Quote:
Originally Posted by Golfer222
Does adding a beneficiary to a savings acount double the FDIC limit to 500,000
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I'll try to not be snarky on this one...... dificult but ok...
FDIC doesn't insure based on account holders it insures based on account/person relationship UP TO 250,000 meaning
John has 5 accounts, 1 checking and 4 savings "type" of accounts (MM, CD, etc) John has an ACCUMULATED balance of $325,000. John is only covered for $250,000 of that $325,000.