Pan-Asian life insurer FWD Singapore has announced the launch of a new product aimed at encouraging the early detection of cancer called FWD Cancer 2.0 insurance. The enhanced online cancer plan is also designed for treatment that covers all stages of the disease, as well as non-cancerous tumour removal, a feature that was added after the insurer found that it was very much desired by Singaporeans. The plan can be purchased online with no medical examination required.
The launch of Cancer 2.0 also comes in line with FWD’s partnership with MiRXES, a leading RNA technology company that is making early cancer detection solutions more accessible on a global scale. The two companies have teamed up for FWD’s new offering of a free comprehensive health screening package called FWD-100 Cancer Screening. The package focuses on cancer early detection covering the two most common cancers affecting men and women: colon cancer for men and breast cancer for women. The package also includes GASTROClear, the world’s first molecular blood test approved for use in early detection of gastric cancer.
A report by the Singapore Cancer Registry Annual Report 2020 found that two in five Singaporeans are likely to get diagnosed with cancer at some point in their lives. It is also found to be the leading cause of death in Singapore. The report said that a low proportion of early-stage diagnoses was attributed as a potential contributing factor for high mortality rates for some cancers.
Early diagnosis and removal of non-cancerous tumours will help Singaporeans detect and treat cancer early, and in the process achieve better medical outcomes. The inclusion of non-cancerous tumour removal in Cancer 2.0’s coverage aims to encourage Singaporeans to take action early and seek early preventive measures without the need to worry about financials to seek treatment once those tumours are detected.
The Cancer 2.0 package covers early tumour to early-stage and late-stage cancer, with multiple payouts for new or recurring late-stage cancer. After the first claim for any stage of cancer, customers will continue to access coverage for new or recurring late-stage cancer and remain financially protected. This feature aims to provide added reassurance for recurring cancer which is another key concern that customers have.
Here are some of the features of Cancer 2.0’s comprehensive package:
Customers who purchase Cancer 2.0 may also receive additional support from the FWD Care Recovery Plan, a complimentary support program that provides additional recovery support for needs that go beyond the financial. The plan includes home assistance, counselling, home nursing care assistance, and more. Customers will also be provided help during their recovery period.
“In enhancing our cancer plan that we first introduced into the market in 2018, we looked deeper into how we can help Singaporeans better prevent cancer, which has been a leading cause of death in Singapore,” FWD Singapore CEO-designate Adrian Vincent said. “With Cancer 2.0, we’re pleased to offer the most comprehensive online cancer plan in Singapore, which provides our customers with greater peace of mind for cancer diagnosis, including for pre-early cancer, all stages of cancer, and new or recurring cancer.
“Through this partnership with MiRXES, we encourage Singapore residents to seek early preventive measures through early health screening, and ease of access to our Cancer 2.0 to further cover themselves in the event of an unfortunate episode,” Vincent said.
Dr Zhou Lilan, MiRXES CEO and co-founder, said that cancer detected early can be cured, and that the company’s partnership with FWD to launch Cancer 2.0 advocates preventive screening and early detection. “MiRXES’s purpose to alleviate cancer burden, save lives, and reduce healthcare costs through our accurate, noninvasive, and actionable miRNA blood tests, is well aligned with FWD’s goal of preventing cancer and safeguarding Singapore’s citizens,” he said. “Through this partnership with FWD, we hope to make preventive healthcare solutions accessible to more people by encouraging everyone to take an active approach to managing our health and mitigate cancer risks through regular health screening and insurance protection with FWD’s Cancer 2.0.”
FWD’s latest product comes at the heels of a study from the insurer that discussed Hongkongers’ and other GBA residents’ misgivings regarding the increase of medical expenditure for the next decade.
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