The chart below shows how CUDIC's comprehensive
deposit insurance coverage program works for you.
|
|
|
|
| Chequing account in your name |
$20,000 |
$20,000 |
|
| Savings account in your name |
$45,000 |
$45,000 |
|
| Term deposit maturing in 5 years |
$200,000 |
$185,000 |
$15,000 |
| Total deposits |
$265,000 |
$250,000 |
$15,000 |
| Savings account in spouse's name |
$275,000 |
$250,000 |
$25,000 |
| Savings account in joint name with spouse |
$200,000 |
$200,000 |
Note 1 |
| RRSP - Contract #1 (your name) |
$270,000 |
$250,000 |
$20,000 |
| RRSP - Contract #2 (your name) |
$200,000 |
$200,000 |
Note 2 |
| RRSP - Contract #3 (spousal) |
$250,000 |
$250,000 |
|
| RRSP - Contract #4 (your name) |
$250,000 |
$250,000 |
|
| RRSP - Contract #5 (for Grandson A) |
$50,000 |
$50,000 |
|
| RRSP - Contract #6 (Spouse's name) |
$250,000 |
$250,000 |
|
| Mutual Funds |
$50,000 |
|
$50,000 |
| U.S. dollar Chequing Account |
$20,000 |
|
$20,000 |
| Trust Account for Grandchildren A, B, C (shared equally) |
$750,000 |
$750,000 |
|
| Note 1 - By transferring $15,000 from your savings account and $25,000 from your spouse's savings account to your joint savings account, you can achieve full coverage of all deposit accounts. |
|
Note 2 - By transferring $20,000 from contract #1 to contract #2 or a new contract, you can achieve full coverage of your RRSP accounts. |
|
