Faith, your friendly assistant
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What are the payment method options for FWD Life Income?
You can pay using any of the following options: GIRO (General Interbank Recurring Order); direct bank transfer; or PayNow to our UEN at 200501737H.
Who can buy FWD Life Income?
If you are between 18 and 70 years old, a resident of Singapore holding an NRIC, FIN, or a work permit, you will be able to purchase FWD Life Income. Foreigners may also purchase the policy in Sing...
What happens if the secondary person insured dies before the active person insured?
Nothing happens – no death benefit will be paid out. The policy will continue as if no secondary person insured was appointed. The policy owner can appoint a new secondary person insured if the pol...
Can I take a loan from my policy’s surrender value?
If your policy has a positive surrender value, you may apply for a policy loan after 2 policy years, subject to our policy loan requirements. We will charge you interest on the amount you owe, at i...
Will I be able to get a refund if I cancel my FWD Life Income policy?
If you aren’t completely satisfied with your policy and you haven’t made a claim under it, you have 14 calendar days from the date you receive your policy to cancel it. After receiving your notice,...
What is the minimum premium required to start a FWD Life Income policy?
The minimum premiums are as follow: Single premium: S$50,000 one-time payment 5-year premium payment term: S$7,000 annually for 5 years 10-year premium payment term: S$3,000 annually for 10 years
Can the policy owner revoke the secondary person insured nomination after the active person insured dies?
No, the policy owner can only revoke the secondary person insured nomination before the death of the active person insured. On the death of the active person insured, the secondary person insured ...
Who can change the secondary person insured of the policy?
Only the policy owner can make changes (appoint or revoke) to the secondary person insured.
If there is an appointed secondary person insured, what happens to the policy upon death of the policy owner?
Upon death of the policy owner, the policy will go to the estate of the policy owner. For a first-party policy, where the policy owner is the active person insured, the secondary person insured wil...
How many times can I appoint a secondary person insured?
The secondary person insured can be appointed a total of 3 times. There can only be one secondary person insured at any point of time.