Disclaimer: We are NOT affiliated with SelectQuote. We are a competitor, and this is our review of SelectQuote life insurance services.
You’ve probably seen SelectQuote advertising on TV or the radio. They’re all over the media and have become one of the most well-known life insurance businesses out there. Consumers considering contacting SelectQuote should be informed about their operation.
SelectQuote reviews from customers are all over the place. However, there are some advantages and disadvantages when working with them which we’ll cover below.
- 3 Facts You Should Know About SelectQuote
- Advantages to Working With SelectQuote
- Disadvantages to Working With SelectQuote
- SelectQuote Reviews from Agents & Consumers
- The Best Alternatives to SelectQuote
Before you make your final life insurance purchase decision though, we recommend looking into other top companies as well. See our reviews on Zander Insurance, Primerica Life Insurance, and United Home.
3 Facts You Should Know About SelectQuote
We’ll start with several things that you should know before you do business with SelectQuote.
#1: SelectQuote is a Call Center
At SelectQuote, licensed agents have massive sales goals to hit and use high-pressure sales techniques to get you to apply for coverage on your initial phone call.
If you do buy a policy from SelectQuote, you’ll likely never be able to contact your agent again. You are working with a call center agent whose goal is to sell life insurance. A true independent agency has agents who you can contact after your purchase, and make their careers around life insurance.
#2: SelectQuote Offers Policies from Only 12 Life Insurance Companies
While SelectQuote claims to be independent, they only offer 12 life insurance companies:
- American General Life Insurance Company
- Banner Life (OpTerm products with MediGuide)
- Globe Life
- Protective Life
- Pruco Life
- Companion Life Insurance Company
- United of Omaha
- William Penn
- The Lincoln National Life Insurance Company
- SBLI of Massachusetts
- Pacific Life Insurance Company
These are the same core companies offered by the other life insurance call centers. Nothing sets them apart. The life insurance quotes you receive won’t be any different from another call center.
When it comes to purchasing life insurance, the best advice we can give is to compare as many companies as possible. Often times, the 12 life insurance companies offered by SelectQuote do not have the best price available.
A real independent life insurance agency or agent will search the entire market for the most affordable insurance policy available.
#3: Suze Orman is Paid to Endorse SelectQuote
Many Consumers watch Suze Orman on TV and think that SelectQuote is endorsed by her because she passed some sort of integrity or value test. This couldn’t be farther from the truth.
SelectQuote has simply paid Suze Orman enough money to endorse them.
We have nothing against Suze Orman, but we just want consumers to know the truth behind her endorsement of SelectQuote.
Advantages to Working With SelectQuote
One of the biggest advantages of this company is that it is considered an independent agency. This means they can offer coverage from a variety of different life insurance companies.
So, if you have diabetes or another health impairment, you will find that this is good news because you will be able to see which insurance companies will be more lenient when it comes to having any kind of medical issues and pre-existing conditions.
Consumers in Good Health will get Competitive Rates
For those with no health issues, SelectQuote’s guaranteed level rates will typically be some of the best on the market. They offer 12 life insurance companies, and the 12 companies they offer have great pricing for those without any health or lifestyle issues.
However, it must be noted that SelectQuote can’t offer you a lower insurance premium than any other agency. So, when you purchase the insurance policy through this company, it will be the same as if you were to purchase it from any other agent.
There are also guaranteed acceptance life insurance policies available for those with health issues.
Everything is Completed Over the Phone and Quickly
They have embraced technology and have made the process easy to secure life insurance coverage and schedule an exam for the consumer. They streamlined the sales process, so it doesn’t take the consumer a lot of time to apply.
It’s important to note that most online life insurance agencies have these same advantages. It’s really easy to get anyone who is healthy the best rates on the market. Every online life insurance agency has this technology.
So take these positive SelectQuote Reviews in context with everyone else. If you already have life insurance and want to know why you didn’t get preferred life insurance rates, we can direct you to someone who can help answer your questions.
Disadvantages to Working With SelectQuote
There are also a few disadvantages to working with SelectQuote as well, including the agents having less time for you because they have to make calls throughout the day. Read below for a more in-depth look at some of the cons of working with this company.
Agents Must Use a High-Pressure Sales Script
We know a few agents who have left SelectQuote and told us about their sales quotas, so they had to put some pressure on you. They are trained to complete out as many applications as they can.
Basically, you’re a number to their bottom line.
In order for these agents to make a good living, they have to sell a good amount of policies each month which means they don’t dedicate as much time as they should to each person. This can ultimately lead to agents becoming short on the phone so they can quickly move onto their next call.
There is No Customer Service from SelectQuote Insurance Agents
An annual review of your life insurance policy is standard in the life insurance industry.
However, this is not performed by SelectQuote. You will never hear from the insurance agent on your policy. You can forget about calling your insurance agent with questions because if your agent still works for SelectQuote, they won’t return your calls.
SelectQuote Cannot Get Great Rates for People with Health Problems
SelectQuote call center agents aren’t trained in underwriting impaired risks, or at least not as they should be. They simply don’t have the knowledge of the underwriting process that they should to provide high-risk life insurance shoppers with the best rates.
They Upsell Home and Auto insurance
Some agents have admitted that they are required to also upsell their home and auto to people who are calling in for life insurance policies.
Some have said that they need to ask people about their interest in other policies as many as three times per call. When this happens, it makes people feel as if the company is more interested in their bottom line rather than helping out their customers.
These are the biggest SelectQuote complaints we get. With that said:
We replace SelectQuote policies regularly simply because the SelectQuote agent used the wrong company for the risk OR presented the risk incorrectly to the underwriter. Your life insurance agent is the one who will obtain the best life insurance prices, so it matters which life insurance agent or agency you choose.
SelectQuote Reviews from Agents & Consumers
We believe consumers deserve much better than SelectQuote Insurance Services, and that’s why we wrote this review.
What They’re Agents Think
We actually know a few agents in SelectQuote’s call center. Their script is so aggressive that at one point if they didn’t ask you if you wanted a home or auto insurance quote at least 3 times during a phone call, they wouldn’t give that agent any new leads for a week.
It’s no wonder their agents break off to form their own agencies or leave the life insurance business altogether.
What Consumers Think
On top of that, we get email after email of people who have bad experiences at SelectQuote and apply with us. They claim they never fully understood what they were buying and most of the time the rate was more expensive than they quoted. These types of sales tactics are probably why we hear about so many SelectQuote complaints.
SelectQuote is accredited by the BBB and has an A+ rating. Again, it’s not that they’re a bad company, it’s just that there are better options when it comes to life insurance.
Obtaining the most competitive rate on your term life insurance policy is about using the right life insurance company for your unique risk. Your independent life insurance agent should be knowledgeable and have access to all the top-rated carriers on the market.
Unfortunately, SelectQuote falls short here.
A life insurance agent’s main duty is to present your application in the most favorable light to the underwriter with the information that’s provided. It’s common in our industry for an agent to submit a “cover letter” with your application painting the overall picture of your health and background to the underwriter. This presentation is critical when obtaining the most favorable rate possible.
SelectQuote does not submit a cover letter to underwriters.
We are assuming it just takes too much time and hurts the bottom line. This is a huge disadvantage to SelectQuote clients. If you’re applying for a 30-year term, preferred non-tobacco, million-dollar policy, wouldn’t you want your agent to take the extra time to make sure you receive the quoted rates you’re applying for?
The Best Alternatives to SelectQuote
At this point, it’s clear that we don’t have a very high opinion of SelectQuote and that’s because we’ve spoken with so many consumers whose SelectQuote reviews have conveyed poor experiences with them.
Instead, you should look for a trusted independent agent who can shop more than only 12 companies for you. A few options include:
- Policy Genius – This is a good alternative if you want to go through the process without ever speaking with an agent. Their platform allows everything to be done online.Get My PolicyGenius Quote
- Haven Life – If you’re in good health and looking for term life insurance, check out HavenLife.com for an instant decision term life insurance up to $1M.
- Rootfin – Fill out the quote form on this page to see instant quotes. One of our independent agents representing dozens of companies will reach out and help find a policy that fits for your situation.
So whether you are seeking to purchase life insurance for yourself or life insurance coverage for your parents, Rootfin is here to help.
Start by filling out our instant quote tool, or give us a call to reach our network of life insurance agents.
If you have a current SelectQuote policy that was issued up to 3 years ago, we can save you money on those premium payments you’re making.