FWD Flex Insurance Review (2024): Low-cost Coverage for Top 3 Critical Illnesses for Singaporeans

Alevin Chan

Alevin Chan

Last updated 15 August, 2023

FWD Flex Insurance offers budget-friendly coverage for the top three critical illnesses in Singapore – but not everyone may find it to be the best fit for their needs. Find out more about this policy, how it works, and what to consider before signing up.

Critical illness insurance is a type of health insurance that provides a payout upon a confirmed diagnosis of a serious medical condition.

In Singapore, there are a total of 37 diseases recognised as critical illnesses, but did you know that only three of these account for over 90% of all critical illness claims in Singapore?

It’s true; according to the Gen Re Dread Diseases Survey published in 2022, cancer, heart attack/other heart conditions and stroke account for 88% of critical illness claims for men, and 91% of the claims for women.

What this means is that consumers looking for more value-for-money may choose to focus on plans that focus on cancer, heart attack and stroke. Some may also opt to strengthen their coverage for these three conditions.

And that’s where FWD Flex Insurance comes in. This is a standalone 3CI plan that offers up to SS$40,000 coverage for these exact three critical illnesses. But how does it work, and who is it actually designed for?

Related to this topic: Cancer Insurance Comparison: MSIG vs FWD vs Tiq

What can FWD Flex Insurance do for you?

Product summary

  • Type of plan: 3CI (cancer, heart attack and stroke only)
  • Sum assured: S$20,000, S$30,000 of S$40,000
  • Premiums: Annual or monthly payments
  • Renewable up til: 55
  • Suitable for: coverage for 3 cancer of all stages, severe heart attack, severe stroke
  • Death benefit: Covered
  • Purchase options: Cash

Pros and cons of FWD Flex Insurance



Highly affordable plan for top 3 critical illnesses in Singapore

Maximum sum assured capped at S$40,000

Covers cancer at all stages

Renewable until age 55 only

No medical check-up necessary, annual automatic renewal

90-day waiting period

Key features of FWD Flex Insurance

#1. Budget-friendly plan for protection for against top 3 critical illnesses

Perhaps the most favourable feature of FWD Flex is its affordability. This is an attractively priced 3CI plan that covers you for cancer, heart attack and stroke – three serious medical conditions that account for a large majority of all critical illness insurance claims in Singapore.

Hence, this is a budget-friendly option for those looking for more protection in this area – but only for a smaller subset of users; primarily younger individuals who do not need high levels of protection.

See the next section for a more detailed discussion.

#2. Covers cancer of all stages

It is worth noting that FWD Flex covers cancer of all stages. This means that upon confirmation of a cancer diagnosis by a qualified authority, you will be able to claim for your payout.

This goes no matter which stage your cancer is at – even the early stages – and you will receive 100% of the sum assured.

However, do note that this policy has a waiting period of 90 days, which means you will not be able to receive your benefits if a diagnosis of cancer (or heart attack or stroke) was made within the first 90 days from the start of your coverage.

#3: No medical check-up required, yearly auto renewal

Signing up for this plan is about as easy as it gets.

All you have to do is to make an online declaration when purchasing for your plan, no medical checks necessary.

After your plan has been issued, you are entitled to automatic yearly renewals without further medical underwriting. This will continue until you cancel the policy or the benefits pay out.

Note that you will not be allowed to reinstate this policy if you choose to cancel the plan.

Related to this topic:

Best Critical Illness Insurance Plans In Singapore

Who should get FWD Flex Insurance?

FWD Flex Insurance is among one of the most affordable critical illness plans available. However there are two trade offs you should be aware of.

Firstly, the maximum sum covered under this plan is only S$40,000. This may not be sufficient for those with dependants, or whose lifestyle requires a larger sum-in-replacement.

Secondly, as explained earlier, this plan is a 3CI plan that only covers you for three conditions – cancer (all stages), heart attack of specified severity, and stroke with neurological deficit. The other 34 conditions recognised as “critical illnesses” are not covered under this plan.  

Furthermore the terms “of specified severity” and “with neurological deficit” means that milder cases of heart attack and stroke respectively may also not be claimable.

Still, some protection is better than none at all. Taken in the right context, FWD Flex is a worthy option for those seeking budget-friendly coverage against the top 3 critical illnesses in Singapore, who may not need very high coverage sums.

Another possible reason to get this plan is as a supplementary plan to boost your coverage for cancer, heart attack and stroke. However, mind the age limit of 55. .

Important exclusions to note

We’ve highlighted some notable exclusions in FWD Flex. For the full details and definitions, be sure to consult the policy wording.

The policy will not pay out in the event of

  • Suicide, attempted suicide, or intentional self-inflicted act
  • Claims arising from participation in unlawful acts
  • If any pre-existing conditions were present
  • Onset of covered conditions within first 90 calendar days of the coverage start date

How to claim?

If you need to make a claim under your FWD Flex, 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: contact.sg@fwd.com

For more information

If you have other queries, you may want to look up the Help Centre for some answers.

An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.


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