Interior Design & Renovation Articles

Protecting Your Life’s Plans

16 Jul 2020 by |

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We all make plans. After launching a career and finding a partner, owning a home is right at the top of most people’s checklist. Your first home may not be your dream home, but it will always hold a special place in your heart. However, given the current pandemic that has blindsided the whole world, it is now more obvious than ever that life’s plans can be paved with unexpected events and risks.

Safeguarding Against Uncertainty

If you own a home, or are paying off a mortgage, you probably have some form of insurance. In fact, HDB requires you to take up HDB Fire Insurance if you have a home loan with them. It’s a reassuring and necessary precaution.

While any coverage is better than none at all, not all home insurance policies are created equal. There are comprehensive home insurance policies that protect you from not only fire but other unexpected incidents such as theft and burst water pipes.

One such comprehensive home insurance is FWD Home insurance, from Singapore’s first fully digital insurer. It offers affordable premiums, easy online application, and extensive coverage to protect the contents of your home such as furniture, appliances, built-in cabinetry and even renovations. Find out more about FWD Home insurance here.

Your Home is Covered, But What About You?

You’ve started a family – tick. You’ve renovated your home – tick. You’re paying off your mortgage – tick. Just when you think everything is going to plan, an unforeseen event like a major illness can disrupt and derail the best-laid plans.

If you have critical illness insurance, which typically covers serious illnesses like heart disease, stroke, diabetes and cancer, you will be relieved of the financial hardships that uninsured patients face. However, if you are diagnosed with early-stage cancer, your critical illness plan may not provide you with the funds you need from the start. This is because many critical illness insurance policies only pay out the sum insured for late-stage cancers, not early-stage ones.

The Good and Bad News About Cancer

Once a diagnosis of cancer has been made, it is of vital importance that treatment begins as soon as possible. It has been estimated that cancer treatment in Singapore costs between S$8,000 and S$17,000 a month. Emerging treatments such as immunotherapy can push the costs much higher.1

Some studies show that a positive mindset can favourably affect patient outcomes. Worries about mounting treatment costs and ongoing living expenses such as mortgage repayments are an unwelcome distraction that could adversely affect your psychological health when you should be fully focused on your physical recovery.

Access Funds Sooner Rather than Later

Taking up comprehensive cancer insurance, which pays out upon a diagnosis of cancer at any stage, including early stages, can provide patients with the funds to obtain their first choice of treatment at the optimal treatment time.

FWD Cancer insurance provides a 100% payout of the sum insured at any stage, including early stages. This means that if you are diagnosed with early stage cancer, you will receive the full payout of your sum assured to support your treatment options and other expenses. You can then focus fully on your recovery, without worrying about the financial burden associated with treatment.

Ease of Application and Purchase

Traditionally, buying almost any form of insurance, especially life and health insurance, can be time-consuming and daunting, often involving lengthy application forms.

But, not with FWD. As with all FWD insurance policies, you can apply for FWD Cancer insurance entirely online from the comfort of home. There is no need to undergo a medical examination, which is ideal for the safe distancing measures that we are currently practising. After making a simple health declaration, you’ll receive a quote within just one minute.

Time to Get Your House and Your Life in Order

For reasons that need no explanation, many of us have been house-bound of late, with time on our hands. Rather than worrying about things beyond your control, why not celebrate living and focus on the things that are within your control? It is in fact a great opportunity to get your house – and your life – in order.

There is no time like the present to consider taking up cancer insurance to financially safeguard you and your family. Currently, FWD provides S$50,000 of coverage from as low as S$7 a month (for a 30-year-old non-smoking male). Find out more about FWD Cancer insurance and ongoing promotions here.

Meanwhile, take care, stay well and celebrate living.

*Purchase or renewal of HDB Fire insurance and Endowment insurance are not eligible for this Lucky Draw campaign.

1 https://blog.seedly.sg/true-cost-cancer-treatment-singapore/

Disclaimer: Plans underwritten by FWD Singapore Pte Ltd. This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact your insurer or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg). This advertisement has not been reviewed by the Monetary Authority of Singapore. Information is meant purely for informational purposes and should not be relied upon as financial advice.

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