A strategy to maximize deposit insurance for INR 20 lakhs involves creating multiple FDs: one in the individual's name, one in the mother's name, and two joint accounts with the mother as the primary beneficiary in both.
"one FD will be in your name second FD will be in mommy's name third FD is a joint account with Mommy where you are the first beneficiary and the last 5 LS will be a joint account with Mommy where she is the first beneficiary"
