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.
The difference between the cash value and the surrender charges is what is known as the surrender value.. That's usually the amount you can borrow from the policy -- also known as the loan value.. You asked the question, Can I borrow against my life insurance policy?. The answer is yes, though only if it's a whole life policy with cash values and only up to the amount of the surrender or loan value.