The second proposed bailout plan for U.S. financial firms may include a provision for more than doubling bank deposit insurance.

Currently, the Federal Deposit Insurance Corp, insures each bank account for up to $100,000 -- a limit unchanged since 1980. Those who exceed that limit in their own accounts can open multiple accounts to increase coverage, USA Today reported Wednesday.

But, the FDIC said 37 percent of bank deposits aren't covered, most of them "miscellaneous small-business accounts," said Camden Fine, president of the Independent Community Bankers of America.

Both presidential candidates Barack Obama and John McCain have endorsed the provision of increasing the insurance limits to $250,000.

FDIC Chairman Sheila Bair said the move would "provide the dual benefits of providing additional liquidity to banks for lending as well as provide some additional reassurance to depositors above the current limits."

But, banking analyst Bart Narter told USA Today the move was unnecessary. After the failure of 13 banks this year, the move also puts pressure on the FDIC, which is "under quite enough pressure as it is," he said.