What is the amount that may be recovered personally by Ana from PDIC given the described deposit accounts?

What is the amount that may be recovered personally by Ana from PDIC given the described deposit accounts?

• A. P850,000
• B. P750,000
• C. P900,000
• D. P400,000

Answer: (B)

PDIC coverage works by protecting up to 500,000 per depositor per bank for all insured deposits. If there are deposits in more than one bank, the protection applies separately to each bank. For joint accounts, the insured amount is shared among the co-owners according to ownership, but no single depositor can receive more than 500,000 from a single bank. In Ana’s situation, one bank has a single-name deposit that is fully within the 500,000 limit, so that portion is recoverable in full. The other bank has a joint deposit with another person, and Ana’s personal share of that joint account is half of the total joint deposits (assuming equal ownership). If that joint account totals 500,000, Ana’s share would be 250,000. Add those recoveries: 500,000 + 250,000 = 750,000. The remaining 250,000 of the joint account (the other co-owner’s share) would go to them, not to Ana.

PDIC coverage works by protecting up to 500,000 per depositor per bank for all insured deposits. If there are deposits in more than one bank, the protection applies separately to each bank. For joint accounts, the insured amount is shared among the co-owners according to ownership, but no single depositor can receive more than 500,000 from a single bank.

In Ana’s situation, one bank has a single-name deposit that is fully within the 500,000 limit, so that portion is recoverable in full. The other bank has a joint deposit with another person, and Ana’s personal share of that joint account is half of the total joint deposits (assuming equal ownership). If that joint account totals 500,000, Ana’s share would be 250,000.

Add those recoveries: 500,000 + 250,000 = 750,000. The remaining 250,000 of the joint account (the other co-owner’s share) would go to them, not to Ana.