Frequently Asked Questions
- What is the insurance coverage on a trust account held under the provisions of an irrevocable express trust?
- Are any other cash liabilities of financial institutions covered?
- Is the depositor required to produce proof of ownership to the DIC or to the transferee institution?
- If a depositor has more than $200,000 (the current insured limit) in a closed institution and is paid $200,000 by the DIC, what happens to the amount in excess of $200,000?
Did You Know?
- Misconception: Deposit insurance can be claimed while the member institution is still continuing in operation. - Fact: Deposit insurance is ONLY activated upon closure of a member institution.
