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How to use Life Insurance as an Investment in CanadaDeposits made under a trade name do not benefit from additional deposit insurance coverage. BMO Bank of Montreal; BMO Commercial Bank; BMO Financial. The Federal Deposit Insurance Corporation (FDIC) is an independent agency BMO Bank National Association. Institution Details. Data as of 11/08/ Subject to coverage limits, eligible deposits held with CDIC member institutions are automatically insured; you do not need to apply for deposit insurance. Page.