Looking for an affordable way to protect against the risk of having to pay full price for cancer treatments? FWD Cancer 100 will plug the gap nicely, at low cost to boot
Earlier this year, changes were made to healthcare subsidies for cancer care in Singapore. The Ministry of Health (MOH) published the Cancer Drugs List (CDL), which contains about 90% of the cancer drugs approved for use by the Health Science Authority.
Healthcare subsidies from MediShield Life, Integrated Shield Plans and MediSave can only be used for cancer treatments that are included on the CDL. Treatments on the CDL are not claimable, which means patients will need to pay full price.
To keep things in perspective, this doesn't mean that 10% of cancer patients will now be excluded from subsidised treatments. It simply means that if your treatment regime happens to include non-CDL drugs, you should consider discussing with your doctor for alternatives.
However, if your oncologist is of the opinion that the most effective drug for you would be a non-CDL one, you’ll need to pay higher prices for your treatment.
This is where plans like FWD Cancer 100 come in to help defray the cost of cancer treatments with non-CDL drugs.
How does this plan work exactly, and who is it made for? Let’s find out.
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What can FWD Cancer 100 do for you?
- Type of plan: Cancer supplementary for non-CDL treatments
- Sum assured: S$50,000, S$100,000 or S$150,000
- Premiums: Annual or monthly payments
- Renewable up til: yearly, up till age 100
- Suitable for: extra funds to pay for non-subsidised cancer drugs
- Death benefit: Covered
- Purchase options: Cash
Pros and cons of FWD Cancer 100
Lump-sum payment to help defray cost of non-subsidised cancer treatments
Restricted only to non-subsidised cancer drugs and treatments
Highly affordable premiums
Maximum coverage of S$150,000
Complimentary cancer consultations and treatments up to S$6,000
90-day waiting period
Free teleconsult and preferred GP and dental rates for you and your family members
Key features of FWD Cancer Insurance
#1. Up to S$150,000 for non-CDL cancer drugs
FWD Cancer 100 provides a lump-sum of up to S$150,000 to help pay for cancer drugs that are not on MOH’s Cancer Drug List.
It covers cancer of all stages (with exceptions, see below), and the benefit is only paid out should your treatment involve non-CDL drugs.
Note that both conditions must be satisfied – a cancer diagnosis, and requirement for non-CDL drugs. If your condition is assessed to be treatable with a CDL drug, your claims will likely be rejected.
For this reason, it is important to note that FWD Cancer 100 should not be your primary cancer plan. Rather, it is meant to act as a supplementary plan that provides extra funds should you happen to require non-CDL treatments – this may be quite a rare occurrence.
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#2. Highly affordable premiums
For what it’s meant to do, FWD Cancer 100 is fairly priced. A 35-year-old female non-smoker can expect to pay S$15.55 per month, before discounts, for S$150,000 sum assured.
The plan becomes even more of a bargain when you realise that there are zero deductibles and co-insurance, so you’ll enjoy 100% of your payout.
On the flip side, the low premiums also hinder how much coverage you can get. This plan offers S$50,000, S$100,000 or S$150,0000 in coverage – which is just about right for its role as a supplementary plan.
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#3. Complimentary cancer services
As a policyholder, you can also avail yourself of a limited suite of complimentary cancer services.
You can make use of up to S$6,000 worth of cancer consultations and treatments from FWD’s appointed service provider. Additionally, you can also receive free second medical opinion and cancer concierge services to help you with your treatment.
Note that these benefits are available even if you do not require non-CDL treatments.
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#4. Healthcare benefits that your family can also enjoy
FWD Cancer 100 comes with FWD HealthFirst, a value-added service offered to all healthcare policy holders.
This includes some nifty benefits, including free tele-consultations with medical professionals, and preferential rates for GP and dental consultations. Best of all, your family members are also entitled to these benefits.
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Who should get FWD Cancer 100?
As explained, FWD Cancer 100 is designed as a supplementary cancer care plan – one that is specifically targeted at those who are wary of having to pay full price for cancer treatments.
While those who find themselves in this unfortunate situation would definitely prefer having more resources, the utility of the plan is somewhat limited due to its cap of S$150,000.
Given these factors, FWD Cancer 100 perhaps best serves the needs of those who are averse to gaps in their cancer protection portfolio.
But before you rush to sign up, don’t forget that there are also IP riders that offer higher coverage for non-CDL treatments, along with higher caps for drugs that are on the CDL. These plans are more well-rounded, but cost more in premium.
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Important exclusions to note
We’ve highlighted some notable exclusions in FWD Cancer 100. For the full details and definitions, be sure to consult the policy wording.
The policy will not pay out in the event of
- Cancer diagnosis made within the waiting period of 90 days
- Claims arising from suicide, attempted suicide or an intentional self-inflicted act, within one year from the start of the coverage start date or last reinstatement date, whichever is later
- Claims arising from participation in unlawful acts
- If any pre-existing conditions were present
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How to claim?
If you need to make a claim under your FWD Cancer 100, here’s what you should do.
Make a claim online
You can submit your claim online at FWD’s website. Simply fill in the relevant information and follow the on-screen prompts.
Email or call FWD
You can also contact FWD for your claims or if you have questions.
- Tel: +65 6820 8888
- Email: email@example.com
For more information
If you have other queries, you may want to look up the Help Centre for some answers.
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