Actually SIPC doesn’t provide the cash value for equities. They provide you with the original shares which will be worthless if the company goes bankrupt. Its i

Actually SIPC doesn’t provide the cash value for equities. They provide you with the original shares which will be worthless if the company goes bankrupt. Its in the third paragraph of your link. Maybe it would be better to require retirement accounts to be invested in broad indexes to be eligible for a insure for a certain amount of money value. I don’t see how it could be done fairly on single stock base without having big discussions about what kind of events will be covered.