February 16, 2022
More than 11,000 PropNex’s self-employed salespersons and their extended community of friends and family (“PropNex Community”) will enjoy exclusive access and credits for FWD’s Term Life Plus insurance and Big 3 Critical Illness insurance online.
Singapore, 16 February 2022 – Singapore’s leading digital insurer FWD Singapore (“FWD”) and financial advisory partner SingCapital are pleased to partner PropNex Realty (“PropNex”), Singapore’s largest real estate brokerage agency, in an exclusive tie-up to empower the PropNex community to close their insurance gaps through accessible and affordable solutions.
Through this partnership, the PropNex Community can secure their term life and critical illness coverage with FWD’s Term Life Plus insurance and Big 3 Critical Illness insurance online within minutes, without any medical examination. They will also receive a first-year premium credit of up to S$100. For example, for a customer aged 35 , with a coverage of S$50,000 for Cancer, Heart Attack and Stroke, a S$100 credit will offset close to 50% of his first-year premium.
FWD’s comprehensive term life insurance and critical illness plans provide Self-Employed Persons (“SEPs”) greater financial support and flexibility with a lump-sum payout upon a critical illness, total and permanent disability, or death.
The Life Insurance Association of Singapore has highlighted in the 2017 Protection Gap Study that the average protection gap for mortality and critical illnesses for an average economically active adult is around 2 times and 3 times their annual income .
FWD Singapore and SingCapital have committed to fund more than S$1,000,000 credits to cater for a growing agency force.
Kee Eng Khor, FWD Singapore’s CEO, said “We’re delighted to support an important group of Singapore’s SEPs with accessible and affordable life and critical illness coverage. As a digital-first insurance provider, this partnership is part of our commitment to collaborate with like-minded partners to leverage our capabilities and continue changing the way people feel about insurance.”
“PropNex’s philosophy is to constantly add value for our salesforce and this tie-up allows our 11,043 salespersons to enjoy more than S$1,000,000 credits in total for the protection of themselves and even for their loved ones,” remarked Ismail Gafoor, CEO of PropNex Realty.
“SingCapital is excited to empower the PropNex Community with more insurance protection options through FWD Singapore,” added Alfred Chia, CEO of SingCapital.
1Based on male, aged 35, non-smoker with a sum assured of S$50,000 for FWD Big 3 Critical Illness insurance 2https://www.lia.org.sg/media/1527/lia_pgs_2017_key_findings_180426.pdf
3as at 7 February 2022
FWD Group is a pan-Asian life insurance business with approximately 10 million customers across 10 markets, including some of the fastest growing insurance markets in the world. Established in 2013, FWD is focused on making the insurance journey simpler, faster and smoother, with innovative propositions and easy-to-understand products, supported by digital technology. Through this customer-led approach, FWD is committed to changing the way people feel about insurance.
FWD Singapore started operations in 2016 and is one of the first fully direct and online life and general insurers, with the capability to also provide offline advisory for customers.
For more information, please visit www.fwd.com.sg
SingCapital is one of Singapore's leading Financial Advisory Firms dedicated to providing quality financial services and solutions for individuals and businesses. Licensed by the Monetary Authority of Singapore (MAS) under the Financial Adviser Act, SingCapital’s personal financial consultants will be able to guide individuals into achieving financial freedom or businesses in corporate risks management, insurance or corporate financial planning.
For more information, please visit www.singcapital.com
About PropNex Realty Singapore
PropNex is Singapore's largest listed homegrown real estate agency with over 11,000 sales professionals leading in the residential property segment, new project launches, HDB resale market and commercial segments. The Group has an established presence in Singapore’s residential market and is continually expanding the brand presence in Indonesia, Malaysia, Vietnam and Cambodia. With a strong commitment to service excellence and quality, PropNex is the proud recipient of numerous accolades and is the recognized leader in real estate agency services.
For more information, please visit www.propnex.com
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