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FWD insurance has recently launched their first whole life insurance plan in Singapore - FWD Life Protection.


FWD Life Protection combines all the best features from various insurers’ whole life insurance into FWD Life Protection to offer you a comprehensive and unmatched protection. As such, we find that FWD Life Protection to be one of the best whole life insurance in Singapore. In this review, we will delve into the key aspects that set FWD Life Protection apart from the rest.


FWD Life Protection at a glance


FWD Life Protection is a limited premium payment whole life participating insurance policy that offers coverage for Death, Terminal Illness and Total and Permanent Disability. The plan provides the insured the insured to receive higher protection coverage with their Life Protection Booster by multiplier the base sum assured to a factor of 2X, 3X or 5X till the age of 75 or 85.


FWD Life Protection also offers the following rider to supplement your coverage:

1. FWD CI Protection Rider

2. FWD Early CI Protection Rider

3. FWD CI Premium Waiver Rider


Feature 1: Life Protection Booster - Multiplier Benefit which is the highest in the market


FWD Life Protection provides a high level of insurance protection with its unique Multiplier Benefit. This feature guarantees a sum assured amount that the insured will receive upon making a claim due to Death, Total and Permanent Disability, Terminal Illness, or Critical Illness. 


The Multiplier Benefit coverage is available until the insured reaches the age of 75 or 85 years old (which is the highest in the market along with China Taiping’s I-secure Legacy II). 


The policyholder can select a Multiplier Factor of 2x, 3x or 5x, allowing them to customize their coverage to meet their specific needs. Additionally, the Life Protection Booster will only reduce gradually by 10% each policy year for 5 policy years after the Multiplier age is reached, ensuring that you receive the maximum coverage even after reaching your selected Multiplier age. 


Feature 2: Comprehensive Coverage - Critical Illness Benefit Rider


FWD Life Protection offers comprehensive coverage through its FWD CI Protection Rider. This rider provides financial protection against 60 Advanced Stages of Critical Illnesses.


Feature 3: FWD Early CI Protection Rider – Total of 175 conditions covered


FWD Early CI Protection Rider provides financial protection against 60 different Critical Illnesses for all stages. 


FWD Early CI Protection Rider also offers protection against 12 special conditions, 3 mental conditions and 17 Juvenile conditions. The Special and Juvenile Benefit pays 20% of the rider sum insured, capped at S$25,000.


Additionally, the rider also provides Intensive care unit benefit of 20% of sum assured (capped at S$25,000) if the insured is admitted into ICU for a period of 4 consectuive days, and also pre-cancer benefit of 20% of sum assured (capped at S$25,000) in the event the insured is diagnosed with a benign tumour and subsequently undergoes surgical excision of a benign tumour, or is diagnosed with a borderline malignant tumour.


Feature 4: Premium flexibility with Retrenchment Benefit and Premium Deferment Option


With retrenchment benefit, if the policyholder is retrenched and remain unemployed for at least 30 consecutive days (before you turn age 65), FWD will waive the premiums payable (including the premiums for all attached riders) for 12 months, starting from the next premium due.


With Premium deferement option, the policyholder can request to defer the premium for 12 months at any time after 6 years from the policy issue date, At the end of the premium deferment period, you have to pay the outstanding premiums without interest.


Feature 5: Annual Income Option 


The policyholder can choose to receive an annual income to supplement their retirement when they turn 55 or at the premium end date, whichever is later. 


FWD will give  an additional 10% of chosen Surrender Value utilisation if you choose to exercise the annual income option. You may choose to utilise between 10% to 80% of the Surrender Value, and receive an annual income of 10 years, or until you turn age 100.




In summary, FWD Life Protection features makes a strong contender as the best whole life insurance in Singapore. Their Life Protection Booster - Multiplier Benefit, comprehensive early critical illness coverage are key features that set FWD Life Protection one of the best whole life insurance in Singapore. 


If you are looking for whole life Insurance recommendations, do speak to our partnered Financial advisors to compare and recommend the best for you.


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