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FDIC Consumer News
Important Update: FDIC Insurance Coverage Increased in Late 2008
In the fall of 2008, Congress temporarily increased the basic FDIC insurance coverage limit from $100,000 to $250,000 through December 31, 2009. In addition, the FDIC simplified the rules for the calculation of deposit insurance coverage for revocable trust deposits, including an expanded definition of the "eligible beneficiaries" for additional insurance coverage. As a result, certain previously published information related to FDIC insurance may not reflect the current insurance coverage. For more information, go to www.fdic.gov/deposit/deposits/index.html or call toll-free 1-877-ASK-FDIC (1-877-275-3342) Monday through Friday, 8:00 a.m. to 8:00 p.m., Eastern Time. For the hearing-impaired, the number is 1-800-925-4618.
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Special 10th Anniversary Edition - Fall 2003
Extra Tip on... Your Safe Deposit Box
While millions of Americans rent a safe deposit box, few pay attention to questions such as what to put (and what not to put) in the box. Consider putting in anything that is difficult or impossible to replace, such as birth, marriage and death certificates, special jewels or collectibles, and videos or pictures of your home for insurance purposes. You should not put in anything you might need in an emergency, such as passports and medical-care directives, in case your bank is closed. If you want a spouse, a child or anyone else to have unrestricted access to the box, have that person sign the rental contract as a co-renter or otherwise make sure the bank will grant access to him or her.
Excerpted from "The Key to Your Safe Deposit Box," Spring 1997.
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