Home › Forums › Financial Markets/Economics › Calfirnia Coast credit union › There was a story (not sure
There was a story (not sure if true) about a bank that FDIC seized, and a married couple who had a $200K acct POD.
The husband died the same day that the bank was seized, meaning that the entire $200K became the wife’s and she was only covered to $100K…
Someone figured out that the husband died at 10pm, but the bank was seized as of 3pm, which meant that HE was alive and covered by FDIC at 3pm.
SO, the wife got the $200K coverage.
http://www.fdic.gov
Retirement accounts can be covered to $250K
