What types of bank accounts are covered by FDIC insurance?

FDIC insurance applies to all types of deposits at an insured institution, including those in checking accounts, savings accounts, so-called NOW accounts, money market deposit accounts and time deposits such as certificates of deposit.

If a bank fails, you will get the balance of the account up to the insured limit, including the principal and any interest accrued up to the date of the bank's closing.

The FDIC won't cover money invested in stocks, bonds, mutual funds, life insurance policies, annuities and municipal securities, even if you bought those investments at an insured bank. U.S. Treasury bills, bonds and notes are also not insured by the FDIC because they already have the backing of the U.S. government.

-- Washington Post Staff Writer Nancy Trejos