Pros and cons of universal life insurance

1. I Yujeong, MBA, wrote in a column that universal life insurance allows flexible premium payments and withdrawals, but it comes with conditions and risks.
2. The column argued that the mandatory payment period is usually two years, and that only 50-70% of the principal is refunded if the policy is canceled within three years.
3. It advised checking the mandatory payment period, initial expense ratios, minimum guaranteed interest rate, withdrawal conditions and surrender value trends before signing up.

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