Originally Posted by
UAPremExecflyer
...You keep the value of the ticket for 12 months. ....
a point of clarification -- the lifetime of the value is 12 months from the original booking date (and not the date of original travel which might be the natural assumption).
Originally Posted by
UAPremExecflyer
... you will have to pay $150-250 change fee when using towards the value of the new ticket....
Some restricted international tickets change fees may be even higher ($400 is the highest I have seen) but the $150-$250 are the most common amounts. A key point is the change fee must be paid from "new money" and is not funded from the residual credit.