However, understanding how SelectQuote operates as an insurance broker – rather than an insurance company – helps families make informed decisions about whether their approach aligns with your specific needs and preferences. While they provide valuable services for many customers, shopping multiple options and understanding all available pathways ensures you secure the best possible coverage for your family’s unique situation.
Table of Contents
- What Is SelectQuote and How Do They Work?
- Understanding SelectQuote’s Business Model
- Which Insurance Companies Does SelectQuote Represent?
- What’s the SelectQuote Application Experience?
- How Competitive Are SelectQuote’s Rates?
- What Do Customers Say About SelectQuote?
- SelectQuote vs Other Options
- Advantages and Considerations
- Alternative Ways to Shop for Life Insurance
- Is SelectQuote Right for You?
What Is SelectQuote and How Do They Work?
SelectQuote operates as an independent insurance broker that helps consumers compare life insurance options from multiple carriers. Founded in 1985 and publicly traded since 2020, the company has built a substantial business by simplifying the insurance shopping process for families across America.
Key insight: SelectQuote serves as an intermediary between customers and insurance companies, earning commissions for policies sold while providing comparison shopping services. This broker model offers both convenience and access to multiple carriers in one place.
Bottom Line
SelectQuote functions as a legitimate insurance broker providing access to multiple well-rated carriers, though understanding their commission-based business model helps set appropriate expectations for the shopping experience.
The company operates through three main business segments: Senior (Medicare products), Healthcare Services, and Life Insurance. In fiscal year 2025, SelectQuote reported strong financial performance with $1,526.6 million in total revenue and significant growth across their business lines.
SelectQuote’s life insurance division focuses primarily on term life insurance, working with established carriers to provide coverage options for families seeking financial protection. Their approach emphasizes phone-based consultations rather than purely online transactions, which some customers appreciate for the personal touch.
Understanding SelectQuote’s Business Model
SelectQuote operates on a commission-based model typical of insurance brokers, earning revenue when customers purchase policies from their partner carriers. Understanding this structure helps explain their approach to customer service and product recommendations.
How Commissions Work
Like most insurance brokers (including InsuranceBrokersUSA), SelectQuote receives commissions from insurance carriers for each policy sold. These commissions are built into the insurance premiums and don’t typically create additional costs for customers, though they do create business incentives that are worth understanding.
The company maintains partnerships with carriers that meet their financial stability requirements, generally working with companies rated A- or better by AM Best. This focus on financially strong carriers provides customers with confidence in their coverage providers.
“SelectQuote’s business model allows them to provide comparison shopping services at no direct cost to consumers, while their partnerships with top-rated carriers ensure access to financially stable coverage options.”
– InsuranceBrokers USA – Management Team
Sales Approach
SelectQuote employs licensed insurance representatives who work with customers to identify appropriate coverage options. Their sales process typically involves phone consultations where representatives gather information about customer needs and present available options from their carrier network.
The company has implemented systems designed to streamline the application process, though some customers prefer the convenience of purely online transactions available through other providers.
Which Insurance Companies Does SelectQuote Represent?
SelectQuote maintains partnerships with approximately a dozen well-established life insurance carriers, focusing on companies with strong financial ratings and competitive products in the term life insurance market.
SelectQuote’s Partner Companies Include:
- AIG (American International Group)
- Pacific Life Insurance Company
- Mutual of Omaha Life Insurance Company
- Transamerica Life Insurance Company
- Banner Life Insurance Company
- Lincoln Financial Group
- Principal Financial Group
- Protective Life Insurance Company
- John Hancock Life Insurance
- Among others…
These carriers represent solid, financially stable options with strong AM Best ratings, providing customers with confidence in their chosen coverage. The selection focuses on companies known for competitive term life insurance products and reliable claims paying ability.
Financial Strength of SelectQuote Partners
| Rating Category | AM Best Standard | SelectQuote Partners |
|---|---|---|
| Minimum Rating | A- (Excellent) | All partners meet this standard |
| Typical Range | A- to A++ | Strong across the board |
Coverage Options Available
Through their partner network, SelectQuote can provide term life insurance coverage ranging from $25,000 to $5 million, with term lengths typically including 10, 15, 20, and 30-year options. This range accommodates most family protection needs from basic coverage to substantial income replacement.
What’s the SelectQuote Application Experience?
SelectQuote’s application process emphasizes phone-based consultations with licensed representatives who guide customers through the comparison and application process. This approach provides personalized service though it requires more time investment than purely online options.
The Typical Process
- Initial Information: Basic details collected through their website or phone
- Consultation Call: Licensed representative discusses needs and options
- Quote Comparison: Presentation of available options from partner carriers
- Application Completion: Detailed application with chosen carrier
- Medical Exam: Required for most coverage amounts
- Underwriting Review: Carrier evaluation and final approval
- Policy Issuance: Coverage becomes effective upon approval
“SelectQuote’s phone-based approach allows for personalized guidance through the insurance shopping process, though customers seeking purely online experiences may prefer direct carrier options or digital-first providers.”
– InsuranceBrokers USA – Management Team
Service Features
- Licensed Representatives: Trained professionals to answer questions
- Multiple Options: Comparison across several carriers
- Application Support: Guidance through the process
- Medical Exam Coordination: Scheduling assistance
Some customers appreciate the personal attention and guidance provided by SelectQuote’s representatives, while others prefer the convenience and speed of online-only applications available through other channels.
How Competitive Are SelectQuote’s Rates?
SelectQuote’s pricing reflects rates from their partner carriers, which include several companies known for competitive term life insurance premiums. Since they work with multiple carriers, customers can compare options within their network to find suitable rates.
Rate Comparison Considerations
The competitiveness of SelectQuote’s rates depends on several factors, including the specific carriers they represent, your health profile, and how their partner network compares to the broader market at any given time.
Since SelectQuote works with established, well-rated carriers, their rates generally fall within reasonable market ranges. However, the overall market includes dozens of additional carriers that may offer competitive options not available through SelectQuote’s specific partnerships.
Bottom Line
SelectQuote provides access to competitive rates from quality carriers, though comprehensive market shopping through multiple sources helps ensure you’re seeing all available options and pricing.
Factors Affecting Your Rates
- Health Status: Medical underwriting affects final premiums
- Age and Gender: Standard rating factors
- Coverage Amount: Higher benefits increase premiums
- Term Length: Longer terms typically cost more annually
- Lifestyle Factors: Smoking, hobbies, occupation
What Do Customers Say About SelectQuote?
Customer feedback for SelectQuote shows generally positive experiences, with the company maintaining a 4.1 out of 5 rating on Trustpilot based on over 10,000 reviews. The Better Business Bureau also awards SelectQuote an A+ rating, indicating strong business practices and customer service standards.
Positive Customer Experiences
- Helpful Representatives: Many customers appreciate knowledgeable, licensed agents
- Comparison Shopping: Access to multiple carriers in one place
- Process Guidance: Support through application and underwriting
- Quick Service: Efficient handling of routine applications
“Getting a life insurance policy with SelectQuote was absolutely free of hassle. It only took a few phone calls and the rest was done very fast. Within a few weeks I was insured.”
– Trustpilot Customer Review
Areas for Improvement
Some customers note preferences for online-only applications, more extensive carrier networks, or different communication styles. These feedback patterns reflect varying customer preferences rather than necessarily indicating service problems.
ConsumersAdvocate gives SelectQuote life insurance a 9.1 rating out of 10, citing their streamlined insurance buying process and partnerships with quality carriers.
SelectQuote vs Other Options
Understanding how SelectQuote compares to other life insurance shopping methods helps you choose the approach that best fits your preferences and needs.
SelectQuote’s Approach
- Broker Model: Represents multiple carriers
- Phone-Based Service: Personal consultation approach
- Curated Network: Pre-selected, highly-rated carriers
- Guided Process: Representative assistance throughout
Independent Agent Model
- Broader Access: Potentially more carrier relationships
- Local Relationships: Ongoing service and support
- Personalized Service: Individual attention and advocacy
- Community Presence: Local business relationships
Direct-to-Carrier Options
- Online Applications: Digital-first experience
- Direct Pricing: No intermediary involved
- Carrier-Specific: Deep product knowledge
- Streamlined Process: Often faster applications
Each approach offers distinct advantages, and many successful life insurance buyers combine multiple methods to ensure comprehensive market coverage and competitive pricing.
Advantages and Considerations
SelectQuote offers several advantages for life insurance shoppers while also presenting some considerations to keep in mind when evaluating your options.
SelectQuote Advantages
- Multiple Carrier Access: Compare options from several quality companies
- Licensed Representatives: Professional guidance through the process
- Established Business: Nearly 40 years of experience in insurance
- Financial Stability Focus: Partners with highly-rated carriers
- Simplified Shopping: One point of contact for multiple options
- Application Support: Assistance with paperwork and medical exams
- No Direct Cost: Commission-based model means no fees to customers
Important Considerations
- Limited Network: Access to a subset of all available carriers
- Phone-Required Process: Cannot be completed entirely online
- Variable Experience: Quality may depend on individual representative
- Market Subset: May not see all competitive options available
Key Takeaways
- SelectQuote provides legitimate access to quality life insurance options
- Their broker model offers convenience but limits carrier selection
- Phone-based service provides guidance but requires time investment
- Comparison shopping across multiple sources often yields best results
Alternative Ways to Shop for Life Insurance
While SelectQuote offers a valid approach to life insurance shopping, exploring multiple pathways ensures you find the best coverage and rates for your specific situation.
Independent Insurance Agents
Working with independent agents provides access to broader carrier networks and personalized service. Many independent agents represent dozens of carriers, potentially offering more comprehensive market coverage than any single broker.
Independent agents often develop long-term relationships with clients, providing ongoing service and policy reviews as your needs change over time.
Direct Carrier Shopping
Many top-rated carriers now offer online applications and competitive direct pricing. Companies featured in our guide to the best life insurance companies often provide excellent direct-purchase options.
Digital-First Platforms
Modern platforms like Ladder, Ethos, and Haven Life (MassMutual) offer streamlined online experiences with competitive rates and quick approvals.
Specialized Solutions
For specific needs, specialized providers often offer better solutions than general brokers. Our guides to no exam life insurance and coverage for those with pre-existing medical conditions provide targeted alternatives.
“The best life insurance shopping strategy often involves multiple approaches – using brokers like SelectQuote for initial comparison, independent agents for broader access, and direct carriers for specific products that meet your needs.”
– InsuranceBrokers USA – Management Team
Hybrid Approach Benefits
Many successful life insurance buyers use a combination of methods:
- Start with brokers for initial market understanding
- Consult independent agents for broader options
- Check direct carriers for specialized products
- Compare final options across all sources
Is SelectQuote Right for You?
SelectQuote can be a valuable resource for life insurance shopping, particularly for customers who appreciate guided service and access to pre-screened, quality carriers. However, the best approach often involves comparing their options with other available pathways.
SelectQuote Works Well If You:
- Prefer phone-based consultations over purely online experiences
- Want access to multiple carriers through one contact point
- Appreciate guidance through the application process
- Value working with financially strong, established carriers
- Need assistance coordinating medical exams and paperwork
- Want professional licensing and oversight of your representative
Also Consider Other Options If You:
- Want to see the broadest possible range of carriers and rates
- Prefer completely online application experiences
- Seek ongoing, long-term agent relationships
- Need specialized products for unique circumstances
- Want to compare direct-carrier pricing
Bottom Line
SelectQuote provides a legitimate pathway to quality life insurance coverage, but comprehensive shopping across multiple sources – including SelectQuote, independent agents, and direct carriers – typically yields the best combination of coverage, service, and pricing.
Smart Shopping Strategy
Consider using SelectQuote as one component of a broader shopping approach:
- Get quotes from SelectQuote to understand their options
- Consult with independent agents for broader market access
- Check direct carriers for specialized products or online convenience
- Compare all options for coverage, rates, and service quality
- Choose the combination that best serves your family’s needs
The life insurance decision is too important to limit yourself to any single source. By exploring options through multiple quality providers, you ensure comprehensive coverage at competitive rates with the service level that meets your preferences.
Frequently Asked Questions
Is SelectQuote a legitimate insurance company?
Direct answer: SelectQuote is a legitimate, publicly traded insurance broker (not an insurance company) that has been in business since 1985. They help customers compare life insurance options from multiple well-rated carriers and maintain BBB A+ accreditation.
How does SelectQuote make money?
Direct answer: SelectQuote earns commissions from insurance carriers when customers purchase policies. These commissions are built into insurance premiums and don’t create additional costs for customers, similar to how most insurance brokers operate.
Can I get life insurance quotes online from SelectQuote?
Direct answer: SelectQuote requires phone consultations with licensed representatives to provide quotes and complete applications. While you can provide initial information online, you cannot complete the entire process digitally.
How many insurance companies does SelectQuote work with?
Direct answer: SelectQuote partners with approximately 12 life insurance carriers, all rated A- or better by AM Best. This provides good options while representing a focused selection from the broader insurance market.
Are SelectQuote’s rates competitive?
Direct answer: SelectQuote’s rates reflect their partner carriers’ pricing, which can be competitive for many customers. However, since they represent a subset of the total market, comparison shopping across multiple sources often reveals additional competitive options.
What do customers say about SelectQuote’s service?
Direct answer: SelectQuote maintains a 4.1/5 rating on Trustpilot and A+ BBB rating. Customer feedback generally highlights helpful representatives and good access to quality carriers, with some preferring more extensive online capabilities.
Should I only use SelectQuote for life insurance shopping?
Direct answer: While SelectQuote provides valuable services, most experts recommend comparing options across multiple sources – including SelectQuote, independent agents, and direct carriers – to ensure you find the best combination of coverage, rates, and service.
What types of life insurance does SelectQuote offer?
Direct answer: SelectQuote primarily focuses on term life insurance with coverage amounts from $25,000 to $5 million and term lengths of 10, 15, 20, and 30 years. They also offer some whole life and final expense options through their carrier partners.
