SoFi and Prudential Financial team up to expand access to life insurance

Eligible SoFi members can now obtain Prudential term life coverage in minutes without leaving the SoFi app

SAN FRANCISCO and NEWARK, N.J., Oct. 21, 2026 — SoFi and Prudential Financial announced a new partnership that will allow more than 15 million SoFi members to purchase Prudential term life insurance directly through the SoFi app.

Through a fully digital experience built and operated by SoFi, members can explore Prudential's SimplyTerm life insurance, receive an instant quote, and apply for and purchase coverage in one place. The embedded experience is designed to streamline the application process and reduce redundant data entry, with eligible members often able to obtain coverage in minutes without a medical exam or lab work.

"We are thrilled to work with SoFi and bring an elevated life insurance experience to its customers through the SoFi app," said Salene Hitchcock-Gear, president of Individual Life Insurance at Prudential.

"Together, we've developed a seamless way to access personalized insurance protection in just a few minutes. Our research shows that many people believe life insurance is far more expensive and complicated than it really is. This is a tremendous opportunity to break through that cycle with a distinguished financial institution that believes, as we do, that intelligent technology can help make our financial lives better."

Prudential said the partnership is part of its effort to help close the life insurance protection gap. Citing research from LIMRA and Life Happens, the company noted that nearly 100 million Americans report being uninsured or underinsured.

"Life insurance isn't just about preparing for the unexpected — it's about helping protect the financial future you're building," said Brian Walsh, Ph.D., CFP, head of Advice & Planning at SoFi.

"It can help the people you care about cover everyday expenses, manage outstanding debt, and continue working toward important financial goals. At SoFi, we believe protecting what you've built is an essential part of getting your money right, and that means thinking about insurance as part of your broader financial plan."

Prudential said it already partners with credit unions, mortgage providers and digital finance platforms. The agreement with SoFi expands that strategy to one of the nation's largest digital financial platforms.

About SoFi

SoFi Technologies Inc. is a digital financial services platform serving more than 15 million members. The company offers borrowing, saving, spending, investing and insurance-related services through its mobile app and technology platform.

About Prudential Financial

Prudential Financial Inc. is a global financial services company with approximately $1.6 trillion in assets under management as of June 30, 2026. The company provides investment, insurance and retirement products across the United States, Asia, Europe and Latin America.

SimplyTerm life insurance is issued by Pruco Life Insurance Company and is not available in all states. SoFi is an independent organization and is not affiliated with Prudential Financial