SelectQuote Whole Life Review

By December 13, 2019 Whole Life Insurance

SelectQuote Whole Life Review

SelectQuote is an online site that provides visitors quotes for several different companies. As you search for the right life insurance policy you undoubtedly have found SelectQuote as one of the top options for your research. In this SelectQuote Whole Life Review, we will see if SelectQuote is the best place to buy your insurance coverage.

Q. Why is Topwholelife.com writing a review on SelectQuote?  

A. Top Whole Life wants to help visitors make the best decision when searching for whole life coverage. However, to do this we must not only provide information about whole life companies. We must also review other sites and companies that also offer policies so you can make the most informed decision. We feel that a highly educated customer is the best buyer and client. 

While SelectQuote focuses primarily on term life insurance products, they don’t stop there. SelectQuote also offers Home and Auto Insurance and Medicare Plans.

About SelectQuote

Founded in 19985

Based in San Diego

Pioneered online insurance sales allowing consumers to buy online in a streamlined process.

Today SelectQuote is one of the top sales agencies in the industry.

In this review we will cover the following topics:

    1. The Good
    2. The Bad
    3. Financials
    4. Ratings
    5. Products
    6. Riders
    7. Dividend Rate

Let’s get started.

The Good

If you are shopping for life insurance then you have undoubtedly seen SelectQuote.com. The questions are, should you be considering Selectquote if you want whole life at some point? We will review the good the bad and other key factors to help in your research.

Simple Clear Website

SelectQuote’s website at first glance is great in our opinion. It is a very simple website with a clear direction for a consumer. This is very important when researching something as confusing as life insurance.

You will note that right on SelectQuote’s main page they are clearly outlining that they provide Term Life Insurance. This is SelectQuote’s primary offering.

I addition to this you can also click to see Home and Auto Quotes and or Medicare Options. For the purposes of this review, we won’t be covering the insurance offerings outside life Insurance for this review.

Selectquote clearly provides information about there history, the amount of time they have been in business and information regarding what companies they work with. We really like the transparency because you will not find this some other sites today.

No Fees 

Some online life insurance companies will get you a policy however once they do they will charge you fees above and beyond the policy for their service. SelectQuote does not do this to their customers.

Available For A Call 

This may not seem like a good thing in this day and age. No one likes to speak on the phone anymore it seems like from our experience. When it comes to buying life insurance you just may want to have a talk with someone who is an expert. This does not mean that you need to buy anything however it may mean getting answers much faster.

Keep in mind the recommendations will be only as good as the advisor or salesperson you are speaking with. It is always a good idea to ask the person how long they have worked with the company and their experience. You will be able to pick up very quickly if they know what they are doing and talking about.

Do not be afraid to call around to multiple sites and get different perspectives.

Pro Tip: If you do not have life insurance yet and are shopping around to get the best policy. Do not continue shopping without locking in life insurance coverage. This is a huge risk and can be avoided.

Go buy a cheap policy first and then shop.

You can cancel the policy at any time and replace it with the one you ultimately want.

The Bad

No Whole Life Insurance 

That is correct, the biggest downside to SelectQuote is that they are not the site to go to if you are considering whole life insurance and would like to compare options. If you want to get a whole life insurance quote and compare term vs whole life you can do so here.

Honestly not offering whole life insurance products is not the worst thing in the world however it does make a difference when you consider what kind of advice you may be given. If SelectQuote’s agents are more focused on selling you Term Insurance vs. Whole Life Insurance are they providing you with the best overall advice?

Although we believe that not offering whole life is negative SelectQuote does offer term products that are convertible to whole life in the future. The companies that Selectquote uses are good options for term insurance however they are not the best companies if you were to convert to whole life.

You would be better considering a larger mutual company like MassMutual.

Quick Quotes Are Not Quick

SelectQuote has another downside that is a bigger issue as we did our review we noted that there were complaints that the process of getting a quote. SelectQuote suggests on their site that it is a quick and easy process to get a quote. Honestly from our perspective it really is a simple and easy process. However, once you do submit your information to get a quote you are into the companies sales funnel and this can lease to several calls and annoying follow-ups that may be unwanted.

If you decide to run quotes with SelectQuote just be aware that the company gets thousands of request month so they will follow up with each person the same way until they reach a customer that would like to purchase a policy.

Ratings

Read Bob B.‘s review of SelectQuote Insurance Services on Yelp

Read Rolanda T.‘s review of SelectQuote Insurance Services on Yelp

We could not share all the reviews from yelp however you can see that there are several people who received subpar service. We will say that Select quote has helped thousands buy policies and there are only a total of 96 reviews here so this is a small sample of feedback.

SelectQuote Insurance Companies

Below are the companies that SelectQuote represents. They state that they only use companies who have been rated A- to A+ by A.M. Best. Keep in mind each company is going to have its own specific requirements when applying for coverage. Coverage is not always guaranteed.

Final Word

SelectQuote overall is a popular place to request a quote for term life insurance. If you are in search of reasonable term insurance that you can obtain online with a few phone calls then SelectQuote may be a good choice.

If you would like to be provided with the best overall advice we would suggest reaching out to our team at Top Whole Life. We will be able to help you with both term and whole life quotes. If you are not sure what policy type is right for you yet. Go check out our Term vs. Whole Life Calculator.

Regardless of what policy type you choose make sure you have a policy that is in force when you die. Trust us your family will not care what kind of policy it is.

Thank you for reading our SelectQuote Whole Life Review.

Please leave any questions or comments below.

I Would Like To Get A Quote Now

Term vs Whole Life

Leave a Reply