Debt Cancellation | SWBC

Debt Cancellation

These days, even the most financially stable borrower can be hit with bills that they can’t pay when illness, injury, or death eliminates a family paycheck—causing damage to their credit score and even repossessions. If your financial institution wants to offer your borrowers valuable payment protection, but isn’t licensed to offer credit insurance, debt cancellation is an alternative option that could provide your borrower’s with protection from life’s unexpected curveballs.


Debt Cancellation can help your borrowers by making their monthly payments or paying off their loan, and protect your institution from potential delinquencies and charge-offs.

Reduce Loan Losses

By offering Debt Cancellation to every borrower, on every loan, your institution is protected from defaults and charge offs if a borrower is ever unable to make their loan payments due to a qualified event.

World-Class Training

What good is having a product if your staff isn’t trained to offer it? Absolutely none. That’s why we employ a team of world-class trainers that will build a training program that helps your staff learn to recognize opportunities to sell, offer and recommend appropriate products, overcome objections, and closes sales quickly and efficiently.

Multi-Carrier Options

Because we have relationships with multiple top-rated carriers, it gives you the ability to offer your borrowers a wider range of solutions than any single carrier can provide.


Our Unity platform allows your loan officers to streamline their lending and cross-selling process to better serve your borrowers and protect their investments. The application features real-time product quoting for all loan protection products, giving your staff the ability to quickly generate accurate recommendations and quotes from one screen, without the need to toggle between screens or enter data in multiple locations.

Debt Cancellation is not an insurance product. It is a contract between you and your borrower. Debt Cancellation offers your financial institution the flexibility to design protection programs that best fit your borrower’s needs or lifestyles.



Benefits to Your Financial Institution

  • Design flexibility—you design the package to meet your needs
  • Increases borrower loyalty and satisfaction
  • Fee income potential
  • Streamlined integration with the lending process
  • No licensing restrictions
  • You determine the retail rate for your borrowers

Benefits to Your Borrowers

  • Protection options include disability, job loss, or death
  • Financial protection
  • Affordable
  • Monthly fees for the coverage can be incorporated into to their loan payment
  • Provides credit rating protection as loan payments are kept current
  • Convenient and easy to qualify

By working with SWBC, you can implement a debt cancellation program and offer your borrowers coverage without a licensed agent. We’ll partner with your institution every step of the way—from implementation through regular business reviews. Contact us today to start offering your borrowers valuable loan protection while generating non-interest income for your institution.

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Are you an individual looking for debt cancellation coverage?
Contact your lender directly for options.


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If you're a consumer interested in purchasing this product, please contact your financial institution. For client support, click here.

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