SelectQuote, Symetra and Munich Re Life US Partner to Launch ‘SwiftTerm Select’, a Transformative Instant-Issue Term Life Insurance Product

SelectQuote, Inc. (NYSE: SLQT) today announced a partnership with Symetra Life Insurance Company and Munich Re Life US to bring SwiftTerm Select^SM, a new instant decision¹ point-of-sale term life insurance product with competitive rates, to the SelectQuote platform. Beginning in the fourth quarter of 2022, qualified consumers ages 18-60 will be able to acquire up to $2 million of same-day coverage without a medical exam through SwiftTerm Select.

SwiftTerm Select will be sold exclusively through SelectQuote, a pioneer of direct-to-consumer insurance shopping since 1985 that has helped millions of consumers find the right life insurance coverage. The customized term life product will offer instant decision underwriting through alitheia, a Munich Re Life US platform. Policies will be issued by Symetra, a leader in annuities, life insurance and employee benefit products, and exclusively reinsured by Munich Re Life US, a leading provider of reinsurance and insurance-related risk solutions.

“We are committed to transforming the insurance buying and selling process through innovative product development, technology and strategic partnerships,” said Phil Williamson, Vice President of Business Development at SelectQuote. “We believe the future of life insurance is a combination of a digital and agent experience that seamlessly integrates real-time data with cutting-edge underwriting technology, providing consumers with high-quality choices at competitive prices.”

SwiftTerm Select reflects Symetra’s commitment to delivering insurance that’s fast, easy and affordable by offering both the agent and the consumer a simple and seamless term life insurance buying experience, going from the initial questionnaire to issuing a policy in as little as 25 minutes for qualified consumers.

“We are excited to partner with SelectQuote and Munich Re Life US on this custom offering. Empowering customers is at the core of why we built SwiftTerm Select, and SelectQuote’s combination of the digital and agent experience aligns directly with that mission. Together, with Munich Re Life US, we created an opportunity to expand our reach by making it even easier for customers to obtain term life insurance coverage,” said Mindi Work, Senior Vice President, Chief of Strategy at Symetra.