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 value. Definition. The amount available in cash upon cancellation of an insurance policy, usually a whole life policy, before it becomes payable upon death or maturity. also called cash surrender value or surrender value. Use cash value in a sentence. â 1  The cash value of the policy was substantial so we decided to cancel the policy and receive the infusion of liquidity. â 2  I noticed that I had a lot of cash value and that was good because I needed it badly and could not afford insurance anymore.