IBAN is an acronym, which stands for International Bank Account Number. It is a standard way of uniquely identifying an account for the purpose of improving the efficiency and speed of cross border payments.
YES NO 6 people found this helpful. â Since they were broke they decided to look at cashing in on anythinh they could. The cash surrender value on their life insurance policy would be enough to get them through.
Cash value: In a life insurance policy, the amount available to the owner when a policy is surrendered to the company. During the early policy years, the cash value is the reserve less a surrender charge. in the later policy years, the cash surrender value usually equals or closely approximates the reserve value.