SelectQuote is a life insurance sales agency that helps consumers compare policies and apply for coverage with an insurance carrier. Because life insurance is a financial service rather than a physical product, “returns” typically do not apply. Instead, the practical policy topics are cancellation timing, premium refunds (if any), effective dates, and how billing disputes are handled. The controlling terms are usually set by the issuing insurance company and the signed application or policy documents, along with any state-specific rules that apply to the policyholder’s residence.
For most life insurance policies, the key window to know is the “free look” period offered by many carriers. During a free look period, a new policyholder may be able to review the delivered policy and cancel for a full refund of premiums paid, provided the request is made within the carrier’s stated timeframe and the policy has not been used in a way that affects eligibility. The length of the free look period varies by insurer and state, so the policy packet and carrier welcome materials should be checked for the exact number of days and the correct cancellation address or phone number.
Outside any free look period, cancellation generally stops future premiums but may not guarantee a refund of premiums already paid. If premiums were paid in advance, the carrier may prorate and refund any unearned premium depending on the carrier’s billing rules and the policy’s effective cancellation date. If the policy is monthly-billed, cancellation typically prevents the next renewal charge when processed before the carrier’s cutoff time. To avoid an additional draft, cancellation requests should be submitted as early as possible and confirmed in writing or via a carrier confirmation number.
If a premium charge appears incorrect, the recommended approach is to gather the policy number, billing date, amount, and payment method, then contact the billing party responsible for the charge. In many cases, premium drafts are processed by the issuing insurer or its billing administrator, not the agency. For bank drafts or card payments, consumers can also contact their financial institution to understand dispute timelines, while still working with the insurer to correct the billing record and prevent future charges.
If an application is submitted but coverage is not issued, any collected initial premium is typically returned by the carrier according to its underwriting and payment rules. If coverage is issued with changes (such as a different rate class), the applicant can usually accept the offer, request changes if available, or decline and ask about any refund of initial payments. For the most accurate outcome, consumers should rely on the carrier’s written policy documents and billing notices, and keep copies of cancellation confirmations, refund receipts, and any correspondence related to effective dates.
