Why is FDIC insurance important to you?

Answer FDIC or Federal Deposit Insurance Corporation is a government agency that protects money deposited in FDIC-insured institutions.FunctionThe FDIC reimburses you for money lost if a bank goes out of ... Read More »

Top Q&A For: Why is FDIC insurance important to you

Why is FDIC insurance important to depositors?

The Federal Deposit Insurance Corporation, or FDIC, insures many bank deposits up to $250,000. This deposit insurance lets depositors know their funds are covered in case the bank fails.FunctionFDI... Read More »

Explain FDIC Insurance?

FDIC stands for Federal Deposit Insurance Corporation, which is a government organization that oversees the banking industry. The purpose of the FDIC is to prevent people from losing money when ban... Read More »

Is New York Life Insurance FDIC?

New York Life Insurance is not a member of the FDIC. Life insurance comes with inherent risks and investment results cannot be guaranteed by the federal government. No life insurance is FDIC-insu... Read More »

Are insurance companies covered by FDIC?

The Federal Deposit Insurance Corporation does not insure any type of non-deposit investment products including life-insurance policies or annuities sold by insurance companies or banks. FDIC insur... Read More »