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SoFi and Prudential Financial have partnered to offer Prudential’s term life insurance directly through the SoFi app, giving more than 15 mn members access to coverage without leaving the platform.
The digital service, developed and operated by SoFi, allows members to review Prudential’s SimplyTerm insurance, receive an instant quote and complete their application and purchase online.
Eligible customers often obtain coverage within minutes, without medical examinations or laboratory tests. The process also reduces repeated data entry.
Salene Hitchcock-Gear, president of Individual Life Insurance at Prudential, said the partnership addresses consumer concerns about insurance costs and complicated application procedures. Prudential’s research indicates many Americans overestimate the price and difficulty of obtaining life insurance.
The agreement forms part of Prudential’s efforts to reach consumers who remain uninsured or lack sufficient protection. According to research by LIMRA and Life Happens, nearly 100 mn Americans report having inadequate life insurance coverage or none at all.
By offering SimplyTerm within an established financial services app, Prudential aims to reach customers during their routine financial activities rather than requiring a separate insurance purchase process.
Brian Walsh, head of Advice & Planning at SoFi, said life insurance supports household financial planning by helping beneficiaries meet living expenses, repay outstanding debt and maintain longer-term financial commitments.
Prudential already distributes insurance through credit unions, mortgage providers and digital financial platforms. Its agreement with SoFi extends this distribution model to a financial services business with 15.8 mn members.
SoFi provides banking, lending, investment and insurance services through one application, alongside cryptocurrency trading and financial planning. Its SoFi Tech Solutions division serves banks, fintech companies and other businesses, supporting more than 134 mn accounts globally.
Prudential Financial operates across the United States, Asia, Europe and Latin America. The company reported approximately $1.6 n in assets under management as of June 30, 2026.
