Poof! The Middleman is gone. And your Term Plan just got better

Posted 11 August, 2017 by Clearly
in Product Reviews

Great things happen – once the Middleman vanishes


Disruption seems to be the buzz word of choice these days. Most disruption focuses on making goods and services cheaper, faster, and better – often by removing the middleman.

We’ve seen this happen time and again across various industries. Transport, travel, and retail have the most easily recognizable disruptions. These have changed how we view and utilize them – sometimes radically.

Uber/Grab made unreliable taxi booking services a thing of the past. It used to be neigh impossible to hail a cab during peak hours in the city without calling a cab. And this incurs extra booking fees – if the booking even came through in the first place. Prior to this, cab companies were happy to chug along with antiquated booking systems and unethical driving practices.


Long taxi queues with empty cabs zooming past are no longer a thing

Long taxi queues with empty cabs zooming past are no longer a thing


Fancy a trip to the Caribbean? You would likely plan your own trip now than engage a travel agency. Hotel and airfare aggregators let you choose exactly where you want to stay, and how you want to fly. There is more freedom and flexibility – not to mention cheaper trips, all things considered. And we have Trivago, Airbnb, and Skyscanner to thank for this.

The pattern seems quite clear.

Once the middle man is gone, things often work out better for the consumer.


How will Insurance look like, without a Middleman?


That is a superb question to fire up the ole’ imagination engine.

Since there will be no commissions paid out from policy, it will safe to say that it will reduce the overall premiums from policies. This actually happened over the past decade, when travel insurance policies began being marketed solely online – overall prices declined by more than 40%.

Leaving out the middleman means no more information asymmetry, which translates to a higher degree of transparency. Imagine entire policies written in plain English and readable without a dictionary. Or a lawyer.


It should also be a safe bet that there will be more innovative features. Companies that remove the middleman tend to be innovative and creative because they would be bucking the trend followed by all others and setting their own.

For all these imagination and daydreams, it may surprise you that they are already a reality.

FWD Insurance is the first Insurer to come along in decades that operates entirely without agents. After taking the industry by storm in Singapore with their general insurance products last year, they recently launched Term Life insurance.

Let’s take a closer look at how FWD does things differently.


How has FWD made the Term Plan better?


No medical underwriting required – For Cover amounts up to 1.5 million SGD*

Sweet. Who wants to undergo needless medical check-ups just to buy a policy?

FWD is the only insurer to offer up to $1.5 million of life insurance cover without the need to go for a medical check-up. For perspective, some Insurers require medical check-ups starting from just $750k onwards.

*You need to be free of any major health conditions for this to apply


Buy online, from the comfort of your own home

We just crave convenience these days, and the idea of meeting an agent for hours – and then filling in reams of paper forms isn’t exactly our idea of fun. With FWD, you can get insured from the comfort of your own home. FWD lets you buy online, removing the need for long and inconvenient meetings with insurance agents. Plus, you can get a quote in 10 seconds!


Or you could even purchase a policy while at work, when the boss isn't looking. #justsaying

Or you could even purchase a policy while at work, when the boss isn’t looking. #justsaying


Enjoy Coverage up to 3 million SGD

Our coverage needs vary with our Life stage and own personal situation, and FWD knows this very well. FWD is the only insurer to offer a maximum coverage of $3 million for life insurance directly online.


Easy to understand language: Full Transparency

One of our biggest bug bears about Insurance policies is their liberal use of contractual language – great for contracts, terrible for easy comprehension. What we applaud FWD for is also the way they have purposefully used plain English to explain everything.

Here’s how they summarized what their benefits their plan provides:


Term life insurance ensures your loved ones receive financial support if you pass away before the policy ends. From basic coverage for death and terminal illness to comprehensive protection for total and permanent disability, critical illness and premium waiver – you can mix and match the benefits to your needs.


No dictionary required.


Price Competitive

But of course! You’ve come to expect this once the middleman is out of the picture, right? We’ve checked and they provide the most price competitive quotes out there in the market, if not THE most price competitive. With premiums starting from less than $1 per day, FWD life insurance truly gives you great value!


>> Experience the Term Plan without any middleman and save big bucks <<

FWD Does all


www.ClearlySurely.com aims to eradicate the knowledge gap between consumers and Life Insurance. Our Vision is that one day, every Man, Woman, and Child will be properly insured.

This post is brought to you by FWD. All views and opinions presented in the article are those of www.ClearlySurely.com

  1. johan

    I checked out FWD term life insurance…. its simply a term insurance that covers till age 70? How is it even a life insurance? So if i pay $3840 as quoted for the next 44years and nothing happens, I would have spent about 170k for nothing. There are limited pay life insurance policies which i still think are more worthwhile. I pay more now but its for a limited payment period with whole of life cover.

    1. Liu

      That is, right tyere, the value of ur called “middle man”. Having a good agent that will educate me is far more valuable than talking to a computer. How about the claim process?, who will assist on the event of a death claim when the family is shaken? I still cant believe that u compared insurance planning with taxi booking. And is still more reassuring to plan a vacation with an agency. U want to pay cheap, u will get a cheap service, so go ahead. Pfff!!

    2. Kyle

      Yes Johan, the key difference between whole life and term policies is that whole life policies build up cash value, which can allow you to get your money back if u surrender it after several decades of no unfortunate events happening to you. Term policies do not have this feature. So if nothing happens to you from the start to end of your policy, then you would have “wasted” the money spent on premiums.

    1. Liu

      @bankshot. I already have one, and even if this one goes, ill find another one. Is easy to find good professionals if ur on the look for it. For u, definitely the website wil b enough. Cheap cheap cheap

      1. Bankshot

        Proud to be called cheap than stupid.

        Don’t see why anyone can pay extra for same product and crow about it. But I guess these are the same people who believe in flat earth too.

        1. Hero

          No offense, but when you had a claim done then you will understand why an agent assisting you is so important.

          Try buying a 40% discount travel insurance and having issues and claims overseas, u will understand how much unnecessary trouble probably $10+ will save you.

  2. Ridiculous

    I used to like your posts a lot. Until this ridiculous post came along. I understand it is sponsored and all but this post is so skewed and useless.
    1. Easy to understand language. What you quoted is EXACTLY WHAT ALL COMPANIES USE. How is that easier to understand?
    2. Price. You checked and it is the most competitive. Ok care to give examples? You are supposed to be a neutral party so where are the comparisons so we as consumers can see for ourselves?
    3. Removing middleman. Yes we remove the cost such as giving commissions to the agents. It’s good that premiums are cheaper. But is that all? I’m pretty sure some agents bring certain value to the table as well.

    This particular post is full of vague terms and comparisons that offer no tangible benefits to readers except to shove FWD down their throats. You can do much better than this. Buck up

    1. Kyle

      Indeed, before buying policies online, one should consider what happens in the future if u want to increase/decrease the sum assured, take a premium holiday/loan, surrender the policy, make a claim, add on a rider, etc. Without an agent, you would have to settle all these things by yourself, which at best would be extremely troublesome, and at worst, your claim may even be rejected due to failure to fill our the correct forma properly, failure to provide the necessary documents, etc.

      1. Ridiculous

        It’s ok let’s not talk about agents here before we invite all the agent bashers. Let’s discuss about the value of agents another time.

        Like I mentioned previously be it with or without an agent, the post should be an informative one instead of an advertising one with no neutrality at all. For all the consumers out there, do take a step back to understand why this blog is pushing for FWD. Just like an agent, this blog gets MONEY for producing an article like this and tying up with FWD. If the commission an agent gets is an issue to you, you should definitely take this article with a pinch of salt as well.

        And the warning signs of a biased advertising is clear to see. “Premiums for as low as $1 a day” That is such a vague and misleading statement. What kind of insurance coverage is it? What benefits do you get? I’m pretty sure if an agent says that to you he/she will be punched left right center and left to rot by the vigilantes of the internet.

        Just like how you should always review carefully what agents say, always take what a sponsored post says with a pinch of salt.

  3. Fiona

    Wow I’ve been a regular follower of this blog and never seen so many comments on a single article like this. Seems logical to me that many people that oppose FWD are agents, which is exactly why there is such a strong opposition to the article.

    Face it, the facts are clearly laid out. They didnt agent-bash. They just stated the benefits of the product. Be thankful for that.

    All you agents should be the ones bucking up and facing up to reality.

    1. Ridiculous

      I’m pretty sure you didn’t follow this blog enough. There has been a few other articles which have generated a lot of interests among the public as well. This is at best a “more” discussed article Miss Fiona.

      Do you see anyone bashing FWD or opposing it here? I don’t think so. We are talking about THE POST ITSELF. As much as I understand it is meant to be a sponsored post, I do think that as an informative blog they should be educating the public more rather than giving a skewed view with vague ideas. Why do you jump to the conclusion that agents are the only ones commenting on this article? I agree with you that agents should buck up. But that’s not what we are talking about over here isn’t it?

  4. Peter

    “This post is brought to you by FWD.”

    Is there some rules governing articles made to look neutral but actually created by the product seller themselves?

  5. SY

    Yeah bruh, there is one rule. It’s called common sense. People sell stuff all the time. You use your common sense to determine if you want to buy or not.

    You sell yourself to your employer and your spouse too. Unfortunately for them, they bought you.

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