.lia.org.sg/or http://www.sdic.org.sg/).

Information presented shall not be distributed, modified, transmitted, reused, reposted, or be used for public or commercial purposes, including the text, images, audio, and video without the consent from FWD Singapore Pte. Ltd. This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is correct as of 03 October 2024.