What if the account holder has died?
If the bank account owner dies and the bank fails, the existing insurance coverage in effect at the time of the account owners death remains in effect for a period of six months, or less if the account is restructured during that interval. After six months, or as soon as the account is restructured, the available insurance coverage is determined according to the actual ownership of the accounts. See the discussion of fiduciary accounts above. What happens to my safe deposit box if the bank fails? Safe deposit boxes and their contents are not insured. In the event of a bank failure, the FDIC may arrange for an acquiring bank to take over the failed banks offices, including locations with safe deposit boxes. If the FDIC fails to find an acquiring bank to take over the failed bank, then you will receive instructions on how to access the safe deposit box and remove its contents.
