Quantcast
WealthVisor.com
Dennis Cherenkov

Dennis Cherenkov

Licensed Financial Representative

Primerica Financial Services

Citrus Heights, CA

Be the first to review Dennis Cherenkov — write a review

Call 916-333-• • • •  Show

6929 Sunrise Blvd Ste108

Citrus Heights, CA 95610

Website • Twitter • Facebook • LinkedIn • Blog
Send a message
I am a financial professional who provides customers with the best financial service possible. I help families to protect themselves and build wealth the right way.

Services Provided by Dennis Cherenkov

Investment Management, College Planning, Annuities, Life Insurance, Term Life Insurance, Long Term Care Insurance

Payment
  • Commission
Languages
  • English
  • Russian

Background Information for Dennis Cherenkov

Education
  • MTI College
    Accounting
    2004
Licenses & Credentials
  • Licensed Health Insurance Agent
  • Licensed Life Insurance Agent
  • Series 26 Funds and Variable - Principal
  • Series 6 Mutual Funds and Variable Annuities
  • Series 63 Uniform Securities Law
Awards
  • 2010 — na (na)
Previous Work Experience

Independent Financial Representative Primerica Financial Services

2009 —  Present

Recently Answered Questions by Dennis Cherenkov

Showing 3 out of 124 Answered Questions:

1 of 2 people found this helpful
Was this answer helpful? YES | NO

Because the paperwork can take some time to process, I would elect to have the payments start in a month. However, I probably would not buy an immediate income annuity, ever. That type of product is designed to be good for the insurance companies and the agents, not to necessarily help the clients.



1 additional answer | Answered 8 months ago
Was this answer helpful? YES | NO

Different insurance products have different guidelines because different insurances cover different risks. While some questions on the applications are similar, such as the health background, the overall rates might not be affected in one insurance while significantly being affected in another type of insurance. For example just because a person is in a high risk category for disability insurance, it does not mean that person is also in a high risk category for life insurance. That is simply because different insurances have different factors and perils to consider.



Answered 8 months ago
2 of 6 people found this helpful
Was this answer helpful? YES | NO

Buying term insurance would make a lot more sense than buying that universal life (UL) policy Thomas was talking about. Don’t be “duped” into thinking a cash value life insurance policy would make sense ever over a term policy. Let use Thomas’ example, a 20yr level term policy at $25 per month vs. a UL policy at $75 with a $15,000 “guaranteed” cash value after 20 years, both for a death benefit of $100k.


The terrm policy over 20 years would cost $6k ($25 per month x 20 years = $6k). The UL policy over 20 years would cost 18k ($75 per month x 20 years). Because there is a cash value of $15k, Tom concluded that because of that the life UL policy over 20 years only cost $3k and thus was cheaper than term. Sounds logical but actually it is a very stupid financial plan. Here is why…

Keep in mind, for 20 years or 240 months you were paying an extra $50 dollars a month which adds up to $12k ($50 per month x 240 months = $12k). So after giving the company $12k extra, you are guaranteed $15k. Wow that is only $3k of growth over 20 years, how pathetic! That averages to about 2.147% rate of return on your money. And also keep in mind if you die, the insurance keeps your “savings”, your family would only get the death benefit $100k.

Now lets see what would happen if you bought the “pure” term insurance policy and invested the difference. In a CD that averaged 3% you would have about $16.5k and if you would die your family would not lose your savings. But lets now talk about some real investing. If you would invest that difference of $50 per month into a good mutual fund that would grow an average of 12% you would have about $50k. And if you would die, your family would be left with the same $100k death benefit, and whatever amount you would have in your investment account.

I don’t know about Thomas but I would rather have $50k instead of $15k after 20 years. Oh and by-the-way if you if I fall on hard times throughout the process like Tom suggested could happen, I can just put the $50 a moth savings plan on hold and still pay the term insurance premium or STILL use my savings to pay for those premiums using cash not the “cash value”. Oh also keep in mind life insurance salesmen usually fail to mention that the first 2-3 years the cash value in the policies do not build up even you pay extra per month. That money goes to the company and towards commissions for the salesmen, which in a way is a 100% loss in your savings program inside any kind of cash value life insurance “product”.

Cash value life insurance is a rip-off, in many more ways do not get “duped”. By term insurance, protect your family, get a good financial plan going. Get out of debt and start properly investing.

Good luck.

4 additional answers | Answered 8 months ago

View all questions answered by Dennis Cherenkov »

Reviews of Dennis Cherenkov

Have you worked with Dennis Cherenkov?

WRITE A REVIEW