Savings insurance is a type of financial protection that guarantees the safety of your savings in case of bank failure or insolvency. It ensures that your deposits, up to a certain limit, are protected and can be recovered, providing peace of mind to savers. In many countries, this protection is offered by government-backed organizations, such as the Federal Deposit Insurance Corporation (FDIC) in the United States. This insurance typically covers various types of accounts, including checking accounts, savings accounts, and certificates of deposit. By having savings insurance, individuals can confidently deposit their money, knowing that their funds are secure even in uncertain economic times.