Common use of Single Accounts Clause in Contracts

Single Accounts. Accounts owned by one person, and titled in that person’s name only, are added together and the total insured up to $250,000 at each Program Bank (for a total of up to $1,250,000 when deposited at all of the Program Banks). This account category does not include joint accounts, certain trusts, and individual retirement accounts, which are protected in a separate category and discussed below.

Single Accounts. Accounts owned by one person, and titled in that person’s name only, are added together and the total insured up to $250,000 at each Program Bank (for currently providing a total of up to $1,250,000 when deposited at all five of the Program Banks). This account category does not include joint accounts, certain trusts, and individual retirement accounts, which are protected in a separate category and discussed below.