What is a life insurance broker?

A SelectQuote agent explains the difference between a life insurance broker and life insurance agent to a customer

Navigating life insurance is confusing, leading a lot of people to seek help during the buying process. A life insurance broker works with multiple life insurance carriers to shop around and compare all of your options for coverage. A broker can offer tips for buying life insurance and make finding an affordable policy a lot easier. 

Is SelectQuote a life insurance brokerage?

SelectQuote is the oldest and largest independent direct to consumer term life insurance agency in the United States. In 1985, we developed an unbiased and pressure-free way to buy life insurance, and now we help consumers shop for not only life insurance, but also home insurance, auto insurance and Medicare insurance.

Difference Between Life Insurance Brokerage and a Life Insurance Agent

A life insurance agent represents one insurance company, selling the carrier’s products to consumers for a commission. A broker represents the consumer, helping them find the right insurance policy for their needs and budget by looking at multiple companies and their options for coverage. Since an insurance broker works directly with insurance companies, once you find the right policy, the broker will hand over your account to the carrier to finalize your policy. 

Benefits of Working With a Life Insurance Broker

There are many benefits that come from working with a life insurance broker, including:

  • Brokers are independent: Since brokers aren’t tied to one specific insurance company, they typically won’t try to push you toward one carrier. Instead, they’ll take into consideration all of your options for coverage and help decide which is right for you. 
  • Save time and money: Instead of finding quotes from multiple life insurance companies by yourself, a broker can quickly compare coverage and rates from multiple insurance companies. 
  • Brokers are your advocate: Throughout the buying process and even after the policy goes into effect, a life insurance broker can serve as your advocate and resource. They can help you through the application process and answer any questions you may have, even after your policy is finalized. 

Shop Life Insurance Easily With the Help of SelectQuote

At SelectQuote, we don’t just give price quotes, but instead, we handle every step of the insurance buying process. We’ll help you protect your family, shop highly-rated life insurance companies on your behalf, remove any barriers to getting insurance (whether your premiums have increased or you’ve been turned away from coverage) and make the buying process quick, convenient and hassle-free.*

We do the shopping. You do the saving.