No. This is not a bank deposit, therefore FDIC insurance does not apply, as FDIC similarly does not apply to money market mutual funds or other securities or investment products. Note that FDIC has limits; if you have more than $250k with a bank that enters bankruptcy you could become a general creditor to the bank and not be assured of receiving a full return of principal.
Escrow Shield Plus offers a guarantee against principal loss from AXA Equitable. Guarantees are based on the claims paying ability of AXA Equitable. (more on principal guarantee)
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Posted in: Services: Escrow Shield Plus