Critical illness (CI) insurance provides a lump sum payout if you're diagnosed with a covered critical illness, helping to replace lost income, cover medical expenses, or support your family's financial needs while you focus on recovery.

Thanks to significant advances in medical technology and treatment, survival rates for many critical illnesses have improved considerably. While this is encouraging, it also means that more people are living long enough to face the possibility of a recurrence or even a different critical illness later in life.

Traditional critical illness insurance is designed to pay out only once, after which the policy usually ends. However, a single payout may not always be sufficient if multiple critical illnesses occur over a lifetime.

This is where Multi-pay critical illness insurance comes in. Multipay critical illness insurance provides multiple payouts for separate critical illness claims, providing ongoing financial protection throughout different stages of life.

FWD MultiCover CI is a critical illness insurance plan that offers protection against different stages of critical illnesses and allows multiple claims.

It covers up to 900% of sum assured across multiple claims for early, intermediate, late state and recurrent critical illness.

It also provides additional benefits such as Intensive Care Unit Benefit, Severe Intensive Care Unit Benefit, Special Benefit, Juvenile Benefit, Death Benefit and Accelerated Care Option.

• Flexible Coverage: Available as a standalone plan, with coverage terms from 5 years up to age 100, adjustable in one-year intervals.

• Early, Intermediate Critical Illness: Pays 100% of the Sum Assured for Early, Intermediate Critical Illness, claimable up to 6 times with a one-year waiting period between different CI claims.
• Late stage Critical illness: Pays 200% of the sum assured (less any claim paid for early/intermediate stage of the same critical illness)

• Extensive Coverage: Covers up to 166 critical illness conditions across Early, Intermediate, and Severe stages, providing the most comprehensive critical illness coverages in the market.

• Premium Waiver: Premiums are waived upon diagnosis of the first Severe Stage Critical Illness, ensuring continued coverage without financial strain.

• Accelerated Care Option: Offers an additional 75% of the SA upon the first Severe Stage Critical Illness diagnosis for eligible conditions (e.g., Major Cancer, Heart Attack, Stroke). Exercising this option terminates the Critical Illness Booster (recurrent) Benefit.

• Critical Illness Booster (recurrent) Benefit: Pays 150% of sum assured per claim (up to 2 claims) for specified recurrent Severe Stage Critical Illnesses, such as re-diagnosed Major Cancer, recurrent Heart Attack, recurrent stroke, with a two-year waiting period between claims. You can make up to 2 claims under this benefit, with a maximum total payout of 300% of the Sum Insured.

• Special Benefit: Provides an additional 20% of SA (up to S$25,000) upon diagnosis of any of the 22 covered conditions, enhancing financial support for specific health events.

• Intensive Care Unit Benefit: Offers an additional 20% of SA (up to S$25,000) if the insured is admitted to the ICU for 4 days or more due to illness or accident in one hospital admission.

• Severe Intensive Care Unit Benefit: Pays 100% of sum assured if the person is admitted into Intensive care unit for 5 consecutive days. Payout under this Severe ICU benefit does not reduce the sum assured.

Choosing the right critical illness insurance is about more than just the initial payout - it is about ensuring you have adequate financial protection throughout your recovery journey. As medical advancements continue to improve survival rates, the possibility of facing multiple critical illness claims over a lifetime has become increasingly relevant.

FWD MultiCover CI is designed with this reality in mind. Its multiple-claim structure, comprehensive stage-based coverage, premium waiver benefit, and additional features such as ICU provide policyholders with broader protection compared to many traditional critical illness plans.

Ultimately, the suitability of any critical illness plan depends on your age, budget, existing insurance coverage, and long-term financial goals. Comparing different multi-pay critical illness plans and understanding their benefits and limitations can help you make a more informed decision.

If you're unsure whether FWD MultiCover CI is suitable for your needs, speaking with a licensed financial adviser can help you evaluate your options and select a plan that best complements your overall financial and insurance strategy.