Important Update: Changes in FDIC Deposit Insurance Coverage
The FDIC deposit insurance rules have undergone a series of changes starting in the fall of 2008. As a result, certain previously published information related to FDIC insurance coverage may not reflect the current rules. For details about the recent changes, visit Changes in FDIC Deposit Insurance Coverage. For more information about FDIC insurance, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342). For the hearing-impaired, the number is 1-800-925-4618.
that is incorrect.
The correct answer is "False." For each $100,000 joint account,
interest would be $50,000. (The interests of the co-owners are presumed
equal.) This means your interest in all three joint accounts would be
$150,000. But under the FDIC's rules, no one person's insured interest in
all joint accounts at the same institution can exceed $100,000. You'd be
uninsured in the amount of $50,000.