SelectQuote Life Insurance: Pros, Cons & Costs

Let’s clear up the biggest point of confusion right away: SelectQuote is an insurance agency, not an insurance company. This is a critical distinction. They don’t actually provide your coverage or pay your claims. Instead, they act as a middleman. When you shop for SelectQuote life insurance, their agents connect you with plans from a specific list of partner carriers. While you might search for the ‘Select Quote insurance company,’ it’s crucial to understand their role as a broker. This model has its advantages, but it also has limitations that impact the policy you choose. We’ll break down what this means for you.

Key Takeaways

Understand their business model: SelectQuote is an insurance agency, not a provider. Their service is free to you because they earn a commission from the insurance companies they partner with, which means you’ll only see plans from their specific network.
Recognize the trade-off for convenience: While SelectQuote simplifies shopping by showing you multiple plans at once, your options are limited to their partner carriers. You won’t get a full view of the market, which means you could miss out on a better-fitting plan from another company.
Take control of the process: Before you call, list your doctors, medications, and budget to help guide the conversation. Be prepared for persistent follow-up and remember you can always set boundaries or end a call if you feel pressured.

SelectQuote Explained: What You Need to Know

If you’ve started looking for insurance, you’ve probably seen the name SelectQuote pop up. Simply put, SelectQuote is an online insurance agency that helps people compare and buy different types of policies. They are not an insurance company that provides the coverage themselves. Instead, they work as a broker, connecting you with a variety of insurance carriers so you can find a plan that fits your needs.

Who’s Behind SelectQuote?

SelectQuote has been around for quite a while, getting its start back in 1985. The company was created to make the process of buying insurance simpler. Their goal is to help people find the right coverage to protect their health, family, and property by comparing options from many different insurance companies at once. This long history has made them one of the more established and well-known agencies in the insurance marketplace.

The SelectQuote Process: How It Works

The process for getting quotes is pretty straightforward. You can either call them or fill out a form on their website with your basic information. After you do that, a licensed agent will get in touch with you. This agent will ask questions to understand your specific needs and budget. Based on your conversation, they will show you different plan options from the insurance companies they partner with. Think of them as a personal shopper who gathers different quotes for you to review.

Is SelectQuote a Legit Insurance Service?

Yes, SelectQuote is a legitimate company. They have been in business for decades and are publicly traded on the New York Stock Exchange (NYSE: SLQT). The company is also accredited by the Better Business Bureau and has connected millions of customers with insurance plans over the years. It’s helpful to know that they act as a middleman, earning a commission from the insurance provider when you buy a plan. This is a standard business model for insurance agencies and doesn’t add to the cost of your policy.

Types of Insurance Offered by SelectQuote

SelectQuote positions itself as a one-stop shop for many of your insurance needs. It’s important to understand that they aren’t an insurance company themselves. Instead, they function as a large insurance agency that has been around since 1985. Think of them as a middleman or a broker. Their job is to connect you with various insurance companies and help you compare policies and prices.

This model can be helpful if you’re looking to get multiple quotes without having to contact each insurance carrier individually. Their agents are licensed to sell policies from a network of partner companies. The main types of coverage they focus on are Medicare, life, home, and auto insurance. By bundling these services, they aim to simplify the process of finding coverage for the most significant areas of your life. Let’s look at each of their main offerings to get a clearer picture of what you can expect.

Finding Medicare Plans

One of the primary services SelectQuote provides is helping people find Medicare coverage. They act as a broker, which means they don’t issue the policies but connect you with the insurance companies that do. Their agents can walk you through options for Medicare Advantage, Medicare Supplement (Medigap), and Part D prescription drug plans. Because they work with multiple carriers, they can present you with several different plans and price points. This allows you to compare benefits and costs from well-known insurance providers all in one place, which can save you a lot of time and research.

Shopping for SelectQuote Life Insurance

SelectQuote heavily promotes its life insurance services, stating that it is America’s #1 agency for selling term life insurance. This is a significant part of their business. They work with a variety of highly-rated life insurance companies to offer policies that fit different needs and budgets. Their agents can help you determine how much coverage you might need and which type of policy—term, whole, or universal—is the right fit for your family’s financial goals. They also claim that customers can save more than 50% on life insurance by comparing options through their service.

What Life Insurance Is For

At its core, life insurance is a way to protect your family financially if you pass away. Think of it as a safety net for your loved ones. The payout from a policy, known as a death benefit, can help cover immediate costs like final expenses and medical bills. It can also provide long-term support by replacing lost income, paying off a mortgage, or even funding a grandchild’s college education. Having a plan in place offers peace of mind, ensuring that the people you care about won’t face a financial burden during an already difficult time.

Types of Life Insurance Explained

When you look at life insurance, you’ll generally find two main categories. Term Life Insurance is often the most affordable option because it covers you for a specific period, such as 10, 20, or 30 years. If you pass away during that term, your beneficiaries receive the payout. Permanent Life Insurance, on the other hand, covers you for your entire life as long as you pay the premiums. These policies are more expensive but also include a savings component called “cash value” that can grow over time. Within this category, you’ll see options like Whole Life, which has fixed premiums, and Universal Life, which offers more flexibility.

Special Policy Features

SelectQuote often highlights features designed to make the application process easier. One of the most popular is the option for policies that don’t require a medical exam. While eligibility often depends on your age and health, it can be a convenient way to get coverage without a doctor’s visit. They also emphasize a quick and simple process for getting a free quote, sometimes in as little as 15 minutes. Because their agents compare plans from multiple insurance companies, they can present you with several different price points and coverage amounts to help you find a policy that aligns with your budget and goals.

Bundling Home and Auto Insurance

Beyond health and life insurance, SelectQuote also helps customers find policies for their homes and vehicles. Similar to their other services, they do this by comparing quotes from many highly-rated insurance companies. Whether you’re looking for a basic auto policy, comprehensive home coverage, or want to bundle the two for a potential discount, their agents can search for competitive rates on your behalf. The goal is to find you the right amount of coverage at a good price without you having to shop around with dozens of different carriers on your own.

What Other Policies Can You Find?

While their main focus is on Medicare, life, home, and auto insurance, SelectQuote aims to cover the major insurance needs for most households. Their platform is designed to bring these different kinds of insurance under one roof, making it easier for you to manage your policies. By working with a single agency for multiple types of coverage, you can potentially streamline your communications and have one point of contact for questions about your different plans. This consolidated approach is a key part of their value proposition for busy individuals and families.

Your Step-by-Step Guide to Using SelectQuote

Working with a large insurance agency like SelectQuote involves a few distinct steps. Knowing what the process looks like from start to finish can help you decide if their service is the right fit for you. Here’s a breakdown of what you can expect along the way.

Getting Your Free Insurance Quotes

Getting started with SelectQuote is pretty straightforward. Your first step is to contact them, which you can do in one of two ways. You can either call their toll-free number directly or go to their website and fill out a form with some of your personal information. Once you’ve submitted your details, a licensed agent will reach out to you. They will use the information you provided to gather a list of potential insurance plans and present you with quotes. This initial process is designed to connect you with an agent who can begin showing you options.

How to Compare Your Insurance Quotes

When you receive your quotes, it’s helpful to understand how SelectQuote operates. They are an insurance broker, not an insurance company. This means they don’t issue the policies themselves; instead, they connect you with various insurance carriers. While this can be convenient, it’s important to know that SelectQuote only shows you plans from their partner insurance companies. This means your options are limited to the carriers within their network. You won’t see quotes from companies outside of their partnerships, so you could miss out on a plan that might be a better fit or more affordable.

What It’s Like Talking to an Agent

Once you’re connected, you’ll speak with a licensed agent who can walk you through the different plans. Many people find the agents to be friendly and well-informed, which is a huge plus when you’re trying to understand complex policy details. They can help break down the jargon and explain the differences between your options. However, one thing to keep in mind is that SelectQuote is a large call center. You may not speak with the same agent every time you call, which can make the experience feel a bit impersonal if you prefer building a relationship with one trusted advisor.

Choosing and Enrolling in Your Plan

After you’ve compared your options and spoken with an agent, you can choose a plan and enroll directly through SelectQuote. They make it easy to see different plans side-by-side, which can save you the time and effort of calling multiple insurance companies on your own. Once you’ve made your decision and completed the enrollment, your relationship shifts. From that point on, the insurance company that issued your policy will be your main point of contact. For any questions about claims, billing, or coverage, you will work directly with your new insurance provider, not with SelectQuote.

How Much Does SelectQuote Cost?

When you’re looking for insurance, the bottom line is always a top concern. SelectQuote advertises that it can save you a significant amount on premiums by shopping around for you. But what does their service actually cost you? Let’s break down their pricing model so you know exactly what to expect.

Is Their Service Really Free?

Yes, using SelectQuote to compare insurance quotes is completely free for you. You won’t receive a bill for their service or for speaking with one of their agents. So, how do they stay in business? SelectQuote makes its money from the insurance companies themselves. When you decide to purchase a policy through their platform, the insurance carrier pays SelectQuote a commission. This model allows you to access and compare a variety of plans without any direct cost. It’s a major benefit for anyone trying to find an affordable policy without adding extra service fees to the pile.

So, How Do SelectQuote Agents Get Paid?

Just like the company itself, SelectQuote’s agents don’t charge you for their help. Their income is based on commissions. When an agent helps you find and enroll in a plan, the insurance company that provides the plan pays the agent a commission. This is standard practice in the insurance industry. It’s helpful to understand this because it means the agent is motivated to help you finalize a policy. While they can provide valuable guidance, remember that their compensation is tied to a sale. This structure ensures their service remains free for consumers while compensating agents for their work.

Understanding Life Insurance Costs

The price you pay for life insurance depends on several personal factors, including your age, gender, health, and the amount of coverage you choose. SelectQuote claims that by comparing options, customers can find significant savings. For example, they highlight that a healthy 30-year-old could get a $100,000 policy for as little as $7 per month for a 10-year term. They also offer policies that don’t require a medical exam for individuals under 60 who are in good health, which can simplify the application process. These examples show how shopping around can reveal a wide range of prices, but remember that your final cost will depend on your unique circumstances and the specific life insurance policy you select.

Where Is SelectQuote Available?

SelectQuote operates as an online insurance brokerage, which means their services are accessible to customers all across the United States. You don’t need to find a local office or schedule an in-person meeting. Whether you live in a bustling city or a quiet rural town, you can use their platform to compare insurance policies and connect with an agent from the comfort of your home. This wide nationwide availability makes it a convenient option for many people, especially those who are comfortable managing their insurance needs online or over the phone.

Which Insurance Carriers Partner with SelectQuote?

This is a really important point to understand. SelectQuote partners with a specific, curated list of well-known insurance companies. While this gives you a good range of options, it doesn’t include every single plan available on the market. The quotes you see are limited to the insurers that SelectQuote has agreements with. This means you might miss out on a plan from a smaller or regional carrier that could be a better fit for you. It’s a trade-off: you get the convenience of a one-stop shop, but you don’t get a full, unbiased view of every available plan.

Weighing the Pros and Cons of SelectQuote

Like any service, working with SelectQuote has its benefits and drawbacks. Understanding both sides of the coin can help you decide if their approach is the right fit for your Medicare journey. It’s all about finding a balance between convenience and having a complete picture of your options. Let’s walk through what customers often appreciate about the company and some of the common concerns you should be aware of before picking up the phone.

Pro: Compare Multiple Carriers at Once

One of the biggest draws of SelectQuote is that they offer plans from multiple insurance companies. They aren’t an insurance carrier themselves; instead, they function as a large insurance agency that connects you with different insurance providers. This means you can see several options side-by-side, which can feel much less overwhelming than starting from scratch and researching each company individually. This approach gives you a broader perspective on what’s available from their specific network of partners.

Pro: Get Guidance from Licensed Agents

When you’re trying to make sense of deductibles, copayments, and networks, talking to a real person can make all the difference. SelectQuote provides access to licensed agents who can walk you through the details of different plans. Many customers report that the agents are friendly and knowledgeable, helping them understand the fine print of complex insurance policies. Having a professional to answer your specific questions can be a huge relief and help you feel more confident in your understanding of the plans you’re considering.

Pro: Save Time with One-Stop Shopping

If the thought of calling a dozen different insurance companies makes your head spin, you’ll likely appreciate SelectQuote’s streamlined process. Their model is built for convenience, allowing you to compare plans from various carriers all in one place. This one-stop-shopping approach saves you the time and effort of hunting down information on your own. You can get a good overview of your options quickly, which is a major advantage for anyone who wants to find a plan efficiently.

Con: They Don’t Represent Every Insurer

While SelectQuote offers variety, it’s important to know that their selection isn’t exhaustive. They only show you plans from a small group of partner insurance companies. This means you won’t get a view of the entire market, and you could potentially miss out on a more suitable or affordable plan from a company that isn’t in their network. It’s a key distinction to remember: you’re seeing a curated list of options, not every single one available to you.

Con: Expect Follow-Up Calls and Emails

A common piece of feedback you’ll find about SelectQuote relates to their communication style after you’ve requested a quote. Many customers report that the follow-up can be quite persistent, with some receiving too many calls and emails. While their agents are trying to be helpful and ensure you get enrolled, some people find the approach feels a bit high-pressure. If you prefer to take your time and consider your options without frequent check-ins, this is something to be prepared for when you share your contact information.

Con: The Call Center Model

SelectQuote operates on a large call center model, which can feel very different from working with a local, independent agent. When you call, you’ll likely speak with whichever agent is available at that moment. This means you may not talk to the same person twice, making it difficult to build a relationship with a single, trusted advisor who understands your unique situation. Some customers have found this experience to be impersonal and have reported that agents can seem rushed or focused on making a quick sale. If you prefer having a dedicated contact who you can reach directly with follow-up questions, the call center approach might not be the best fit for you.

Is SelectQuote the Right Choice for You?

Deciding on an insurance partner is a big step, and it’s smart to weigh your options carefully. SelectQuote can be a helpful resource for many, but whether it’s the best fit for you depends on your personal needs and how you prefer to shop for insurance. Let’s walk through a few key points to help you make an informed decision.

SelectQuote Reviews: What Real Customers Say

When you look at reviews, you’ll find a mix of experiences. SelectQuote has a 4.3-star rating on Trustpilot, which shows that many customers walk away happy with the service they received. However, some people have shared less positive feedback. A common point of frustration is feeling pressured by agents, with some customers reporting they received too many calls and emails after their initial inquiry. It’s also worth noting that the company has only responded to a small fraction of its negative reviews online, which can raise some customer concerns.

Tips for a Smooth Experience

If you decide to contact SelectQuote, you can set yourself up for a positive experience. When you call or reach out online, a licensed agent will discuss your needs and show you plans from their partner companies. If at any point you feel the agent is being too aggressive or isn’t listening to you, don’t hesitate to ask to speak with someone else. It’s also perfectly okay to end the call and take some time to think about your options. You are in control of the conversation, and the right agent will respect your pace and your decisions.

SelectQuote vs. Independent Broker: What’s the Difference?

This is an important distinction to understand. SelectQuote agents can only offer you plans from the specific insurance companies they have partnerships with. This means your options are limited to their network. You might miss out on a more suitable or affordable plan simply because it’s offered by a company SelectQuote doesn’t work with. In contrast, an independent agent isn’t tied to a specific set of carriers. They can shop the broader market, giving you more choices and a better chance of finding the perfect plan for your unique situation and budget.

Life Insurance Considerations for Seniors

Life insurance is often a key part of financial planning, especially for seniors. The main goal is usually to ensure your loved ones aren’t left with unexpected costs after you’re gone. A policy can help cover final expenses like funeral costs, outstanding medical bills, or any other debts, which can provide tremendous peace of mind for your family during a difficult time. When you’re considering your options, it’s helpful to think about what you want the policy to accomplish. This clarity will help you find the right type of coverage to protect your family’s financial well-being.

While SelectQuote is a major seller of term life insurance, it’s worth knowing about other policies designed specifically for seniors. One popular option is Final Expense Insurance. This is often a permanent policy with steady payments that won’t increase over time. The biggest advantage for many is that it’s typically easier to qualify for, even if you have health problems. Most final expense policies only require you to answer a few health questions instead of undergoing a full medical exam, making it a practical and accessible choice for covering end-of-life costs.

The cost of life insurance can vary quite a bit, and it’s based on a few key factors. Your age, gender, overall health, and the amount of coverage you choose will all play a role in determining your premium. It’s a common misconception that it’s too late or too expensive to get a policy later in life, but that’s not always the case. Many companies offer affordable plans specifically for people over 70 or 75. When you work with an agency like SelectQuote, they will present you with options from their partners, but remember that an independent agent can show you a wider range of policies to find the best fit for your budget.

Before You Call: Know Your Insurance Needs

Before you pick up the phone to call SelectQuote or any agent, I always recommend doing a little homework first. Taking a few minutes to prepare can make the entire process smoother and ensure you get the coverage you truly need. Make a simple list that includes all your regular doctors and specialists, any prescription medications you take, and what you’re comfortable spending each month. Having this information ready will help you clearly communicate your needs and confidently compare the plans presented to you.

Frequently Asked Questions

Is SelectQuote an actual insurance company? No, they are not. Think of SelectQuote as a large insurance agency that acts as a middleman. They don’t create the insurance policies or handle claims themselves. Instead, their job is to connect you with a variety of well-known insurance carriers they have partnered with, allowing you to compare different plans in one place.

Do I have to pay to use SelectQuote’s service? You will not have to pay anything to use their service. Comparing quotes and speaking with their agents is completely free for you. SelectQuote is compensated through commissions paid by the insurance company you ultimately choose. This is a standard industry practice and does not change the price of your policy.

Will SelectQuote show me every Medicare plan available in my area? This is a key point to understand. SelectQuote only shows you plans from the specific insurance companies within their network. While this provides you with several options, it is not a complete view of the entire market. You may miss out on a plan from a carrier that isn’t one of their partners.

What is the difference between SelectQuote and an independent agent? The biggest difference is the scope of their offerings. A SelectQuote agent can only present you with plans from their list of partner insurance companies. An independent agent, however, is not restricted to a specific network. They can search the broader market, which often gives you access to more choices and a better chance of finding the ideal plan for your specific needs.

What happens after I enroll in a plan through them? Once you’ve selected a policy and completed the enrollment process, your main point of contact will change. SelectQuote’s role is finished at that point. For any future needs, such as questions about your coverage, billing, or filing a claim, you will work directly with the insurance company that issued your policy.