Other Government Insurance Programs

Certain agencies of the U.S. government provide special types of insurance. For example, the Federal Deposit Insurance Corporation insures bank deposits. If an insured bank cannot pay its depositors, the corporation pays them, up to a maximum of $100,000 for each bank account.

Farmers can obtain coverage against crop losses from flood, drought, and other natural perils through the government's Farm Service Agency. The Federal Insurance Administration provides protection against losses from flood damage in areas where floods often occur. The government also provides life insurance to members of the armed forces.