Federal Savings and Loan Insurance Corporation (FSLIC)

Published:

Definition - What does Federal Savings and Loan Insurance Corporation (FSLIC) mean?

The Federal Savings and Loan Insurance Corporation (FSLIC) is a former government institution that used to insure bank deposits up to a certain limit. The FSLIC was abolished in 1989 and its assets were transferred to the Savings Association Insurance Fund.

Insuranceopedia explains Federal Savings and Loan Insurance Corporation (FSLIC)

The Federal Savings and Loan Insurance Corporation was established in 1939. From its inception, the aim of the Corporation was to protect bank deposits in case the financial institution that issued it went bankrupt. The maximum amount the FSLIC insured was $100,000.

In 1989, the FSLIC couldn't prevent the collapse of some banking institutions and was already getting money from taxpayers to continue its operations. Eventually, it went defunct.


How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.