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SelectQuote is a life insurance broker operating in 49 states that helps customers find affordable life insurance policies from a large network of insurance partners. SelectQuote applicants have three main policy types to choose from, including term life insurance, whole life insurance, and final expense insurance. Term life policyholders can choose from a wide range of coverage, between $50,000 to $5M. Most SelectQuote life insurance partners offer policies to adults between ages 18 and 64 in terms ranging from 5 to 30 years.
We highly recommend SelectQuote to customers who are most focused on paying low premiums or would like to compare multiple quotes with one application. With traditional life insurance companies, the quote you see is the quote you get—with SelectQuote, an applicant can enter their basic information once and receive a series of quotes from multiple insurers. SelectQuote’s multi-quote approach makes it easy for applicants to select the most cost-effective policy for their family, so they can save money while getting the coverage they need.
| Pros | Cons |
|---|---|
| Applicants can get a series of personalized quotes with only a single application. | Slow processing time: up to a 7-week response time. |
| Lock-in premium pricing. | Most policies require an in-person medical exam |
| Existing policyholders can renew term coverage with ease. |
SelectQuote offers three primary types of life insurance: term, permanent, and final expense.
Term life insurance is designed to provide coverage for a specific term, usually between 10 and 30 years. In exchange for the policyholder paying a monthly premium, the insurance company agrees to pay the policyholder’s family the coverage amount (called the “death benefit”) if the policyholder dies within the contract’s term.
Term life insurance is considered to be the most affordable form of life insurance, as the coverage amount only pays out to the policyholder’s friends and family if the policyholder dies within the term limit. Once the contract term ends, all coverage ends as well.
SelectQuote and its partners offer term life insurance policies with coverage amounts ranging from $50,000 to $5M. Coverage terms range from 10 to 30 years, sold in 5-year increments.
Permanent life insurance provides coverage for a policyholder’s entire life. If a permanent life insurance policyholder pays all of their premiums on time, their friends and family are all but guaranteed to receive the coverage amount once the policyholder passes away.
Permanent life insurance also carries a cash value component, in which policyholders can invest a portion of their premium payments each month. Invested accounts can often be used like a savings account, allowing policyholders to use the money as they see fit.
SelectQuote and its partners offer two types of permanent life insurance:
The least expensive of the three categories of life insurance, final expense insurance helps a policyholder’s friends and family pay for end-of-life expenses.
Designed to help grieving people pay for their loved one's medical care, funeral services, and burial, final expense insurance provides the lowest coverage amount of the three life insurance categories, with the upside being that the premiums are often the cheapest.
SelectQuote and its partners offer three types of final expense insurance:
SelectQuote offers a variety of life insurance policies from a number of different insurers, meaning that each policy will have a unique set of coverage details. The best way to find out the coverage details associated with your SelectQuote policy is to speak with a representative about your contract before activating your policy.
That being said, life insurance companies commonly void a customer’s policy in the following scenarios:
SelectQuote is licensed to sell life insurance in every state except South Dakota.
SelectQuote applicants can find a series of free resources on its website, such as:
SelectQuote has a rating of 3.7/5 on Trustpilot, which is considered “Average.”
Many of the positive reviews focused on SelectQuote’s helpful customer service and easy application process.
Negative reviews tended to critique SelectQuote’s response time following a submitted application, with some users saying it took multiple weeks to get a response.
Life insurance prices vary from applicant to applicant, as underwriters use each applicant’s personal information when creating policy pricing.
The following sample pricing assumes that the applicant is in “excellent” health and is applying for term life insurance coverage:
$500,000 Coverage
| Age | Amount | Policy | Female | Male | Medical Exam Required |
|---|---|---|---|---|---|
| 25 | $500,000 | 20-year term | $15.72 | $19.04 | Yes |
| 35 | $500,000 | 20-year term | $17.63 | $20.82 | Yes |
| 45 | $500,000 | 20-year term | $36.48 | $46.07 | Yes |
| 55 | $500,000 | 20-year term | $84.12 | $114.48 | Yes |
$1,000,000 Coverage
| Age | Amount | Policy | Female | Male | Medical Exam Required |
|---|---|---|---|---|---|
| 25 | $1M | 20-year term | $22.94 | $30.49 | Yes |
| 35 | $1M | 20-year term | $29.21 | $33.48 | Yes |
| 45 | $1M | 20-year term | $66.54 | $86.29 | Yes |
| 55 | $1M | 20-year term | $158.29 | $221.04 | Yes |
For pricing accurate to your unique scenario, we recommend you get a quote directly from SelectQuote’s website.
New applicants can sign up for life insurance in three easy steps:
What is SelectQuote?
SelectQuote is an insurance broker that offers a variety of life insurance products, including term life, permanent life, and final expense insurance.
What companies does SelectQuote work with?
SelectQuote works with a variety of life insurance partners, including Pacific Life, Prudential Life, United of Omaha, and more.
Who owns SelectQuote?
SelectQuote is a publicly-traded company that works with a series of life insurance partners, such as Pacific Life, Prudential Life, United of Omaha, and more.
Thanks to its variety of life insurance partners, lock-in pricing, and easy application, we highly recommend SelectQuote to life insurance applicants focused on easily comparing policies. With one application, new applicants can view and compare multiple policies, making it easy to pick the policy that best fits their needs.
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