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.
If there is a policy loan, the cash surrender value is the difference between. the cash value printed in the policy and the loan value. Not all policies have cash surrender values. LAPSE: A life insurance policy may lapse when you do not pay the premiums within the grace period. If. you had a cash surrender value, the insurer might change your policy to as much extended terms insurance. or paid-up insurance as the cash surrender value will buy. Sometimes the policy lets the insurer borrow.