[rolling_stone]

Payable-on-Death (POD) Accounts
Your POD account is insured up to $250,000 for each beneficiary.
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However, there are some requirements, including:

The account title must include a term such as:
payable-on-death
in trust for
as trustee for
Your beneficiaries must be identified by name in your bank’s deposit account records.
You can only name “qualifying” beneficiaries. These would be your:
spouse
child
grandchild
parent
sibling
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Others—including in-laws, cousins, and charities—do not qualify. Therefore, if you set up a POD account naming your three children as beneficiaries, each child’s interest would be FDIC insured for up to $250,000, and your account could have $750,000 in potential coverage.

https://www.investopedia.com/articles/pf/06/fdicinsurance.asp

[Angelino97]

Therefore, if you set up a POD account naming your three children as beneficiaries, each child’s interest would be FDIC insured for up to $250,000, and your account could have $750,000 in potential coverage.

Wouldn't that be for $1,000,000? You plus your three children?

[rolling_stone]

https://www.investopedia.com/articles/economics/09/fdic-history.asp#:~:text=The%20FDIC%20was%20founded%20in%201933%20to%20boost%20confidence%20in,coverage%20per%20depositor%2C%20per%20account.

history fdic insurance including increases & fees