Q.I just read that one should not have more than $100,000 in any bank and I have heard that from others. I have 3 CDs at a Wachovia bank and am somewhat worried. Each CD is no more than $100,000, but each is titled "John & Jane Doe and POD the name of our three kids." Wachovia tells me that I would have FDIC coverage in the amount of $500,000 on a single CD titled like that. I have used the FDIC web site where I have entered the information on the CD's we have and their web site indicates I have coverage. Am I at risk?

A. According to the FDIC, you are covered for $500,000 for each joint CD account designated as a payable-on-death (POD) account with the names of your three children.

This is one of the exceptions to the "only insured up to $100,000" rule. It allows a couple to each hold a $100,000 CD that is POD to the other. It also allows them to hold $100,000 CDs jointly that are POD to each of their children. One can also own a POD CD for members of their immediate families (child, grandchild, parent, or sibling) and for adopted children or stepchildren and their immediate families.

Note, too, that the FDIC's basic insurance limit was raised Oct. 3, 2008, from $100,000 to $250,000 per depositor per insured bank. And that limit has been extended until the end of 2013.

For detailed information, call your bank, go to the FDIC Web site or contact the FDIC at 1-877-275-3342.