GringoPost | Cuenca, Ecuador: General question about COSEDE insurance amounts on deposits

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General question about COSEDE insurance amounts on deposits

I'm considering a move to Cuenca and am curious about the cumulative insurance coverage on hypothetical multiple deposits. Let's say I buy five $30,000 one-year CDs from five different institutions. Am I completely covered for the total of $150,000?

Another question: Would I need to diversify among five different institutions, or would five separate accounts suffice? Thank you, in advance, for your input.

DJ Lynberg