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What should I know before cashing out a universal life insurance policy?
What should I know before cashing out a universal life insurance policy? I'm currently 40 years old, married, no children. When I was 18, I got a full scholarship to college, so my parents put the money they had saved for my education ($5000) into a universal life insurance policy for me ($250k of coverage). I never paid a dime into this policy, and my parents have not contributed anything beyond the initial $5000. I...
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