How To Exceed the FDIC $250K Limit & Stay Insured

Many individuals are under the misconception that $250,000 is the maximum amount they can keep in a single bank and be FDIC-insured. By understanding how FDIC insurance works, you will be able to safeguard several millions of dollars while remaining FDIC protected in the event of a bank failure. The most important reason why this is possible is because the $250,000 limit applies per depositor, per account ownership, per financial institution!

Watch this video to find out how to maximize your FDIC protection and ensure a good night's sleep, even in turbulent times. Learn about five categories of legal account ownership and which accounts are protected. Finally, stay informed of the new FDIC rules effective April 1, 2024

Useful tools: Electronic Deposit Insurance Estimator - https://edie.fdic.gov/calculator.html

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Vitaly Novok is a fiduciary financial planner with Lestna Retirement. He helps people protect their wealth and maximize the lasting impact of their legacy by creating personalized financial and estate planning strategies.

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