Here's the Brutal Truth About SelectQuote Life Insurance:
Although this massive agency has helped millions of people buy life insurance, it has some issues you should be aware of before buying an insurance.
(A good friend of mine sells life insurance for SelectQuote here in San Diego, so I know!)
We will discuss these issues in this SelectQuote review. And we will also cover the benefits of the agency.
Everything you wanted: The good, the bad and the ugly. Let's get started.
SelectQuote Reviews Benefits
Here's your biggest advantage when working with SelectQuote: It's an independent agency, which means Select Quote Life Insurance offers coverage from a variety of life insurance companies and not just one or two companies.
This is important for someone with a health condition such as diabetes.
Why is it so important? Because some life insurance companies look better at applicants with certain medical conditions than other companies.
When you apply through an independent agency, you have a better chance of finding quality insurance coverage you can afford.
Your SelectQuote agent can help you match with a company that suits your needs, saving lots of time and hassle compared to applying with 1
I know Select Quote's medical questionnaire is thorough which makes the application process more nuanced and less standardized. This is a big plus.
Other SelectQuote insurance benefits include:
I really know SelectQuote's sales agents get good training before they start working with customers. SelectQuote Insurance Services tries to make sure you are dealing with a knowledgeable agent and not someone who learns the ropes with you.
SelectQuote.com Life Insurance is licensed to sell life insurance in 49 states (everywhere) but South Dakota). This agency has also streamlined its insurance process as much as possible, although it still distorts telephone access and not real online access such as PolicyGenius or Haven Life.
From the beginning of your application process. for the delivery of your insurance, you can conduct 100 percent of your business with Select Quote Insurance by phone.
This saves time and is very convenient compared to visiting an insurance agent's office. So it is easy to understand why SelectQuote Insurance Services is still one of the best sellers of life insurance online.
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Select quote Life insurance price comparison
Let us be clear about this in advance: SelectQuote Insurance Services can not offer a lower premium than any other agency or agent. This means that you will not necessarily save money just because you work with SelectQuote.com Life Insurance Services.
For example, let's say you buy a 30 year insurance policy through Banner Life with a face value of $ 500,000
The premium you pay after purchasing this insurance through Select Quote Insurance Services will be exactly the same as if you had purchased the same insurance from an independent agent in your area.
Life insurance premiums are what they have is. They are based on the operator's insurance process that takes into account your health, age, gender, profession and your hobbies. These factors will not change; they are part of who you are. So there is no cost advantage in working with SelectQuote.com Life Insurance Services from this perspective.
But if you dig deeper into the process, you can save money through SelectQuote.com insurance services because … this agency works with so many carriers you have a much better chance of finding a quote that fits well with your personal information.
This means that you have a better chance of accessing the operator who has the best prices for someone in your state of health. I wish SelectQuote worked with more operators. We will go into that below.
I highly recommend independent authorities – especially if you have special risk factors such as diabetes or high blood pressure.
You really do not want to go to an agent working for the State Farm, or any other "caught" agent who is only allowed to sell their own corporate products no matter how much they cost you.
My agency can not beat SelectQuote Insurance Services on specific insurance rates. The difference you get with us is service. We will work much harder to ensure that you get the best prices you can get based on your unique personal information. Call us to compare instant quotes at 888-603-2876.
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3 Undoubted problems working with SelectQuote Insurance
I admire SelectQuote Life Insurance Services which has been selling life insurance since 1985. This online insurance agency precedes the Internet. Talk about vision!
But this is an honest life insurance review and I have to point out some questions I have with SelectQuote.
1. Agents Have Some Time for You
SelectQuote agents work for a company with a seemingly unlimited number of customers. They can make phone calls all day and sell, sell, sell. Covid-19 pandemic closes call center? No problem. They call leads and sell from home. It's almost always a good time to be a sales agent.
Except – Select quote Life insurance pays its sales agents only about a quarter of the commission that a traditional insurance agent would make.
So this creates a problem. SelectQuote agents have to sell dozens of insurance policies a month to support themselves. They need to sell you insurance and get off the phone to start a new sale. They do not have time to devote to each client during the first call.
My agent friend says he has been trained to always give an immediate quote the first time he talks to a new prospect. SQ agents just do not have time to wait until you decide. They need you to buy insurance today.
Why You Should Care
Life insurance is a serious issue. If you are going to pay for insurance for 20 to 30 years, do you not want an agent who can spend 30 minutes (or even an hour) with you? Especially if you are new to life insurance and have some questions.
Read only a few SelectQuote reviews on ComplaintsBoard.com or TrustPilot or Better Business Bureau.
Do you see what I mean?
We can continue the phone with you for a few hours if needed, and if you do not buy insurance today, that's fine. It pays for us to build and maintain relationships with you, our client.
2. "Selling" (they try to sell you more than just life insurance)
Select quote reviews reveal that this company has grown. It is publicly traded on the New York Stock Exchange (SLQT). This agency still has its roots in Kansas but has offices all over the country – San Diego, Jacksonville, Fla., Denver, Iowa, San Francisco and so on.
Former employees say Select Quote Insurance Services is so intent on making money for its investors that the focus has shifted more to the bottom and less to the customer.
You can see that this change plays out in SQ's tendency to sell its life insurance leads to home insurance or car insurance.  And now the agency is building a remote workforce to follow up on the final costs of life insurance.
Select quote Call Monitoring – Agents Must Upsell Home & Auto
An agent who left SQ a few years ago told me that he was forced to sell car and home insurance to everyone who called in for life insurance.
He said he had to mention home and car sales at least three times during his phone call, otherwise he would risk getting his best leads away from him in a week.
So let's say you're calling for a life insurance quote. The agent says, “I'll be happy to help you with that! Can I also interest you in an immediate quote for a home and car insurance?
You reject and say you are happy with your current car and home coverage. "I'm just interested in life insurance today."
My agent friend said at the time, he would still need to ask you twice more about home and car.
He would give you a life insurance quote and then say, "How about that home and ticket price?" (The one you already refused.)
Geez – Talk about intrusive!
My info is a few years old. If a current SQ employee wants to comment below, I would be happy to remove that criticism from my SelectQuote review. next call), there is another accident with rushed agents:
Lack of service.
The problem here is that many people have medical problems, or a combination of problems that make it harder to buy life insurance. This is the main reason why independent agencies have so much to offer. They have time to help their customers find the best possible coverage at the best prices.
This process requires that an agent sometimes make many calls … (aka – good service).
Here's the deal:  Because SelectQuote agents need to sell as many policies as possible as quickly as possible, the unfortunate truth is that sometimes the client suffers.
It makes me feel that Select Quote agents do not always have the very best in mind for their client, but just want to sell them all the insurance they can talk to the client in.
Here is a FAQ about life insurance – "Should you buy insurance that requires a medical examination or not?"  Let's say you're 43 years old and you call SQ for a 20 year policy. If you are in good health, the agent can set the absolute lowest rating anywhere, which would be a policy that requires an examination, and it can take 4 to 6 weeks before you are approved.
All these things are equal, it's extra work for the SelectQuote agent. And remember that they have a sales quota of five insurances sold per week.
So that's why I've heard their sales representatives try to pursue some trial policies.
No degree policy is approved faster and with minor problems, which is good for the agent. But these policies often cost 20-40% more in premiums – which is bad for the client.
This does not put the client first.
3. SelectQuote uses fewer life insurance companies
For an independent agency, SelectQuote works with a small staff of life insurance providers.
This agency has access to only 11 life insurance companies including:
Now all these companies have a stellar reputation in the life insurance profession. Some of them even rank in my top 10 best.
But this is just a small selection of several hundred companies available, and it does not include industry leaders such as Northwestern Mutual, New York Life and MassMutual.
19659003] If you are healthy, you should find very competitive prices with SelectQuote. However, if you have a health problem, it may not be enough to have just 11 carriers to help you find the best life insurance rates for your situation.
Independent agents, on the other hand, generally have access to dozens of life insurance companies. Here at Huntley Wealth, we have access to over 70 companies.
Why is this important?
Representing more companies allows us to find the insurance companies that are more liberal, especially when it comes to certain health problems.  Not only can we help you find a policy, but we are also more likely to find a company with lower prices. We can often find some companies with good prices to choose from.
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Complaint about Select quote Life insurance services
The other problem I have with SQ is its poor service. When you buy insurance – whether it is life insurance, car insurance or supplementary Medicare coverage – you normally make a connection with your agent.
When you have questions about your insurance or want to change your coverage, it is normal to reach out to your agent.
But when you buy insurance through SelectQuote, you may never talk to the agent who sold the insurance again. These agents just do not have time to check you out. They must continue to sell life insurance and other insurance products to meet their quotas.
However, follow-up is so important. Suppose you have changed address or changed bank and need to change account from which your payment comes. Or say you have a new baby and need to add her as a beneficiary.
Who would you call?
We build relationships with our customers. As your life insurance needs change over time, we encourage our customers to let us know. As your family grows and you need more coverage, we can help you decide how to supplement your current life insurance without incurring unnecessary costs.
Or when your children are earning financial independence and you need less coverage, we want to help you decide whether to go without coverage or find a universal life policy that can take care of your needs for the rest of your life.
It's nice when you can simply call your agent and have a conversation about your needs when your life changes. Unfortunately, with SelectQuote, you would start back in square one with a series of free quotes. You would have to go through the buying process again with another person.
If you know exactly what you need, it will be good. In that case, I would use SelectQuote myself if I did not have my own independent agency.
But if you want a conversation about your needs, you will not have the luxury of SQ which is basically a
That's why we want to emphasize the personal service we offer to all our customers because we like to keep contact and be there to help you with all your special needs.
There are little things like this that will not be completed if you do not do annual reviews.
What are SelectQuote ratings?
Many insurance companies are ranked by financial valuation companies such as Standard & Poor & # 39; s, Fitch, Moody & # 39; s or AM Best.
However, Select Quote Ratins do not exist because they are not insurance companies. It's an independent agency, like us.
In other words, if you get insurance through SQ, the actual insurance company will be some other company like AIG or Banner Life. Since it is the real company that will cut the check on the death of the insured, it is the company you want to check on their financial ratings.
Is SelectQuote a scam?
Absolutely not. I'm not sure why people ask this question, but they do. SelectQuote is legitimate and it helps many people find the right life insurance.
Some of the complaints I've seen that SQ is a scam are simply ridiculous. Some of it seems to be derived from SQ agents who ask for your social security number.
Shoppers are smart to be careful about giving out sensitive information, but all life insurance agents need your social security number. Your SSN identifies you as who you say you are, and it helps insurance companies collect records on you.
Are you going to get life insurance with Select Quote Insurance Services?
I really like what they do during SelectQuote. mostly. In no way do I think SelectQuote is a scam, as some websites claim.
Many of the complaints I have about them are issues that many huge online life insurance agencies deal with. For example, I recently wrote a similar review on Intelliquote complaints. Intelliquote has some of the same problems as SQ.
But I feel if you use an independent agent like me who's been in the business for a while, that's the absolute best way to go.
You get all the benefits of working with an agent who can take your case to any carrier, and you will also get an agent who can take his time with you in advance during the sales part and then can offer you service after sales.
* While doing our utmost to keep our site up to date, please be aware that "current" information on this site, such as quotation estimates, or relevant company information, may only be accurate from the last day of editing. Huntley Wealth & Insurance Services and its representatives do not provide legal or tax advice. Contact your own legal or tax advisor.