SelectQuote Term Life Insurance Review: Pros & Cons

Shopping for life insurance can feel like a chore. With hundreds of companies out there, it’s hard to know where to start or if you’re getting a good deal. This is where a service like SelectQuote comes in. They aim to simplify the process by letting you compare quotes from several different insurers all at once. By putting multiple options in front of you, they help you shop the market more efficiently. We’re going to take a close look at their most popular product, SelectQuote term insurance, to see if it lives up to the promise of making your search easier and more affordable.

Key Takeaways

Remember They’re a Broker, Not the Entire Market: SelectQuote connects you with a specific group of insurance partners, not every company out there. The options you see are from a limited menu, so you could miss a better-fitting or more affordable plan from a carrier outside their network.
Prepare for the Trade-Offs: The convenience of comparing multiple quotes at once is a clear benefit, but it often comes with persistent sales follow-ups. It’s also important to know that the customer support you receive after buying a policy might differ from your initial sales experience.
Focus on Value, Not Just Price: The lowest premium doesn’t automatically make a policy the best choice. Before committing, ask direct questions, review the fine print, and make sure the coverage truly aligns with your family’s long-term financial needs.

What Is SelectQuote?

If you’ve spent any time looking for insurance, you’ve probably come across the name SelectQuote. They are a large, well-known insurance agency that has been in business since 1985. It’s helpful to think of them as a go-between or a matchmaker. They don’t create their own insurance policies; instead, they connect you with different insurance companies to help you compare plans and find one that fits your needs.

This model can be convenient, but it’s important to understand how it works before you start the process. Because they are a broker, their main role is to present you with options from their specific network of partners. This means the quotes you receive are from a curated list of insurers, not from the entire market. Understanding this distinction is the first step in figuring out if their service is the right choice for you and your family.

How Does SelectQuote Work?

The process of using SelectQuote is straightforward. You start by providing some basic information about yourself, like your age, location, and general health. An agent then takes this information and pulls quotes from the insurance companies they partner with. They’ll present these options to you, explaining the differences in coverage and cost. The goal is to simplify the shopping experience by putting several quotes in front of you at once.

However, it’s essential to remember that SelectQuote is showing you plans from a select group of partners. This means you’re only seeing a slice of what’s available. You could potentially miss out on a better or more affordable plan from a company that isn’t in their network.

What Is an Insurance Broker?

SelectQuote is an insurance broker, not an insurance company. This is a key point. An insurance company (like Prudential or AIG) is the one that actually creates the policy, collects your payments, and pays out a claim. A broker, on the other hand, is an intermediary. They don’t sell their own insurance plans. Instead, they help you compare plans from different insurance companies they have agreements with.

Think of it like using a travel agent who only works with a few specific hotel chains. They can show you great options within that group, but they won’t show you anything from hotels outside their partnership.

Which Insurance Companies Do They Work With?

This is where the limitations of a service like SelectQuote become clear. They only compare plans from a small group of partner companies. For life insurance, this network includes about 11 carriers. While these are often reputable names, it’s a very small number compared to the hundreds of life insurance companies operating in the United States.

Because their agents can only show you policies from this limited list, you won’t see every available option. This means you might miss out on a more suitable or less expensive plan from a company they don’t work with. An independent agent who isn’t tied to a specific network can often provide a much broader view of the market.

A Look at SelectQuote’s Term Life Insurance

When you work with SelectQuote, you’re primarily looking at term life insurance. This type of policy is straightforward and often more affordable than whole life insurance, making it a popular choice for many families. It’s designed to provide coverage for a specific period, or “term,” ensuring your loved ones are financially protected if you pass away during that time. Think of it as a safety net for your biggest financial responsibilities, like a mortgage or your children’s education.

SelectQuote acts as a go-between, connecting you with different insurance carriers that offer these policies. Because they are a broker and not an insurance company, their role is to help you shop the market—or at least, their corner of it. Let’s walk through the specifics of their term life insurance offerings so you can get a clearer picture of what to expect.

Policy Types Offered

First, it’s important to understand that SelectQuote is an insurance agency, not an insurance company. They don’t underwrite or issue policies themselves. Instead, they function as a broker, representing a selection of insurance carriers. When you contact them, their licensed agents help you compare term life insurance plans from their partner companies to find one that fits your needs.

While they focus heavily on term life, they may also offer other products like whole life or final expense insurance. However, their main business model is built around helping you find and apply for a term life policy from one of the insurers in their network.

Coverage and Term Lengths

Term life insurance is named for its key feature: you choose the “term,” or the length of time you want the policy to last. Common term lengths are 10, 15, 20, or 30 years. This flexibility allows you to match your coverage to your financial obligations. For example, you might choose a 30-year term to cover the length of your mortgage or a 20-year term to see your kids through college.

The coverage amount—the payout your beneficiaries would receive—is also up to you. You can select an amount from $50,000 up to several million dollars, depending on your needs and what you qualify for. Understanding the benefits of term life insurance can help you decide if this is the right fit for your family’s financial goals.

Can You Get a Policy Without a Medical Exam?

This is a common question, and the answer is: sometimes. Many traditional term life policies require a medical exam to assess your health and determine your final rate. However, some of the carriers SelectQuote works with offer “no-exam” or simplified issue policies. These can be a great option if you want to get coverage quickly and avoid needles.

Keep in mind that convenience often comes with a trade-off. No-exam policies may have higher premiums or lower coverage limits compared to fully underwritten plans. When you get a free quote, a SelectQuote agent can walk you through the available options and help you weigh the pros and cons of each.

What Affects Your Premium Rate?

Several standard factors determine your life insurance premium: your age, health, gender, lifestyle choices (like smoking), the coverage amount, and the term length you choose. The healthier you are, the lower your rate will likely be.

However, it’s also important to know how SelectQuote’s business model can play a role. Because they only show you plans from their specific network of partners, you’re only seeing a slice of the market. The most competitive rate for you might be with a carrier outside of their network. As we cover in our full review, this is a key limitation to consider. Their agents also work on commission, which is standard in the industry but is good to be aware of.

The SelectQuote Application Process, Step-by-Step

Working with an insurance broker like SelectQuote involves a few key steps, from getting an initial price to receiving the final policy. While SelectQuote facilitates the process, it’s important to remember that the actual insurance carrier is the one that underwrites and approves your policy. The process can take anywhere from a few days to several weeks, depending on the insurance company and whether a medical exam is required. Let’s walk through what you can generally expect when you apply for term life insurance through SelectQuote.

Step 1: Get Your Initial Quote

Your journey starts with getting a quote. You can typically do this online or by speaking with a SelectQuote agent over the phone. You’ll provide basic information like your age, gender, general health status, and the amount of coverage you’re looking for. Based on this, SelectQuote will give you an initial estimate. Their agents will compare rates from their partner companies to show you a range of options. Keep in mind that this first number is just a quote—it’s not a guaranteed rate. The final premium will be determined after the insurance company has fully reviewed your application and medical information.

Step 2: Gather Your Documents

After you’ve reviewed your initial quotes and decided to move forward, a licensed agent will guide you through the formal application. This is where you’ll need to provide more detailed information. It’s a good idea to have personal details handy, such as your driver’s license number and Social Security number. You’ll also be asked in-depth questions about your health history, your family’s medical history, your lifestyle habits (like smoking or drinking), and any potentially risky hobbies. The agent will fill out the application for the insurance carrier you’ve chosen, but it’s your responsibility to ensure all the information is accurate.

Step 3: Complete Medical Requirements

For many term life insurance policies, the next step is a medical exam. SelectQuote will help you schedule this, but the requirements are set by the insurance company, not by SelectQuote. The exam is usually free to you and can be done at your home or office. It’s similar to a basic physical and often includes measuring your height and weight, taking your blood pressure, and collecting blood and urine samples. The examiner will also ask questions about your medical history. Some policies offer no-exam life insurance, but they often come with higher premiums or lower coverage limits.

Step 4: Receive Final Approval

Once the insurance company receives your application and the results from your medical exam, your file goes into underwriting. This is the process where the insurer assesses your risk level and determines your final eligibility and premium rate. This can take several weeks. If you are approved, you will receive a final policy offer. At this point, you can accept the policy and make your first premium payment to put the coverage in force. It’s worth remembering that SelectQuote only presents plans from their specific partners, so the final offer you receive is from one of those companies, not the entire market.

How Does SelectQuote Compare?

When you’re looking at any insurance broker, it’s helpful to see the full picture. Understanding how SelectQuote stacks up in key areas like cost, flexibility, and customer service can help you decide if they’re the right fit for your needs. Let’s look at how their model works for customers.

Rates and Potential Savings

One of the biggest draws of using a service like SelectQuote is the potential for lower rates. Because they let you compare quotes from multiple insurance companies at once, you can see who offers the best price for your situation. In fact, SelectQuote claims that customers can save more than 50% on life insurance by using their platform. While savings are never guaranteed and depend on your health and the coverage you choose, the ability to comparison shop is a definite advantage. It saves you the time and effort of getting individual quotes from each carrier yourself.

Policy Features and Flexibility

The term life insurance policies available through SelectQuote offer a good deal of flexibility. Term life insurance gets its name from your ability to choose the “term,” or the length of time your policy is active. This means you only pay for coverage for as long as you need it—whether that’s 10, 20, or 30 years. This flexibility allows you to align your policy with specific financial goals, like paying off a mortgage or covering your children’s college education. You can find a policy that fits the specific timeline of your financial responsibilities, which is one of the main benefits of term life insurance.

The Customer Service Experience

Customer reviews for SelectQuote present a mixed but informative picture. Many people have positive experiences, highlighting helpful agents who make the application process smooth and straightforward. Customers often appreciate the good communication they receive during the initial sales and quoting stages. However, a common point of frustration seems to arise after the policy is sold. Some clients report a lack of timely communication from the company for follow-up questions or service needs. It’s a good reminder that the support you receive during the sale might differ from the long-term service experience.

How Their Agents Are Paid

It’s important to understand how SelectQuote’s agents make their money. Like most insurance brokers, their agents work on commission. This means they receive a commission from the insurance company when you buy a policy. Additionally, SelectQuote only partners with a select group of insurance carriers. This is a key detail because it means you aren’t seeing quotes from every company on the market. The combination of a commission-based model and a limited list of partners can influence the recommendations you receive. While agents can provide valuable guidance, their advice is based on the products they are able to sell.

The Pros of Using SelectQuote

Working with an insurance broker like SelectQuote can simplify the process of buying life insurance. Instead of contacting multiple insurance companies yourself, you work with one entity that presents you with several options. This approach has a few key advantages that can make finding the right policy a smoother experience. From getting expert advice to saving time and money, let’s look at the main benefits of using SelectQuote for your term life insurance search.

Access to Licensed Agents

One of the biggest benefits of using SelectQuote is that you get to work directly with licensed insurance agents. Life insurance can feel complicated, with its own language of terms, conditions, and fine print. Having a professional to walk you through the details can be incredibly helpful. These agents can answer your specific questions, explain the differences between policies, and help you understand what you’re actually buying. They are trained to help you find a policy that fits your needs, which can provide valuable peace of mind as you make this important financial decision.

Compare Multiple Quotes at Once

Instead of visiting a dozen different websites to get quotes, SelectQuote lets you see prices from multiple insurance carriers all in one place. You provide your information once, and their system pulls up various term life insurance options for you to compare side-by-side. This makes it much easier to see how different companies stack up on cost for the same amount of coverage. Seeing everything laid out clearly helps you spot the best value without the hassle of repeating the same information over and over again. It streamlines the entire shopping process from the very first step.

Save Time and Potentially Money

This one-stop-shop approach naturally saves you a lot of time. Think about the hours it would take to research and request quotes from each insurance company individually. SelectQuote does that heavy lifting for you. Because you’re comparing several options at once, you also have a better chance of finding a more affordable rate. When insurers compete for your business, you’re more likely to secure a competitive price. By presenting you with a range of quotes, SelectQuote puts you in a better position to choose a policy that fits comfortably within your budget.

Access to Educational Resources

Beyond just selling policies, SelectQuote also provides a good collection of educational materials on its website. If you’re new to life insurance or just want to brush up on the basics, their online life insurance resources can be a great starting point. You can find articles and guides that explain different types of policies, define common terms, and offer tips for choosing coverage. Having access to this information allows you to learn at your own pace and feel more confident when you speak with an agent. It empowers you to ask the right questions and make a well-informed choice for your family’s future.

The Cons of Using SelectQuote

While working with a large broker can seem convenient, it’s important to look at the full picture. Understanding the potential downsides can help you make a more informed decision about where you get your insurance advice. Some of the most common concerns people raise about working with a large-scale operation like SelectQuote involve their sales process, the support you receive after you sign up, and the range of choices they actually provide.

For many, choosing an insurance plan is a significant decision, and feeling pressured or rushed is the last thing you want. It’s also a long-term commitment, so knowing you have reliable support after the paperwork is signed is crucial. Finally, getting the right plan depends on seeing all your options, not just a curated list. Let’s walk through some of these potential drawbacks so you can weigh them for yourself.

Aggressive Sales Communication

One of the most frequent complaints from potential customers is the volume of communication they receive after their first inquiry. Many people report a high number of calls and emails, which can feel overwhelming. This approach often stems from a high-pressure sales environment where agents are focused on meeting ambitious goals. While their agents are licensed, this aggressive model can create a frustrating experience if you prefer to take your time and consider your options without constant follow-ups. It’s something to be aware of if you’re just starting your research and aren’t ready to make a quick decision.

Post-Sale Customer Support

After you’ve selected a policy and signed on the dotted line, you want to feel confident that you have support for any future questions or issues. Some clients have expressed frustration with a lack of timely communication and follow-up from the company after the initial sale is complete. When you’re dealing with something as important as your insurance coverage, feeling unsupported can be unsettling. It’s essential to have a reliable point of contact who can help you with policy questions, claims, or annual reviews down the road.

Limited Policy Options

A common misconception is that a large broker shows you every plan on the market. In reality, SelectQuote only presents plans from the insurance companies they have partnerships with. This means you may not be seeing every available plan in your specific area. Because their selection is limited to their network, there’s a chance you could miss out on a policy from another carrier that offers better coverage, a lower premium, or is simply a better fit for your personal health and financial needs. True comparison shopping requires a look at the entire market, not just a slice of it.

Not All Carriers Are Represented

Building on the last point, because SelectQuote works with a specific portfolio of insurance carriers, the quotes you receive are drawn from a limited pool. For example, their life insurance side works with about 11 companies. This same principle applies to their other insurance products. When you’re only seeing options from a handful of carriers, you’re not getting a complete, unbiased view of your choices. The best plan for you might be with a company that isn’t in their network, which is a critical limitation to consider as you search for the right coverage.

Is SelectQuote Right for You?

Deciding on an insurance broker is a personal choice. SelectQuote can be a great tool for comparing policies, but it’s important to go in with your eyes open. Thinking through your specific needs and knowing what to look for will help you determine if their service is the right fit for you and your family.

Key Questions to Ask Before You Buy

Before you commit to a policy, it’s wise to ask some direct questions. A good agent will be happy to answer them. Start by asking how they get paid and which insurance companies they represent. This helps you understand any potential biases in their recommendations. Another important question is, “What could make my insurance price change in the future?” Knowing the factors that could affect your premium down the road is essential for long-term financial planning and avoiding surprises. Getting clear answers to these questions will give you confidence in your decision.

How to Read the Fine Print

One of the most important things to understand about SelectQuote is that they only show you plans from the insurance companies they partner with. This means you won’t see every single plan available in your area. You might miss out on a better rate or a more suitable policy from a company outside their network. For example, while SelectQuote compares plans from several carriers, it only works with about 11 life insurance companies. This isn’t necessarily a deal-breaker, but it’s a limitation to keep in mind as you evaluate your options.

Tips for Choosing Your Policy

When you’re looking at quotes, try not to focus only on the monthly premium. The cheapest plan isn’t always the best value. Be sure to consider the total potential cost, including deductibles and out-of-pocket expenses. Also, double-check that the plan covers your specific needs, like access to your preferred doctors or prescription medications. Most importantly, take your time. Don’t feel pressured to sign up for a policy right away, especially if you have lingering questions or feel unsure. A good decision is a well-thought-out one.

Finding the Right Support

It’s helpful to know how the system works behind the scenes. SelectQuote agents receive a commission from the insurance company when they sell a policy. This is a standard practice in the industry, but it’s good information to have. Also, be prepared for follow-up communications. Many customers report getting a lot of calls and emails after they request a quote. If you prefer less contact, you may want to be upfront about your communication preferences from the start. Finding an agent who respects your time and provides clear, honest support is key.

Can You Customize Your SelectQuote Policy?

One of the biggest questions people have when buying insurance is, “Can I make this policy fit my life?” The answer is yes, and this is where working with a broker like SelectQuote can be helpful. Because they offer policies from different insurance companies, you have a built-in layer of choice from the start. But customization goes deeper than just picking a carrier. It’s about fine-tuning the details of the policy itself to match your family’s needs and your budget.

Think of it like tailoring a suit. You start with a standard size, but the final product should fit you perfectly. A life insurance policy works the same way. You can adjust the coverage amount, the length of the term, and even how you pay for it. These aren’t just minor details; they are the key components that make a policy a true financial safety net for your loved ones. The goal is to create coverage that protects your family without straining your finances. Let’s walk through the specific ways you can tailor a term life insurance policy through SelectQuote.

Exploring Your Flexibility Options

When you start looking at insurance, it’s easy to feel like you have to pick a one-size-fits-all plan. But you have more control than you might think. SelectQuote provides a range of insurance coverage options that allow you to build a plan that truly protects your family. While they offer home and auto policies, our focus here is on life insurance, where this flexibility is especially important. You can decide on the core components of your policy, ensuring the final plan aligns with your specific financial responsibilities and long-term goals. This is your opportunity to create a safety net that is genuinely designed for your family’s future.

Adjusting Your Coverage Amount

The coverage amount, or death benefit, is the money your beneficiaries will receive. With term life insurance, you get to choose this number. This is one of the most critical decisions you’ll make, as it directly impacts both your premium and the level of protection your family gets. Do you need to cover a mortgage, replace your income for a few years, or fund a child’s education? According to SelectQuote, one of the main benefits of term life insurance is the ability to select a coverage amount that matches these financial goals. It’s a balancing act—you want enough coverage to secure your family’s future without paying for more than you truly need.

Choosing Your Term Length

“Term” simply refers to how long the policy lasts. Do you need coverage for 10, 20, or 30 years? The right term length depends entirely on your life stage and what you want to protect. For example, if you have 15 years left on your mortgage, a 15-year term might make sense. If your kids are young, you might want a 20- or 25-year term to see them through college and into financial independence. SelectQuote allows you to customize the length of your policy, ensuring you have protection during the years your family needs it most without paying for it longer than necessary.

Reviewing Payment Options

How you pay your premium can also be customized to fit your budget. Most people are used to monthly bills, and that’s certainly an option. However, you can often choose other payment schedules. SelectQuote offers several flexible payment options, including monthly, quarterly, semi-annual, or even annual payments. Paying annually can sometimes come with a small discount, which is a nice perk if it works for your budget. Choosing a payment plan that feels comfortable is a simple but effective way to make sure your life insurance policy is a seamless part of your financial plan.

Frequently Asked Questions

Is SelectQuote the company that will actually be paying my life insurance claim? No, they are not. This is a really important distinction to understand. SelectQuote is an insurance broker, which means they act as a matchmaker between you and an actual insurance company. The insurance company (like Prudential or AIG, for example) is the one that issues your policy, collects your payments, and is responsible for paying the claim to your beneficiaries. SelectQuote’s role is to help you compare plans from their network of partners and complete the application.

Am I seeing all my options when I get quotes from SelectQuote? You are only seeing options from the specific insurance companies that SelectQuote has partnered with. While they work with several well-known carriers, their network is not a complete picture of the entire insurance market. This means there could be other companies with more suitable or affordable plans that you won’t see through their service. An independent agent who isn’t tied to a specific network can often show you a much wider range of choices.

Why might my final premium be different from the initial quote I received? The first number you see is just an estimate based on the basic information you provide. Your final, official premium is determined by the insurance company after they have fully reviewed your application and medical information. This process is called underwriting. Factors like the results of a medical exam, your detailed health history, and lifestyle choices are all assessed to determine your final rate, which can be higher or lower than the initial quote.

How do SelectQuote agents get paid? Like most in the insurance industry, SelectQuote agents work on commission. They are paid by the insurance company when you purchase a policy through them. This is a standard practice, but it’s helpful to know. Because they are compensated based on sales and can only offer plans from their partner carriers, the recommendations you receive will be drawn from that specific pool of products.

What’s the main benefit of using a service like SelectQuote instead of going to an insurance company directly? The biggest advantage is convenience. Instead of you having to research and contact multiple insurance companies one by one, SelectQuote does that work for you. They present you with several quotes from their partners all at once, which saves you time and makes it easier to compare prices for similar coverage. This one-stop-shop approach can streamline the initial shopping process significantly.