FDIC Insurance?

Question

If I have $100,000+ in a CD at the bank, another one for $25,000, and a savings account and personal checking account, is each account covered with the $100,000 insurance, or are all of my accounts added together and I am only protected for $100,000?

Answer 1

Insurance is per depositor - not per instrument.  If they are retirement accounts - your total coverage would be 250,000.  But they have to be clasified before not after.

Answer 2

It all depends on how your accounts are titled.  As an example:

Mom -CD-Pay on death to Dad-80K

Dad-CD-Pay on death to Mom- 80K

Mom & Dad- CD- 80K

Mom-CD- Pay on death to child- 1-50K

Dad- CD- Pay on death  to child-1-50K

Mom-CD- Pay on death to child-2-50K

Dad-CD-Pay on death to child 2- 50K

total: 440K all FDIC insured

Since all of the accounts are titled differently, they are all FDIC insured.

I wish these were real accounts and not just made up ones.