An annuity helps you transform part of your savings into a guaranteed income stream you can’t outlive. Whether you’re planning for retirement or already there, annuities can provide stability, peace of mind, and confidence in your financial future.
An annuity is a financial contract between you and an insurance company designed to grow your money safely and provide income over time.
You can think of it as a retirement paycheck you create for yourself - with options to receive payments for a fixed number of years or for life.
At B.B. Financial Group, we offer a wide range of annuity products to fit every financial plan:
steady, guaranteed interest rates.
growth potential tied to the market, with protection from losses.
higher growth potential, with more market exposure.
This structure allows you to protect your principal, minimize market risk, and enjoy a predictable income stream regardless of market ups and downs.
An annuity might be right for you if you:
An annuity may not be ideal if you:
At B.B. Financial Group, we help you understand how different annuities fit into your larger retirement strategy — so you can make decisions with confidence.
We know that every retirement plan is unique. Our licensed advisors take the time to understand your full financial picture – income, goals, family needs, and risk tolerance – before recommending an annuity that fits.
Here’s what you can expect:
Turn your savings into steady, guaranteed payments for as long as you live.
Shield your principal from market downturns while still earning steady growth on your money.
Watch your investment grow faster by deferring taxes until you withdraw.
Supplement your pension or Social Security with guaranteed income that keeps your lifestyle on track.
Explore annuity options that balance growth, security, and lifetime income potential.
Fixed annuities provide guaranteed interest rates and steady, predictable growth, making them a safe choice for conservative investors who want dependable returns without market risk. They’re ideal for preserving principal while earning consistent, tax-deferred income over time.
Fixed indexed annuities combine security and opportunity - your money grows based on a market index such as the S&P 500, yet your principal is always protected by a 0% floor. This balance of safety and growth potential makes them perfect for those who want upside participation without the fear of losing value in downturns.
Variable annuities offer investment flexibility and market-driven growth potential by allowing you to allocate funds across different investment subaccounts. With optional income riders, they can also provide guaranteed lifetime income, blending growth opportunity with long-term financial security.
Immediate annuities turn a lump sum into a stream of guaranteed payments that can start within as little as 30 days. They’re an excellent choice for retirees seeking a stable, predictable income source right away, helping to cover essential living expenses with peace of mind.
Deferred annuities let your money grow tax-deferred until you decide to begin withdrawals, often years in the future. This allows your investment to compound faster and can create a powerful foundation for long-term retirement income planning and future financial independence.
Premiums vary based on your age, health, coverage amount, and the type of policy you choose. Generally, expect to pay significantly more than term insurance—often 5 to 15 times more for the same death benefit. However, remember you’re also building cash value and securing lifetime protection. Contact us for a personalized quote based on your specific situation.
Yes, you can surrender your policy and receive the accumulated cash value as a lump sum. However, this terminates your coverage, and you may owe taxes on any gains above what you’ve paid in premiums. Alternatively, you can take loans against the cash value without surrendering the policy.
Cash value begins accumulating immediately, but it grows slowly in the early years as the insurance company recovers policy setup costs. You typically won’t see substantial cash value until 5-10 years into the policy. Patience is key—this is a long-term financial tool.
Whole life insurance is a conservative savings vehicle, not a high-growth investment. Cash value grows at a steady, guaranteed rate—typically 1-4% annually. It won’t match stock market returns, but it also won’t lose value in market downturns. Think of it as the foundation of your financial plan, not your entire investment strategy.
If you stop paying, your policy may lapse after a grace period (usually 30 days). However, if you’ve accumulated sufficient cash value, your policy might convert to reduced paid-up insurance, providing a smaller death benefit with no future premiums required. Some policies also offer an automatic premium loan feature that uses cash value to cover missed payments.
It depends on the policy and coverage amount. Some whole life policies require a medical exam and health questionnaire, which typically results in better rates if you’re healthy. Guaranteed issue whole life insurance (often available for ages 66-85) requires no medical exam but offers lower coverage limits and higher premiums.
A common guideline is 10-15 times your annual income, but your actual needs depend on your debts, income replacement needs, final expenses, and financial goals. Add up your mortgage balance, other debts, estimated funeral costs, college funding needs, and the years of income your family would need. Our advisors can walk you through a detailed needs analysis.
Both are permanent insurance types, but whole life offers guaranteed cash value growth and fixed premiums, while universal life offers flexible premiums and cash value growth tied to market indices or current interest rates. Whole life is more predictable; universal life offers more flexibility but less certainty.
