FDIC insurance for bank investments - do you have a link to how to calculate

[Greta]

Banker told me that the 250K FDIC insurance can be increased if beneficiaries are included in the calculation. I'd like to be better informed how that works.

[Norman2001]

https://edie.fdic.gov/fdic_info.html#03

[Greta]

Good link. All examples seem to say "with no beneficiaries."  How do the beneficiaries change the calculation?

[IRonMaN]

I don't believe adding beneficiaries to an account increases FDIC coverage.  But if those beneficiaries are changed to joint owners, that would increase coverage since each owner would be allowed $250,000 of coverage on the account

[George4Tacks · Accepted solution]

Look in the link for revocable trusts. 

What are you thinking of when you use "beneficiaries"?

[qbteachmt]

Audio and transcript: https://www.suzeorman.com/blog/Podcast-Episode-Suze-School:-What-you-need-to-know-about-FDIC-insuran...

[PATAX]

Also as far as I know, if the bank goes under, all of the applicable accounts and applicable amounts under the applicable social security number, are combined into one, and if that is in excess of $250,000, then the person may be up s*** crick. You can look into this yourself but I believe this is the case.