SelectQuote

SelectQuote, a comparison service for life, Medicare, auto, and home insurance

SelectQuote is an insurance agency that presents itself as America's #1 term life insurance sales agency. Its model consists of comparing rates from more than 50 life, auto, home, and Medicare insurers in minutes so that customers can choose among several options at no cost for the quote.

The company describes itself as a pioneer in term life insurance price comparison since 1985. It currently states that more than two million families have trusted it to manage their coverage needs, and that its process allows it to obtain proposals from multiple companies in the time it would take to get a quote from a single insurer.

Products and coverage it sells

The agency's catalog covers four main areas:

• Life insurance: includes term life insurance with rates that, according to the website, can start at under $1 a day. The company offers no medical exam policies, fully underwritten policies, and an application process that can be completed in less than an hour. Coverage is available for people up to age 60 in generally good health, with coverage starting immediately.
• Auto and home insurance: searching for the best rate available in the customer's area.
• Medicare plans: finding plans that cover gaps in Medicare coverage.
• Other insurance: the company presents itself as a one-stop shop for additional needs beyond the three main categories.

The comparison and advisory process

SelectQuote describes its method as simple and hassle-free. The customer requests a free quote and the agency compares hundreds of options from highly rated insurers to find the best rates. The company emphasizes that the quote carries no obligation to purchase or enroll.

A central element of its offering is phone support: licensed agents provide personalized advice based on the customer's needs, budget, and other priorities. The company states that a simple phone call has allowed some customers to save $6,000 over the lifetime of a life insurance policy, and maintains that online quotes, while quick, lack the knowledge needed to identify personalized savings opportunities.

The agency indicates that its agents are not paid differently based on the insurer chosen, although it does receive a commission from the insurance company each time a policy is sold. According to its presentation, it does not rank or present specific insurers based on the compensation received.

History and evolution

Founded in 1985, SelectQuote began by focusing on term life insurance price comparison. Over time it expanded its activity to auto and home insurance and Medicare plans. The company maintains as its stated mission to remove barriers to buying insurance, introduce transparency and choice, and help people find the protection they need at a price that fits their budget.

Customer profile and situations covered

The agency serves both first-time buyers and those seeking a better rate, needing additional coverage, or having questions about an existing policy. The company notes that it often finds affordable coverage for people who had been rejected or quoted very high rates elsewhere.

Among the areas the company links to its protection activity are the home, the family's financial stability, health, financial security, and children's college education.

Structure and presence

SelectQuote operates under different legal names depending on the state, including SelectQuote Insurance Services and SelectQuote Insurance Agency. The company has a network of offices and offers phone support through its support number. Its website includes sections for products, resources, FAQs, and access to quotes.