Mutual funds, annuities, life insurance plans, stocks, and bonds are examples of investment products that are not covered by FDIC deposit insurance because they are not considered to be deposits.
What does FDIC insurance actually cover?
- Up to the insurance limit, the FDIC insures depositor accounts at each insured bank, dollar for dollar, including principal and any interest that has accumulated up to the date of the covered bank's closure.
- No matter how many accounts you have, the FDIC in the US will protect your money from bank collapse up to a maximum of $250,000 per name.
- It does not safeguard your funds against bank robberies because it is not necessary.
- The bank is the custodian in trust when your money is in the bank.
- Mutual funds, annuities, life insurance plans, stocks, and bonds are examples of investment goods that are not covered by FDIC deposit insurance since they are not considered to be deposits.
To learn more about FDIC refer,
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