For most people, hitting six figures in savings feels like a financial milestone. But once your balance crosses $250,000, your money may no longer be fully insured. Choosing a bank account that's backed by federal insurance is crucial in case the financial institution fails. So what can you do to protect your money if you have more than$250,000? How does deposit insurance work? Deposit insurance is a safety net that protects your money if your bank or credit union fails. The Federal Deposit Insuranc ...