[reaperducer]

I don't want to have to worry that my bank balance will disappear unless I spread it around

If you have enough money to worry about having to spread it around, you have enough money to buy additional insurance for it, and/or enough money to hire someone to take care of those things for you.

"Oh, no! I have $250,000 in savings and now I might have to open another bank account to hold even more money! Woe is me!"

Can you even hear yourself?

[ghaff]

I can also pretty much guarantee that very few individuals with >$250K of savings are keeping it in a bank. It's in a brokerage account in some combination of bonds, money market, and equities.