Insured account

Insured account

A bank or financial account that is insured for the benefit of the depositor, protecting against loss in the event that the savings institution becomes insolvent. See: FDIC.

Insured Account

A bank account on which some organization has placed a guarantee that funds will be available to the account holder. That is, if the bank becomes insolvent, insured accounts are safe and depositors will be able to access/retrieve their money, at least up to a certain amount. These accounts are almost always insured by government-sponsored organizations, such as the FDIC. Insured accounts exist in order to reduce pressures that might result in bank runs.
References in periodicals archive ?
Instead of lapsing or surrendering a life insurance policy, the death benefit is converted into a “living benefit” in the form of an irrevocable, FIDC insured account that makes monthly payments automatically to the account holder's choice of care provider.
Misrepresentation #3: The FDIC only pays a fixed amount per dollar in each insured account.
As with any other class of insurance, the premium credits associated with such programs are subject to change and negotiation depending on current market conditions, regulatory climate, and the nature and size of the insured account and loss experience.
In the savings and loan industry, the average insured account is only about $8,000.
No one has ever lost a cent in a federally insured account.
For the first time, insurers can manage advanced underwriting processes across an insured account, providing a single enterprise-wide view of the insured and enabling multi-line quoting so that underwriters can make faster and better decisions and deliver superior customer service.
DDM is a daily, multi-million dollar FDIC sweep program that works similarly to a money market fund sweep, except investor cash is swept daily into FDIC insured accounts.
The FDIC is required to provide depositors with access to their insured accounts as soon as possible after an institution fails.
Number of referrals and leads gathered from networking activities and those connected to currently insured accounts.
Whether a goods seller or service provider has coverage for its unpaid, insured accounts receivable under a policy will depend on the policy language and defined terms.
The integration with the information system of XBC gave rise to the flexibility to send electronic payment information directly to the insured accounts, and get the money debited from there.
However, if a client has other personal funds on deposit in the same bank in insured accounts, the $250,000 limit applies to the combination of the client's personal and trust account deposits.