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What is an insured amount?

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What is an insured amount?

My question comes from Insurance subject matter

The question was asked by my school principal while I was bunking the class.

Other related questions to my question are:

What is insured money?

What's the largest amount of money a person can have insured?

Should you keep more than 250k in bank?

What to do if you have more than 250k in the bank?

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Correct answer for this question is: Deposit insurance is one of the significant benefits of having an account at an FDIC-insured bank—it's how the FDIC protects your money in the unlikely event of a bank failure. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category.Nov 4, 2021

The title of my answer is Deposit Insurance

My answer's reference is FDIC

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