The FDIC: Insurance onYour Bank Deposits
The Federal Deposit Insurance Corporation (FDIC) protects against loss of deposits in any FDIC-insured bank or savings association — in other words, if you have money in a bank and that bank goes under, you’re protected.
The insurance covers both regular and IRA funds in checking, savings, CDs
and money-market accounts. The FDIC does not cover other financial products (like stocks, bonds, mutual funds, or insurance annuities). The FDIC insures accounts up to $250,000 per owner; $500,000 for joint accounts.