About Select Quote Life Insurance
SelectQuote was started in 1985 and has prominent locations in San Francisco, California, and Leawood, Kansas.
SelectQuote life insurance is considered an agency or broker, not a life insurance company.
Select Quote.com captures its share of the life insurance marketplace by spending millions on television, newspaper, radio, and internet advertising.
This large advertising budget allows Select Quote.com to sell thousands of policies for millions in new premiums yearly.
The company sells policies directly to consumers on the internet and by telephone, mainly by providing free term and universal life insurance quotes.
Select Quote is also considered an elite insurance agency based on the volume of policies sold yearly. SelectQuote.com is also an independent agency and is licensed nationwide.
They have even paid Suze Orman enough money to endorse them, which could be why you recognize the Select Quote.com brand name.
As an independent agency, Select Quote reviews the prices of many insurers, which is better than a local agent who only represents one primary company.
SelectQuote went public in mid-2020 to expand and diversify its insurance platform.
SelectQuote (SLQT) shares have tumbled over the past few years from a high of around $31 to just under $1 in early 2023.
Advantages of Working with Selectquote.com
Many people can benefit from working with Select Quote’s core insurance companies that offer great rates to healthy people needing basic term coverage.
Most agents working at SelectQuote.com are well-trained, knowledgeable, and polite.
They also have a reasonably streamlined underwriting process for healthy applicants seeking life insurance.
In today’s busy world, applicants also appreciate the convenience of conducting their insurance transactions exclusively by telephone compared to meeting with an agent in person.
Types of Selectquote Life Insurance
Before choosing any life insurance agency or insurance company, you should make sure Select Quote reviews your life insurance needs.
You need to understand your specific needs to determine which life insurance policy is right for you.
First, ask yourself a few questions:
- How much life insurance do I need?
- Are you covering for a specific need such as mortgage protection, income replacement, or only for final expenses?
- Do you need coverage for a certain number of years, or do you alternatively need coverage for the rest of your life?
- Do you need pure death benefit protection, or do you need a cash value too?
Once you have answered these questions, you can better decide between term and universal life insurance.
Select Quote Term Life Insurance has contractually guaranteed premiums for between 10 and 40 years.
Select Quote Permanent Life Insurance offers both whole and universal and whole life insurance, with cash value growth and lifelong coverage.
Since a select quote is a broker or agent, they must sell policies by representing several insurance companies.
So, after select quote reviews your initial application, the agent will typically submit your application to one of the following life insurance companies.
select quote Life Insurance companies
- American General – A.M. Best Rating: A
- Banner Life – A.M. Best Rating: A+
- Globe Life – A.M. Best Rating: A
- Mutual of Omaha – A.M. Best Rating: A+
- Protective Life – A.M. Best Rating: A+
- Prudential – A.M. Best Rating: A+
- Transamerica Life – A.M. Best Rating: A
- William Penn – A.M. Best Rating: A+
