Financial News and Advice in Singapore

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

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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

FWD SG app: Enjoy cashless medical outpatient treatment in Singapore, access to emergency assistance, and your travel policy documents through the FWD SG app.

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 Cover

Unlimited medical evacuation cover

FWD SG App
No benefit claimable for losses of customer loyalty points used to pay for any part of your trip

No pre-existing conditions cover

No benefit payable for participation in sports activities as a professional or for financial reward

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: 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.

Pricing

We will look at pricing comparison across various plans (basic/ mid-tier/ top shelf) for both Single Trip and Annual Trip. FWD stands out for being below industry average for all categories, in terms of pricing!

Basic Plan

Trip TypeFWD Premium PlanIndustry Basic Plan Average
1 week AseanS$27S$26
1 week Asia (including Australia and NZ)S$29S$32
1 week WorldwideS$43S$46
Annual AseanS$179S$149
Annual Asia (including Australia and NZ)S$190S$208
Annual WorldwideS$238S$282

Mid-Tier Plan

Trip TypeFWD Business PlanIndustry Mid-Tier Plan Average
1 week AseanS$39S$33
1 week Asia (including Australia and NZ)S$44S$41
1 week WorldwideS$58S$59
Annual AseanS$255S$206
Annual Asia (including Australia and NZ)S$264S$242
Annual WorldwideS$382S$332

Top-Shelf Plan

Trip TypeFWD First PlanIndustry Top-Shelf Plan Average
1 week AseanS$49S$47
1 week Asia (including Australia and NZ)S$56S$58
1 week WorldwideS$77S$80
Annual AseanS$281S$269
Annual Asia (including Australia and NZ)S$296S$310
Annual WorldwideS$428S$430

FWD Travel Insurance Promotion:
Single Trip: Use promo code FATHERSDAY to get 25% off your premium
Annual Trip: Use promo code FATHERSDAY to get 20% off your premium

Valid from 14 – 22 June 2021. 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 are 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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