SoFi and Prudential Financial Team up to Help Expand Access to Life Insurance for More Americans

Prudential Financial (PRU) and SoFi (SOFI) have teamed up to offer Prudential term life insurance directly through the SoFi app.

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10/21/2026 - 09:00 AM EDT

Eligible SoFi members can now obtain Prudential term life coverage in minutes, without leaving the SoFi app they already use to manage their money

SAN FRANCISCO & NEWARK, N.J.--(BUSINESS WIRE)-- SoFi (NASDAQ: SOFI) and Prudential Financial, Inc. (NYSE: PRU) are joining forces to provide over 15 million SoFi members the ability to purchase Prudential term life insurance directly within 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. Available through the SoFi app, the embedded experience streamlines the application process and reduces 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.”

This is the latest example of Prudential Individual Life Insurance’s ongoing efforts to help close the protection gap by reaching people where cost and complexity have long kept them from getting the coverage they need. A recent report by LIMRA and Life Happens found that nearly 100 million Americans report being either uninsured or underinsured. Reaching more Americans is a priority for Prudential, and building coverage into a platform that is closer to where the customer transacts, like the SoFi app, is one example of that work.

“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^®, and 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 partners with credit unions, mortgage providers, and other leading digital finance and insurance platforms. Its agreement with SoFi brings that approach to one of the largest digital finance platforms in the country.

About SoFi
SoFi Technologies (NASDAQ: SOFI) is the everything app for digital financial services on a mission to help people achieve financial independence to realize their ambitions. 15.8 million members trust SoFi to borrow, save, spend, invest, and protect their money and buy, sell and hold their crypto – all in one app – and get access to financial planners, exclusive experiences, and a thriving community. Banks, fintechs, and brands use innovative capabilities from SoFi Tech Solutions to serve over 134 million global accounts. For more information, visit www.sofi.com or download our iOS and Android apps.

ABOUT PRUDENTIAL
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of June 30, 2026, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for over 150 years. For more information, please visit news.prudential.com.

SimplyTerm life insurance is issued by Pruco Life Insurance Company, located in Newark, N.J. Product is not available in all states.
SoFi is an independent organization and is not an affiliate of Prudential Financial.

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