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Debt Cancellation

Peace of Mind When Life Changes

Protect yourself and your family from unexpected financial hardship. UCCU’s Debt Cancellation program offers you peace of mind by cancelling some or all of your debt when protected events occur, helping you maintain financial stability during challenging times.

Protection That Works For You

  • Death Benefit
    Pays off your remaining loan balance up to $75,000
  • Disability
    Covers monthly payments up to $1,000 for 12 months
  • Involuntary Unemployment
    Makes payments up to $1,000 monthly for 6 months per occurrence

Key Program Features

Coverage Details
  • Available for members under age 70
  • 30-day retroactive benefits for disability and unemployment
  • Coverage up to 120-month loan terms
  • Benefits payable from first day of protected event
Additional Benefits
  • Protects your credit rating during hardship
  • Prevents late fees and delinquency
  • Single and joint coverage options available
  • Simple claims process

Be Ready for Anything

We are here to help prepare you for anything life throws at you. You focus on what matters most and let us focus on your financial obligations.


(801) 223-8188 | Branch Locations

Available M–F 8am–6pm, and Sat. 9am–2pm*.
*Saturday lobby hours vary per Branch Location

Coverage Options That Fit Your Needs

  • Option 1: Basic Protection:
    ✓Full-Period, All Cause Death Coverage
    ✓Up to $75,000 death benefit
    ✓Most affordable monthly rate
  • Option 2: Death & Disability:
    ✓Full death benefit coverage
    ✓Monthly disability payments up to $1,000
    ✓12 months of disability coverage
  • Option 3: Death & Unemployment:
    ✓Full death benefit coverage
    ✓Unemployment protection up to $1,000/month
    ✓6 months coverage per occurrence
  • Option 4: Complete Protection:
    ✓Full death benefit coverage
    ✓Disability protection ($12,000 max benefit)
    ✓Unemployment protection ($12,000 max total)

Frequently Asked Questions

What makes Debt Cancellation different from an insurance product?

Debt Cancellation directly addresses your loan obligations rather than providing a separate payout. When a protected event occurs, it directly cancels or makes payments on your loan, eliminating the need to manage insurance claims and coordinate payments. This streamlined approach means you don’t have to worry about using insurance proceeds correctly – the program automatically handles your loan payments, ensuring your credit remains protected and your family isn’t burdened with managing claim payments during difficult times.

How do I qualify for Debt Cancellation protection?

Qualification for Debt Cancellation protection is straightforward for UCCU members. You must be under age 70 and gainfully employed (working 30 hours or more per week) at the time of enrollment for full benefits. The program offers various coverage options, and you can enroll when you take out your loan. If you decide to add protection after your loan is established, some health questions may be required if it’s been more than 30 days since the loan origination.

If I already have life and disability insurance, why would I need Debt Cancellation?

While traditional life and disability insurance provide important protection, Debt Cancellation offers specific advantages for your loan obligations. Most Americans are underinsured, with experts recommending life insurance coverage of 8-10 times annual salary. Debt Cancellation ensures your loan is specifically covered, allowing your other insurance proceeds to go directly to your family’s needs rather than debt repayment. Additionally, most workplace disability plans only cover 60% of your salary, which may not be sufficient to maintain your loan payments and other expenses.