<prompt> Human: An acquaintance recently got a lot of cash. Roughly 1 million and rising. What should the person do as far as storing it? Is there a better option than throwing it in a bunch of different banks?  <response>: FDIC insurance is the bare-bones free insurance. It is not the only insurance available. There are insurance policies that you can buy that insure amounts greater than 250,000. Talk to a financial planner for specifics. Source: I have over 250,000 in an account with the excess covered by such a policy. 