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 Surrender Value: Amount payable to the policyowner upon surrender of the policy. It is equal to the contract fund value minus the surrender charge. If applicable, refer to your policy. Contract Fund Value: The sum of the Tier One Contract Fund Value and the Tier Two Contract Fund Value. Cost of Insurance: A monthly charge which is made against the Policy Value to pay for the cost of the next month's insurance coverage. Death Benefit Option: The death benefit option is selected by the policyowner. The options are: Option A (Specified Amount); Option B (Specified Amount plus the Policy Value); and Option C (Specified Amount plus Cumulative Premiums Paid, minus Cumulative Withdrawals made.