An Insurance which insures you and your Life ....

 

In general life, an  unplanned expenses are a bitter truth. Even when you think that you are financially secure, a sudden or unforeseen expenditure can significantly hamper this kind of security. While you cannot plan ahead for the contingencies arising from such incidents, insurance policies offer a semblance of support to minimize the financial liability from the unforeseen occurrences.

Bank Insurance is a guarantee by the Federal Deposit Insurance Corporation (FDIC) of deposits in a bank.Bank Insurance Fund is the federal fund used to insure the bank deposits of National and State banks that are members of the federal reserve system. Bank Insurance helps to protect the individuals who deposit their savings in banks against the commercial bank insolvency.

FDIC deposit insurance coverage depends on two things : whether your chosen financial product is a deposit product and whether your bank is FDIC-insured. If your insured bank fails, FDIC insurance will cover your deposit accounts, dollar for dollar up to the insurance limit, including principal and any accrued interest through the date of the insured bank’s closing. 

FDIC Bank Insurance Coverage Includes :

  • Checking accounts
  • Negotiable Order of Withdrawal (NOW) accounts
  • Savings accounts
  • Money market deposit accounts (MMDAs)
  • Time deposits such as certificates of deposit (CDs)
  • Cashier's checks, money orders, and other official items issued by a bank

FDIC Bank Insurance Coverage Does Not Include :

  • Stock investments
  • Bond investments
  • Mutual funds
  • Life insurance policies
  • Annuities
  • Municipal securities
  • Safe deposit boxes or their contents

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