SelectQuote Insurance Review: Is It Worth It?

You’ve likely seen their name while searching for insurance online, but what is SelectQuote, really? They promise a free and easy way to compare policies, saving you the headache of calling multiple companies yourself. But how does that work, and is it too good to be true? Think of them as an agency, not an insurance company. They act as a middleman, showing you plans from a specific list of carriers they’ve partnered with. This article provides a clear look at the SelectQuote insurance model, explaining how they make money and why their “free” comparison might not give you the full picture.

Key Takeaways

Understand Their Role as a Middleman: SelectQuote is an insurance agency that connects you to a select group of insurance companies. They don’t service your policy, so you’ll work directly with the insurance carrier for claims or coverage questions after you enroll.
Their Comparisons Are Not Comprehensive: While comparing quotes is a great way to shop, SelectQuote only shows you plans from their specific partner companies. This means you won’t see every option available and could miss a more affordable or suitable plan.
You Won’t Have a Dedicated Agent: The call center model means you will likely speak with a different person each time you call. If you prefer building a long-term relationship with one trusted advisor, you may want to consider an independent broker.

What Is SelectQuote?

You’ve likely seen their commercials or come across their name while searching for insurance online. So, what exactly is SelectQuote? In simple terms, SelectQuote is an online company that helps people shop for and buy various types of insurance policies. Think of it as a digital marketplace designed to make finding coverage a bit easier. They gather quotes from a network of different insurance carriers, allowing you to compare options for life insurance, auto and home insurance, and, of course, Medicare plans.

The main idea is to save you the time and effort of calling multiple insurance companies one by one. Instead of you doing all the legwork, they present you with several choices from their partner companies. This comparison model is their central promise: helping you find a policy that fits your needs and budget without the hassle of extensive research. They aim to be a one-stop shop where you can review different plans side-by-side and get help from one of their licensed agents to complete the purchase. You can learn more about the company’s history and structure from their Wikipedia page.

Company History and Corporate Details

To get a better sense of the company you might be working with, it’s helpful to look at its background and structure. SelectQuote has been around for quite some time and has grown into a major player in the insurance marketplace. Understanding their history and corporate status can give you context for how they operate today.

From Founding to Public Offering

SelectQuote is not a new startup; it was founded back in 1985, giving it decades of experience in the insurance industry. For most of its history, it operated as a private company. However, that changed on May 21, 2020, when it became a publicly traded company on the New York Stock Exchange. This means anyone can buy shares of their stock, and it reflects the company’s significant growth and expansion over the years. This transition from a private to a public entity is a major milestone that speaks to its scale and position in the market.

Accreditation and Market Presence

When you’re dealing with insurance, you want to know you’re working with a legitimate business. SelectQuote is an accredited insurance agency with the Better Business Bureau, which is a positive indicator of their standing. They have successfully connected millions of customers to a wide range of insurance carriers for life, health, auto, and home policies. Their large market presence shows they are a significant intermediary in the insurance world, but it’s important to remember they are one of many avenues for finding coverage.

Leadership and Company Size

The size of a company can often tell you a lot about the kind of experience you can expect. As of 2023, SelectQuote employed approximately 4,292 people. This large workforce powers their call-center-based model, which is designed to handle a high volume of inquiries from across the country. Financially, the company’s size is also notable. In 2022, the company reported revenues of $764.0 million. These figures paint a picture of a large corporation, which is different from the more personalized service you might find at a smaller, independent agency.

How Does SelectQuote Actually Work?

The process of using SelectQuote is pretty straightforward. You start by providing some basic information about yourself and the type of coverage you’re looking for. From there, their technology and agents compare plans from the many insurance companies in their network. Their goal is to find a policy that matches your needs at a competitive price.

One of the most common questions people ask is, “How much does this cost?” Using SelectQuote’s comparison service is free for you. They make their money from commissions paid by the insurance companies whenever a customer buys a policy through them. This is a standard practice in the industry, but it’s an important detail to understand as you consider your options.

Beyond Insurance: Healthcare Services Division

It’s worth noting that SelectQuote has grown beyond its role as an insurance marketplace. The company now operates a healthcare services division designed to offer more integrated support to its customers. This includes a pharmacy service, SelectRx, which helps with prescription management. They also introduced a program called Population Health, which focuses on reducing overall healthcare costs and preventing problems caused by medications. This expansion shows they are aiming to be more than just a place to buy a policy. For a company that has been operating since 1985, this move into broader health support is a key part of their modern strategy.

Is SelectQuote an Insurance Company or a Broker?

This is a key distinction to make: SelectQuote is an insurance agency, not an insurance company. They don’t create the insurance policies, underwrite the risk, or handle claims. Instead, they function as a broker or a middleman. Their role is to connect you with the various insurance companies they partner with.

Think of it this way: if you buy a policy through SelectQuote, your contract is with the actual insurance carrier (like Aetna or Cigna), not with SelectQuote itself. If you ever need to file a claim or have a question about your coverage details, you’ll work directly with that insurance company. SelectQuote’s job is to facilitate the initial sale and get you set up with a plan.

What Types of Insurance Does SelectQuote Offer?

SelectQuote acts as a one-stop shop for several key types of insurance. Instead of being an insurance company themselves, they are a broker. This means they work with a network of different insurance carriers to help you compare quotes and find a policy that fits your needs. Their agents are licensed to sell plans from these partner companies, covering everything from life and health to home and auto. Let’s look at the main areas they cover.

Comparing Life Insurance Plans

SelectQuote built its reputation on life insurance, and it’s still a major part of their business. They are known as one of America’s largest sellers of term life insurance. Their process involves comparing policies from various well-known insurance companies to find competitive rates for you. This is helpful if you’re looking for straightforward, affordable coverage for a specific period, like 10, 20, or 30 years. By focusing on term life, they aim to connect you with a policy that protects your family financially without the higher costs often associated with whole life insurance.

Finding a Medicare Plan

Beyond life insurance, SelectQuote has a significant presence in the Medicare market. They can help you explore different Medicare plans, including Medicare Advantage (Part C), Medicare Supplement (Medigap), and prescription drug plans (Part D). Their agents will walk you through options from various private insurance companies that are contracted with Medicare. The goal is to simplify the complex world of Medicare by presenting you with several plans and their costs side-by-side. This comparison model is designed to help you find a plan that matches your health needs and budget.

Bundling Auto & Home Insurance

SelectQuote has also expanded into property and casualty insurance, offering both auto and home insurance. Similar to their other services, they let you compare quotes from multiple providers at once. This can save you the time and effort of shopping around with individual companies. Whether you’re looking to insure your car, your house, or bundle them together for a potential discount, their platform is set up to find competitive coverage options. This service makes it easier to secure the right protection for your most valuable assets.

How Does SelectQuote Compare to Other Options?

When you’re looking for insurance, you’ll find there are a few different ways to shop. You can go directly to an insurance company, use a large comparison site like SelectQuote, or work with an independent broker. Each path has its own structure, and understanding how they differ is the first step toward finding the right coverage for you. SelectQuote is a well-known name, but it’s helpful to look at how their model works, especially when it comes to the choices they can offer and how their agents operate. This will give you a clearer picture of what to expect and help you decide if their approach aligns with your needs.

Which Insurance Companies Do They Partner With?

One of the most important things to understand is that SelectQuote only compares plans from a small group of insurance companies they partner with. This means you might not see all the available options, and you could miss out on a better or cheaper plan from a company they don’t work with. While seeing a handful of quotes is better than seeing just one, it doesn’t give you a complete view of the market. An independent Medicare broker, on the other hand, isn’t tied to a specific set of carriers. They can pull quotes from a much wider range of companies, giving you a more comprehensive comparison to ensure you find the best possible fit.

Is a Free Comparison Service Worth It?

You might be wondering how SelectQuote makes money if their service is free. It’s simple: using SelectQuote is free for you because they earn money through commissions paid by the insurance companies when you buy a policy through them. This is a standard practice in the insurance industry. Whether you use a large agency like SelectQuote or a local independent agent, you won’t pay a fee for their help. The price of the insurance plan is the same no matter how you buy it. The commission is already built into the premium, so you can get expert guidance without any extra cost.

How Are SelectQuote Agents Paid?

Because SelectQuote earns money from commissions when people buy policies through them, their agents are also paid by commission. This is a key detail to keep in mind. A commission-based structure can sometimes create a sales environment focused on closing a deal quickly. While many agents are ethical and helpful, the model itself can create pressure. When you’re making a decision as important as your health coverage, you want to feel confident that your agent’s primary goal is to find the right plan for you, not just to make a sale. This is why many people prefer working with a dedicated agent who can offer personalized guidance for the long term.

The Claim of Unbiased Advice

SelectQuote often presents itself as a source of unbiased advice, but it’s important to look at how their business is structured. As an agency, their primary role is to connect you with the insurance companies in their network. Because they only show you plans from these specific partners, their comparisons are not fully comprehensive. You won’t see every option available in your area, which means you could easily miss a more affordable or suitable plan from a company outside their network. This limited selection, combined with a commission-based sales model, means the advice you receive is tailored to the products they can sell. True unbiased guidance comes from having a complete view of the market, ensuring the recommendation is based solely on your needs, not on a pre-approved list of carriers.

The Pros and Cons of Using SelectQuote

When you’re considering a service like SelectQuote, it’s smart to weigh both the good and the bad. They offer a convenient, no-cost way to compare insurance plans, but there are significant limitations to be aware of. Understanding the full picture—from their sales process to their business model—is the best way to decide if they’re the right fit for your needs. Let’s break down the potential advantages and disadvantages.

The Upside: What SelectQuote Does Well

SelectQuote has built a name for itself as one of America’s top agencies for term life insurance. Their main appeal is straightforward: they help you find competitive pricing by comparing plans from a number of highly-rated insurance companies. For many, this is a much simpler approach than calling each carrier individually. The best part is that this comparison service is completely free to use. SelectQuote makes its money from commissions paid by the insurance companies when you buy a policy, so you won’t receive a bill from them for their help.

Workplace Culture as a Positive Indicator

It’s often said that how a company treats its employees reflects how it will treat its customers. On this front, SelectQuote has earned some notable praise. The company is officially recognized as a “Great Place To Work,” an award based on direct employee feedback. A remarkable 81% of their employees say it’s a great place to work, which stands out when compared to the 57% average for a typical U.S. company. This certification suggests a culture where people feel welcomed, respected, and have the resources they need to do their jobs well. For you as a potential customer, this can be a reassuring sign. A positive work environment often leads to happier, more engaged agents who are likely to provide better service.

The Downside: Where SelectQuote Falls Short

A major drawback is that SelectQuote only works with a select group of insurance companies. This means you’re only seeing a small slice of the market and could easily miss a more suitable or affordable plan from a carrier not in their network. Beyond limited options, some former customers and employees have reported aggressive sales tactics. It’s also critical to be aware that the company is facing a Department of Justice lawsuit that alleges it participated in a kickback scheme related to enrolling members in specific Medicare Advantage plans.

What Do Customer Reviews Really Say?

Working with SelectQuote is a call center experience. Because of this model, you will likely speak with a different licensed agent every time you call. This makes it challenging to build a trusted relationship with one person who understands your unique situation. While the company maintains a decent overall rating on review sites like Trustpilot, a closer look can be revealing. For example, some reviews of SelectQuote point out that the company rarely responds to negative feedback. This can be a red flag that suggests if you run into an issue, you may have a hard time getting it resolved.

A Closer Look at Negative Review Responses

Every company receives negative reviews from time to time—it’s the response that truly matters. A recurring theme in customer feedback is that SelectQuote often lets negative comments go unanswered. This lack of engagement can be a significant warning sign for anyone looking for reliable support. When a company doesn’t publicly address customer issues, it raises questions about their internal process for resolving problems. If you encounter an issue with your application or need help after enrollment, you want assurance that someone will be there to support you. A failure to respond to public complaints suggests that post-sale customer service may not be a priority, potentially leaving you to sort out issues on your own directly with the insurance carrier.

Can SelectQuote Actually Save You Money?

The short answer is yes, it’s possible. SelectQuote’s entire business model is built on the idea of saving you money by comparing multiple insurance policies at once. Because they aren’t an insurance company themselves, their goal is to connect you with one of their partners. The potential for savings comes from their ability to shop around on your behalf, presenting you with competitive options you might not have found on your own. This process is designed to find a policy that fits your budget without you having to do all the legwork.

How SelectQuote Finds Lower Premiums

SelectQuote functions as a large insurance agency, not an insurance provider. Think of them as a go-between. They act as a middleman, connecting you with various highly-rated insurance companies they have partnerships with. Their agents take your information and then search for policies from these carriers to find a competitive price. While they are widely known as a major seller of term life insurance, they apply this same comparison model to other products, including Medicare plans. By putting multiple options in front of you, they create a competitive environment where carriers are essentially vying for your business, which can lead to lower premium offers.

Why Comparing Multiple Quotes Is a Smart Move

The biggest advantage of using a service like SelectQuote is convenience. Instead of you spending hours researching and calling different insurance companies for quotes, they handle the comparison shopping for you. Their process involves quickly sifting through options from the trusted brands in their network to find favorable rates. Best of all, this service is free for you to use. SelectQuote earns a commission from the insurance company when you purchase a policy through them, so you don’t pay them a fee directly. This allows you to see multiple quotes side-by-side without any upfront cost or obligation.

Analyzing SelectQuote’s Marketing Claims

When you see ads on TV or online, you’re bound to hear some big claims. SelectQuote is no different. Their marketing is designed to catch your attention and build trust, but it’s always a good idea to look a little closer at the language they use. Understanding what their slogans actually mean can help you get a clearer picture of the service they provide and whether it aligns with what you truly need. Let’s break down a couple of their most common marketing points to see what’s behind the curtain.

“America’s #1 Term Life Sales Agency”

SelectQuote often highlights its status as “America’s #1 Term Life Sales Agency,” and this is a significant achievement. It means they have a massive presence in the term life insurance market, connecting a high volume of customers with policies. Their model is built on helping people find competitive prices by comparing plans from a list of well-regarded insurance carriers. This simplifies the shopping process for consumers looking for this specific type of coverage. However, it’s important to remember that this title is specific to term life insurance. Their expertise in that area doesn’t automatically translate to being the top choice for other products, like Medicare plans, which have their own unique complexities.

Availability of No-Exam Policies

Another appealing offer you might see from SelectQuote is the option to get life insurance without a medical exam. This is a great feature for those who want to secure coverage quickly and without the hassle of a doctor’s visit. However, the details matter here. These no-exam policies are typically available only to applicants who are 60 or younger and in good health. For those approaching or already in their Medicare years, this specific benefit may not apply. It serves as a good reminder to always check the fine print and make sure the attractive features you see in an advertisement are actually relevant to your age and health situation.

What to Expect from the SelectQuote Process

If you decide to reach out to SelectQuote, the process is pretty straightforward. From the first phone call to reviewing your plan options, they have a clear system in place. Knowing what to expect can help you determine if their approach is the right fit for your needs. Here’s a breakdown of how it typically works.

What It’s Like to Work with a Licensed Agent

Your journey with SelectQuote begins when you contact them, either by filling out a form online or calling them directly. A licensed agent will then get in touch to discuss your specific situation, health needs, and budget. Based on that conversation, they will present you with a selection of insurance plans. It’s important to remember that the agent will only show you plans from the specific insurance companies that SelectQuote has partnered with. Their role is to guide you through the options within their network and help you complete the application process if you decide to move forward.

Just How Accurate Are the Quotes?

SelectQuote’s main goal is to simplify your search by comparing quotes from multiple insurance carriers at once. The quotes they provide for the plans within their network are generally accurate, reflecting the premiums you would pay for that specific policy. They gather your information and match you with policies from their partners, allowing you to see different price points side-by-side. The idea is to help you find suitable coverage at a competitive price without having to contact each company individually. They focus on showing you options from what they describe as highly-rated insurance companies.

Are There Limits to Your Insurance Options?

While comparing quotes is helpful, the biggest thing to keep in mind is that SelectQuote doesn’t show you the whole picture. They work with a select group of insurance companies, which means their comparison is limited to only those partners. As a result, you won’t see every plan available in your area. There could easily be a more suitable or affordable plan from a company that isn’t in their network, and you would simply miss it. This is why working with an agent who can show you plans from all the major carriers often gives you a much broader and more complete view of the market.

Is SelectQuote the Right Choice for You?

Deciding on an insurance partner is a big step, and it’s all about finding the right fit for your specific needs. SelectQuote has been in business since 1985 and offers a convenient way to compare plans, but their approach isn’t for everyone. Let’s walk through who might find their service helpful and when you might want to explore other avenues. Understanding these differences will help you make a choice you feel confident about.

Who Is a Good Fit for the SelectQuote Model?

SelectQuote can be a great starting point if you value convenience and want to quickly compare quotes from several well-known insurance companies at once. They are particularly known for their work with term life insurance. If you’re comfortable working over the phone with a licensed agent who can present you with a curated list of options, their model could work well for you. Since their service is free and there’s no obligation to buy, it’s a low-risk way to get a general sense of what’s available from their partners. Think of it as a guided shopping experience where an agent brings the options to you.

When Should You Look for an Alternative?

You might want to look at other options if your main goal is to see every single plan available to you. SelectQuote only shows you plans from the specific insurance companies they partner with. This means you could miss out on a more suitable or affordable plan from a carrier outside their network. Some people have also reported feeling pressured by their sales process. If you prefer a more relaxed, comprehensive approach where you can compare all your options without feeling rushed, working with an independent insurance broker who isn’t tied to a small group of carriers might be a better path.

Ready to Start? Here Are Your Next Steps

If you decide that SelectQuote is worth exploring, getting started is straightforward. The first step is to request a free quote, which you can do without any commitment to purchase a plan. You can reach out to them through an online form on their website or by calling them directly. Once you make contact, a licensed agent will get in touch to discuss your needs and walk you through the quotes from their partner companies. You can learn more about their process and begin the quote request by visiting the SelectQuote website.

Frequently Asked Questions

Is SelectQuote an actual insurance company? This is a great question because it gets to the heart of how they work. SelectQuote is not an insurance company. Instead, think of them as a large insurance agency or broker. They don’t create the policies or handle claims. Their role is to connect you with the insurance companies they partner with. So, if you buy a plan through them, your actual insurance policy will be with a well-known carrier, not with SelectQuote itself.

Will I have to pay SelectQuote for their help? No, you will not receive a bill from SelectQuote for their comparison service. Their help is free to you. They make money by receiving a commission from the insurance company after you purchase a plan. This is standard practice in the industry, and the commission is already built into the insurance premium. This means the price of the plan is the same whether you buy it through SelectQuote or another agent.

If I use SelectQuote, will I see all the insurance plans available to me? This is a really important point to understand. You will only see plans from the specific group of insurance companies that SelectQuote has a partnership with. While this gives you more options than just calling one company, it doesn’t show you the entire market. There could be other plans available in your area from companies outside of their network that might be a better or more affordable fit for you.

What happens after I buy a policy through SelectQuote? Once your insurance policy is active, your relationship is with the insurance carrier that issued it, not with SelectQuote. For example, if you need to file a claim, ask a question about your coverage, or find a doctor in your network, you will contact the insurance company directly. SelectQuote’s main role is to help you with the initial shopping and enrollment process.

Will I work with the same agent every time I call? It is unlikely that you will speak with the same person every time you contact SelectQuote. They operate on a call center model, which means you will probably be connected with the next available licensed agent when you call. This is different from working with a dedicated independent agent who you can build a long-term relationship with over the years.