SecondCor521
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I just looked it up online and the term unique beneficiary is used. I believe the guy gave me some good poop from the way I read it each of those CDs are insured up to one million with the way I have it set up. Not that I have that much at present. But my spread sheet that goes out till I will be too old to care and spread sheets are obsolete shows that it is a possibility.
If it's a single CD I don't think there's any way to insure it up to $1M.
If you had four $250K CD's, one with your wife as beneficiary, the second with your first child as a beneficiary, the third with your second child as a beneficiary, and the fourth with your third child as a beneficiary, then I think you would have $1M in total coverage - $250K per CD. In order to do this you would have to have each CD in a separate account.
If you have one CD with your wife and three kids as beneficiaries, I think it would only be insured up to $250K.
In other words, it's not the number of beneficiaries per account, it's the number of unique combinations of beneficiaries across accounts.
I may be mistaken, but I don't think I am. Please read carefully and make sure you're convinced; I would hate for you to be wrong.