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.
While few exceptions exist for avoiding the insurance company's surrender penalties, the government will waive its 10 percent penalty if you use the distributions to buy, build, or rebuild a first home, according to the IRS.