For maximum insurance, it’s better not to deposity everything in one account. It’s very rare to hear about a bank failing and most depositors don’t make enough to to even go over the insurance protection limit incase their bank fails.

Most peopel are not aware of how much of their money is protected when they deposit significant amount of money in an institution that is insured by the Federal Deposit Insurance Corp. One of the main reasons why there has been soo much interest in deposit insurance is due to increase in retirement savings account. For the first time in 25 years, limit was increased from $100,000 to $250,000.

According to FDIC, basic insurance limit for bank deposits, credit union and thrifts is still $100,000. Single accounts are insured ...