So you’d be effectively trading the old ticket for a new one and attaching CFAR to the replacement?

Assuming you took that route, you’d be out the cost of the insurance in any scenario, cancel or not. If you have UA travel in the next 24 years, wouldn’t you just be better not paying for CFAR and use the funds on a new ticket? Lower cost doesn’t refund though if I recall correctly.

“Changes/Cancellations: If the customer decides to change or cancel the flight they booked between March 3, 2020 and March 31, 2020, they can retain the value of the ticket to be applied to a new ticket without a change fee for travel up to 24 months from the original ticket issue date. If the customer decides to change or cancel the flight they booked between April 1, 2020, and March 31, 2021, they can retain the value of the ticket to be applied to a new ticket without a change fee for travel up to 12 months from the original ticket issue date. Any changes or cancellation must occur prior to ticketed travel date.”