The interest of a beneficiary in a valid irrevocable trust, is insured up to $200,000 separately from the individual accounts of the settlor, the trustee or other beneficiaries. However, all trust interests created by the same settlor (grantor) in the same institution for the same beneficiary will be added together and insured in the aggregate up to a maximum of $200,000.
Frequently Asked Questions
- What happens if a depositor expects to be paid an amount that is different from what the DIC pays?
- How quickly will the Liquidator make payments on certificates?
- How is a depositor notified that an institution in which he or she has a deposit, has been ordered to be closed?
- How does the closing of an institution affect interest accruing on a deposit?
Did You Know?
- Misconception: Beneficiaries under all trust account arrangements are insured separately. - Fact: The interests held by beneficiaries established under an irrevocable express trust account are insured separately up to the maximum TT$200,000 prescribed limit. Additionally, interests in accounts held by the Settlor, Trustee or Administrator of an irrevocable trust account are insured separately from the interests of the beneficiaries named under …
