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 you withdraw the cash value in your policy, the life insurance company considers it a loan. You will be charged a âcash surrenderâ fee of up to $750 dollars and will have to pay interest on the money you have withdrawn until the loan is paid back. It pretty much works the same as a bank loan or credit card.