The FDIC provides deposit insurance in the amount of $250,000 per per ownership category. As such, individual accounts are insured up to $250,000 at each bank, and joint accounts can be insured up to $500,000 at each bank ($250,000 per depositor). Since individual accounts and joint accounts are considered to be different ownership categories, a couple can obtain up to $1,000,000 of insurance at each bank by opening 3 separate accounts: one account in the name of each individual, and a third account held jointly. Using a trust account is another way to obtain additional FDIC insurance coverage.
FDIC coverage is a government program and is provided directly by your banks, not by Max. You can learn more about FDIC insurance coverage by visiting https://www.fdic.gov/. YElectronic Deposit Insurance Estimator