FWD launches MultiCover CI as cancer survival reaches 61%

Mortality declined to 72 deaths per 100,000 people during 2019 to 2023.

FWD Singapore has launched FWD MultiCover CI, a new critical illness policy designed to provide ongoing payouts rather than terminating after the first claim.

The product launch comes as national figures show Singapore’s five-year cancer survival rate rose from 53% in 2008 to 2012 to 61% in 2019 to 2023. 

Over the same period, cancer mortality dropped from 91 to 72 deaths per 100,000 people. 

With patients living longer post-diagnosis, the insurer aims to help families cover long-term income loss, caregiving expenses, and prolonged recovery costs.

"For many families, the financial impact does not end with the first diagnosis," said Adrian Vincent, CEO of FWD Insurance Singapore. "FWD MultiCover CI was created to reflect the realities of today’s critical illness journeys,”

The policy covers up to 166 medical conditions across early, intermediate, and late stages. Depending on specific condition limits, policyholders can claim up to a total of 900% of their Sum Insured across all benefits.

Under the core Critical Illness Benefit, customers can make up to six claims totaling 600% of the Sum Insured, with a one-year waiting period between claims. 

Early and intermediate stages pay out 100% of the Sum Insured, whilst late-stage diagnoses pay 200%.

For specified late-stage illnesses or recurrences, a Booster Benefit offers an additional 150% of the Sum Insured per claim for up to two claims, subject to a two-year waiting period. 

Customers facing late-stage diagnoses can also select the Accelerated Care Option to receive an immediate 75% payout instead of keeping the booster benefit for future recurrences. 

Additionally, a two-tier Intensive Care Unit benefit provides payouts up to 120% of the Sum Insured for severe hospital stays, even if the underlying illness is not listed as a critical condition.