FWD Travel Insurance Review: Excellent Coverage For The Budget-Conscious Traveller

SingSaver team
Last updated Apr 27, 2022

If you’re going for reliable deals at the lowest price, consider FWD’s travel insurance policies. FWD’s policies are great for budget-conscious travellers and individuals who already have comprehensive insurance coverage.

FWD Travel Insurance is best in the market for currently having affordable single and annual trip travel insurance plans. FWD offers three tiers of travel insurance plans to cater for different levels of coverage for all kinds of travel destinations and trip durations. Prices start from as low as S$12 for single trip and S$238 for an annual worldwide travel plan.

Here’s everything you need to know about the FWD Travel Insurance policy:

Product summary

COVID-19 coverage: COVID-19 coverage is also now available as an add-on with their COVID-19 enhanced travel benefit. Key benefits include up to S$5000 for trip cancellation (within 30 days pre-trip) and up to S$200,000 in medical expenses during or after your trip, all due to COVID-19.

FWD SG app: Enjoy cashless medical outpatient treatment in Singapore, access to emergency assistance, and your travel policy documents through the FWD SG app. You can now also pay your premiums through PayNow, Grabpay and other seamless payment modes.

Car rental excess cover: Available as an add-on.

Insolvency protection: Claim this benefit if your trip is cancelled unavoidably before your scheduled departure date because the travel agent, transport provider, tour operator, and/or accommodation provider responsible for all or part of your trip is declared insolvent.

Fraudulent personal credit card use: Claim this benefit if unauthorised charges are made on your personal credit card(s) while on your overseas trip.

Sports coverage: Sports Equipment Protector is available as an optional add-on. Get up to S$2,000 coverage for your sports equipment being damaged or stolen, including up to S$100 per day for rental replacements.

Pros and cons

ProsCons
Full Terrorism CoverNo benefit claimable for losses of customer loyalty points used to pay for any part of your trip
Unlimited medical evacuation coverNo pre-existing conditions cover
FWD SG App for seamless paymentNo benefit payable for participation in sports activities as a professional or for financial reward
COVID-19 add-on coverage 

Policy exclusions

The list of exclusions for this policy include the following:

  • Pre-existing conditions (including mental, psychological, psychiatric disorders)
  • Travelling when medically unfit/against Medical Practitioner’s advice/for the purpose of seeking medical advice
  • Childbirth/pregnancy-related complications
  • Any sexually transmitted infections, Human Immunodeficiency Virus (HIV) or any HIV-related illnesses
  • No benefit claimable for losses of customer loyalty points used to pay for any part of your trip
  • Travelling against the advice of regulatory authorities/to a country at war
  • Items taken/destroyed by customs or other officials
  • Participation in sports activities as a professional or financial reward
  • Claims covered by other insurance

The full list of exclusions is available in the policy wording.

Types of plans

FWD provides three tiers of plans with different coverage levels and prices – Premium, Business, and First. For more details, please read the full list of benefits and exclusions in the policy wording.

Plan TypeCancellationMedical Coverage (Overseas)Bags/Belongings
PremiumS$7,500S$200,000S$3,000
BusinessS$10,000S$500,000S$5,000
FirstS$15,000S$1,000,000S$7,500

Add-Ons/Optional Riders: COVID-19 Cover, Car Rental Excess Cover, Sports Equipment Protector, Pet Care, Home Content Cover

FWD Premium Plan

FWD Premium Plan, with its near unbeatable low pricing, is good for travellers who are looking for bargain deals. In terms of travel inconveniences, FWD Premium Plan offers a benefit limit of up to S$150 for baggage delay (at S$150 for every six hours of baggage delay overseas and S$150 after six hours of baggage delay in Singapore). Personal accident coverage is up to S$200,000.

FWD Business Plan

If you plan to drive and rent a vehicle for a road trip, FWD Business Plan offers payment of rental car excess if you have an accident capped at S$500. In terms of baggage delay, the benefit limit is at S$600 (capped at S$150 for every six hours of baggage delay overseas and S$150 after six hours of baggage delay in Singapore). Personal accident coverage is up to S$300,000.

FWD First Plan

FWD First Plan is the one with the highest limit out of the three types of plans, with payment of rental car excess if you have an accident, capped at S$1,000, baggage delay benefit limit is at S$900 (payable at S$150 for every six hours of baggage delay overseas and S$150 after six hours of baggage delay in Singapore) and personal accident coverage is up to S$400,000. FWD First Plan is good for travellers who want a cheap price with a relatively decent amount of coverage.

COVID-19 add-on coverage

Since COVID-19 hasn’t magically disappeared from our lives, getting covered for COVID-19 is critical to protect ourselves and our loved ones. The COVID-19 enhanced travel benefit covers Single Trip Plans with travel periods of 90 days and less, from S$11.50. This is also available for Annual Trip plans with a duration of up to 90 days per trip.

With the COVID-19 add-on coverage, you get up to S$200,000 coverage for medical expenses relating to COVID-19 incurred after and during your trip. If you need hospitalisation, the plan also offers a reimbursement of S$100 per day during your trip or up to 14 days after you arrive back in Singapore.

On top of that, you’ll also be reimbursed up to S$5,000 for additional travel and accommodation costs if you could not go ahead with your trip (that starts in Singapore) because you were diagnosed with COVID-19 30 days before the trip started.

Pricing

We will look at pricing comparison across various plans (basic/ mid-tier/ top shelf) for both Single Trip and Annual Trip. All stated premiums are before discounts, if any.

Basic Plan

Trip TypeFWD Premium Plan
1 week AseanS$25
1 week Asia (including Australia and New Zealand)S$27
1 week WorldwideS$42
Annual AseanS$179
Annual Asia (including Australia and New Zealand)S$190
Annual WorldwideS$238

Mid-Tier Plan

Trip TypeFWD Business Plan
1 week AseanS$34
1 week Asia (including Australia and New Zealand)S$42
1 week WorldwideS$54
Annual AseanS$255
Annual Asia (including Australia and New Zealand)S$264
Annual WorldwideS$382

Top-Shelf Plan

Trip TypeFWD First Plan
1 week AseanS$44
1 week Asia (including Australia and New Zealand)S$53
1 week WorldwideS$73
Annual AseanS$281
Annual Asia (including Australia and New Zealand)S$296
Annual WorldwideS$428

FWD Travel Insurance Promotion:

Single/Annual Trip: Use promo code TRAVEL30 to get a 30% discount on your premium. Additionally, receive S$10 via PayNow when you apply for a min. premium of S$65. Valid till 22 May 2022. T&Cs apply.

How to make a claim

To make a claim, please call FWD Emergency Assistance at +65-6322-2072 or alternatively, click here to access their claims portal.


Protected up to specified limits by SDIC.

Note: This is only product information provided. You may wish to seek advice from a qualified adviser before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future healthcare needs.

If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.


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SingSaver team April 27, 2022 62679