The Federal Deposit Insurance Corporation insures deposits up to $250,000 per person per financial institution.Suzanne has $520,000 in a joint account with her husband,Ted.How much is not covered by FDIC insurance?

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Quizplus · Accepted Answer

In a joint account, each co-owner is insured up to $250,000 by the FDIC. Therefore, Suzanne and Ted would collectively be insured for $500,000 ($250,000 each), leaving $20,000 of their $520,000 not covered by FDIC insurance.

The Federal Deposit Insurance Corporation Insures Deposits Up to $250,000