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.
In whole life insurance, there's an important distinction between surrender charges and surrender value. The surrender value is the amount you will receive if you surrender the policy. It may only be a portion of the cash value.