Faith, your friendly assistant
- Total activity 331
- Last activity
- Member since
- Following 0 users
- Followed by 0 users
- Votes 0
- Subscriptions 250
Articles
Recent activity by Faith, your friendly assistant-
When can the change of person insured be made?
The policy owner can change the person insured after 2 years from the policy issue date.
-
Who can be appointed as the person insured?
The new person insured can be the policy owner, policy owner’s spouse, child or legal ward or key employee (for corporate policies).
-
What is the change of person insured option?
Changing the person insured allows you to protect the life of a different individual and ensure the policy does not end upon the death of the current person insured.
-
What happens on the death of the policy owner?
For a first-party policy, where the person insured is the same as the policy owner, the policy will end, and the death benefit will be paid to the estate of the policy owner. However, if there is a...
-
What happens if FWD is not immediately notified of the person insured’s death, and continues to pay out the cash benefits the policy owner?
The cash benefits that have been paid out to the policy owner will be deducted from the death benefits.
-
Does the policy owner need to provide proof of survivorship on the person insured to receive the cash benefits?
FWD reserves the right to request for satisfactory proof that the person insured is still alive before paying any cash benefits to the policy owner. The policy owner is fully responsible for provid...
-
What is the terminal illness benefit?
In the event a person insured is diagnosed with a terminal illness during the policy term, the death benefit will be advanced and paid out in one lump sum. However, the terminal illness benefit wil...
-
What is the death benefit?
A lump sum death benefit will be paid if the active person insured dies. The policy will terminate following the payment of the death benefit. We will also pay you any accumulated cash benefits you...
-
What is the maturity benefit?
We will pay the maturity benefit if the active person insured is alive at the end of the policy term. The maturity benefit is made up of a guaranteed maturity value and terminal bonus on maturity. ...
-
When can I surrender my policy? What will I receive?
You can apply for either a partial or full surrender of your policy. You can partially surrender your policy when your policy has accrued a positive surrender value. If you partially surrender your...