Rusty Miller

Rusty Miller

Rusty is married to his wife Debbie for 29 years and has two children Alexis and Austin along with two dogs Carson and Murphy. He has lived in the Troy area his entire life and is a member of a local Board of Education. He is a member of Troy Lions Club and M.E. Education Foundation.

American Liberty Financial Network

1201 Barnhart Rd.

Troy, Ohio 45373

rusty.miller@retirevillage.com (877) 677-4506
Back To Articles

We all know that the Federal Deposit Insurance Corporation insures our bank deposits.

 

They are safe, and they are guaranteed. We, as a nation, depend on these guarantees as the financial backbone of our monetary system.


Have you ever wondered what is not insured?


  • Investments in stocks, bonds, mutual funds, municipal bonds, or other securitiesAnnuities, variable annuities are securities and are backed by the actual assets in the annuity. Annuities issued by insurance companies are insured by the issuing insurance company as well as the individual's state of residence (State Guarantee Fund)
  • Life insurance products even if purchased at an insured bank
  • Treasury bills (T-bills), bonds, or notes
  • Safe deposit boxes and their contents
  • Losses by theft (although stolen funds may be covered by the bank's hazard and casualty insurance)


The protection of the money we deposit in our bank accounts is something most of us take for granted today, but this security has not always been there. After the stock market crash of 1929, thousands of banks failed. In 1933, Congress and President Franklin D. Roosevelt created the Federal Deposit Insurance Corporation (FDIC) to provide a federal government guarantee of deposits and maintain stability and public confidence in the nation's banking systems.


1933: Congress creates the FDIC to calm the nation after many bank failures during the depression.


2008: The Emergency Economic Stabilization Act of 2008 was signed on October 3, 2008. This raised the basic limit of federal deposit insurance coverage from $100,000 to $250,000 per depositor.


A simple way to understand how FDIC insurance works is to visit this very informative website: www.fdic.gov

Best Annuity Rates Report Cover

Annuity Questions?

Download the 2021 Annuity and Investment Report Now and learn more about annuity options that can help you achieve your retirement goals.

Safe Money Guide Report Cover

Safe Money Guide

Download our Safe Money Guide and learn more about safe retirement options that can help you achieve your retirement goals safely - FREE!

Life Insurance Guide Report Cover

Life Insurance Guide

Learn more about the various life insurance options available to you that can help you achieve your goals.

Sign up for our newsletter.

Safe Money insights and tips sent to your inbox twice a month.

Sign Up Now!