Wednesday, 18 May 2011

Is Fidelity 401k FDIC insured?

Fidelity  401k are not covered because they are mutual funds.
they fall into the region of investment products which are not insured.
so this would include stocks,bonds,mutual funds,life insurance policies and annuities.
Traditional bank accounts are protected such as checking and savings accounts, these fall under CD's Certificates of deposit.
~these are insured up to $250,000

so to remember:
Funds that are invested are not insured by the FDIC
Deposits into CD's are insured by the FDIC

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