FWD Singapore has announced the launch of a new cancer plan designed to cover for unexpected situations where cancer treatments outside of the official Cancer Drug List (CDL) is necessary.
Called FWD Cancer 100, the plan offers a 100% lump-sum payout of the sum insured to customers when they are diagnosed with major cancer and subsequently undergo the recommended cancer treatment beyond the CDL. Earlier this year, the country’s Ministry of Health (MOH) implemented changes to cancer drug treatment financial for integrated shield plans (IPs) which aim to keep treatments and insurance premiums affordable in the long term.
The plan gives policyholders the financial freedom to choose the treatment that works for them, even if it is outside the CDL. It is also easily accessible online, and customers can get more information from more than 3,000 independent financial adviser representatives. FWD Cancer 100 is also the insurer’s response to a growing trend of patients seeking a second opinion before undergoing medical treatment, especially for cancer.
With the product’s launch, individuals diagnosed with major cancer are offered complimentary medical second opinion consultations on their condition as well as available treatment plans. FWD will shoulder the cost for consultations and treatments up to SG$6,00, subject to sum insured, without reducing the sum insured of their FWD Cancer 100 policy.
The insurer also announced its partnership with Icon Cancer Centre to provide cancer care services to customers. With it, policyholders can receive holistic and evidence-based care and guidance in their cancer treatment journey.
“We are offering individuals the option to be covered for non-CDL treatments through our FWD Cancer 100, the first standalone plan in market that specifically pays out 100% for treatments under the non-CDL for just S$10 to S$20 a month. With FWD Cancer 100, we hope to empower these individuals, so they have every chance of recovery,” FWD Singapore CEO Adrian Vincent said.
Recently, FWD Group also revealed the rebranding of its acquired Malaysian life insurance business as well as the new CEO who will take on the reins.
What are your thoughts on this story? Please feel free to share your comments below.
