Life Insurance

Any sound financial plan includes life insurance. It provides family protection and financial security to surviving members. Life insurance can also be used to pay off a mortgage, debt, estate taxes, and more. That way, family members aren't left with financial burden they can't meet.

Our insurance specialists can help determine if term life or permanent life insurance is right for you. We'll tailor coverage that meets your needs and your budget.


Term Life Insurance
  • Provides insurance for a specified period of time
  • Provides benefits in the event of death
  • Does not generate cash value
  • Lower premium payments than permanent life insurance
  • May provide more coverage
  • Customized personal service from Solvay Bank Insurance Agency, Inc.
  • Easy application process
  • Multiple carriers to do rate-shopping for you

There are many terms used in life insurance. To help you stay better informed to help in your decision as you consider life insurance, we have provided a glossary of insurance definitions.

Permanent Life Insurance
  • Lifetime coverage
  • Premium payments build cash value
  • Cash value is tax deferred
  • Earns dividends
  • Can borrow (loan) from the cash value
  • Premiums never increase
  • Will not require requalifying medical exam since term does not expire
  • Customized personal service from Solvay Bank Insurance Agency, Inc.
  • Easy application process
  • Multiple carriers to do rate-shopping for you

Read more information on the permanent life insurance plans available from Solvay Bank Insurance Agency, Inc.


Mortgage Protection

As a homeowner, you've made a substantial investment. With Solvay Bank, you have several options to protect your investment. More importantly, rest assured that whatever tomorrow brings, your family will have a place to call home.

Mortgage Disability Insurance

  • Low-cost way to protect investment if you suddenly become disabled
  • Covers monthly mortgage payments
  • Cost based on age, gender, and monthly mortgage payment
  • Cost will not increase as you grow older
  • Premium included with your regular mortgage payment

Mortgage Protection Life Insurance

  • Pays off remaining mortgage balance in case of death
  • Both you and your spouse are eligible for coverage
  • Individual coverage available
  • Coverage for non-spousal co-borrower available
  • All persons must request coverage before age 60
  • Coverage adjusts automatically with the decreasing amount of your mortgage balance

Insurance and fixed annuities are offered through Solvay Bank Insurance Agency, Inc., a subsidiary of Solvay Bank. Insurance policies are obligations of the insurers that issue the policies. Solvay Bank Insurance Agency, Inc. is licensed to sell insurance in New York State and acts as agent for the issuing insurers.

Investment and insurance products ● are not deposits ● are not FDIC-insured ● are not insured by any government agency ● have no bank guarantee ● may go down in value.