separate customer

Separate customer

Method of allocating insurance by the Securities Investor Protection Corporation. Each account that is under the name of a different person or group of people is entitled to maximum protection.

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separate customer

For purposes of insurance coverage by the Securities Investor Protection Corporation, an account entitled to full insurance coverage. A husband and wife, each with individual accounts and also a joint account, are viewed as three separate customers for insurance purposes. Each one of the accounts, including the joint account, is covered in full.