I currently have 250K in certificates in a credit union covered by NCUA federal insurance. They will allow adding a payable-on-death beneficiary which is a 501(C)(3) tax exempt foundation, not a human individual. If I add the same one POD beneficiary to all my accounts, including more accounts to be added up to total of 500K, will that increase the amount of NCUA insurance to 500K ? Let me emphasize that this concerns a beneficiary which is an institution, not an individual. And the institution is a federally registered 501(c)(3) tax exempt. And I'm talking about a POD beneficiary, NOT a joint owner.
Does it matter whether the POD beneficiary is an institution not an individual?
Does it matter whether the institution in tax-exempt?
Does it matter whether it's a POD beneficiary and not a joint owner?