We earn commissions from brands listed on this site, which influences how listings are presented.

SoFi Life Insurance Review

Reviews 9,986
SoFi
Visit Site
SoFi
SoFi
Excellent
Reviews 9,986
Bestmoney Staff
Sep. 08, 2025
2 min read
BestMoney Staff
SoFi Summary
SoFi, in partnership with Ladder, offers term life insurance policies with coverage ranging from $100,000 to $8 million and terms between 10 to 30 years. The application process is fully online, often providing instant decisions without the need for medical exams for qualifying applicants. This makes SoFi's term life insurance a convenient option for those seeking straightforward coverage.

Pros

  • Fully online application process
  • Coverage up to $8 million
  • Adjustable coverage options

Cons

  • No permanent life insurance options
  • Availability may vary by state

SoFi at a glance

8.8
Editorial score

Industry experience

SoFi was founded in 2011
9.0

Coverage amount and flexibility

Offers coverage of $1 million+
9.0

Customer services and support

Multiple communication options, ability to speak to an agent
9.0

Online experience

Site is easy to use, but doesn't display all relevant information: I had to fill out the full application to see quote
9.0

Direct insurer?

Marketplace with direct purchase available in site
8.0

Suitable For?

SoFi's term life insurance is suitable for individuals seeking:

  • Flexible coverage amounts and term lengths

  • A fully online application process

  • The ability to adjust coverage as life circumstances change

Features/Highlights


FeatureDetails
Coverage Amounts$100,000 to $8 million
Term Lengths10, 15, 20, 25, or 30 years
Application ProcessFully online with potential for instant approval
Medical ExamNot required for qualifying applicants
Policy AdjustmentsAbility to increase or decrease coverage
AvailabilityVaries by state; check SoFi's website for details

Product Choices and Terms

SoFi offers term life insurance policies with the following options:

  • Coverage Amounts: Ranging from $100,000 to $8 million

  • Term Lengths: 10, 15, 20, 25, or 30 years

  • Policy Adjustments: Policyholders can adjust their coverage amounts as their needs change

How to Get Started with SoFi

  1. Visit SoFi's Website: Navigate to the life insurance section.

  2. Get a Quote: Provide basic information to receive a personalized quote.

  3. Apply Online: Complete the application process, which may include answering health-related questions.

  4. Receive Decision: Qualifying applicants may receive instant approval.

Is There a SoFi App?

Yes, SoFi offers a mobile app that allows users to manage their financial products, including life insurance policies. Through the app, users can view policy details, make adjustments, and access customer support.

How Safe Is It?

SoFi employs industry-standard security measures to protect user data, including encryption and secure servers. Additionally, SoFi is a reputable financial services provider with a range of products and services.

Help & Support

  • Phone: 855-456-7634
  • Email: customerservice@sofi.com

  • Address: 234 1st Street, San Francisco, CA 94105

  • Support Hours: Not specified; contact SoFi for details

FAQs

Q: Does SoFi offer permanent life insurance?
 A: No, SoFi currently offers only term life insurance policies.

Q: Can I adjust my coverage amount after purchasing a policy?
 A: Yes, policyholders can increase or decrease their coverage as their needs change.

Q: Is a medical exam required to apply?
 A: Not for qualifying applicants; some may need to provide additional health information.

Conclusion

SoFi's term life insurance, offered in partnership with Ladder, provides flexible coverage options and a streamlined online application process. With the ability to adjust coverage amounts and terms, it caters to individuals seeking adaptable life insurance solutions.

Methodology

This review was created using information from SoFi's official website, support articles, and reputable financial news sources.

Having explored the features and benefits of this product, you might be curious about how it stacks up against its competitors. We encourage you to visit our comprehensive comparison chart for a broader perspective. This chart offers a detailed juxtaposition of this product with other leading brands, highlighting differences in features, pricing, and customer ratings. It’s an invaluable resource for contrasting your options and making an informed decision that best suits your needs. Don’t miss out – take a moment now to view our comparison chart and see how your chosen product compares in the wider market.

AI was used in the creation of this content, along with human validation and proofreading.

BestMoney Staff
Written by
Bestmoney Staff
The BestMoney.com editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.
Top Life Insurance
Ethos
Ethos
Read Review|Visit Site
Read all reviews

Must Reads

Unique Life Insurance Perks
Sep 13, 2025
What Senior Citizens Should Consider When Choosing a Life Insurance Provider
Sep 13, 2025
Read all articles
Trustpilot reviews
See what some customers are saying about SoFi
Excellent • Reviews 9,986
on
Excellent
80%
Great
6%
Average
2%
Poor
2%
Bad
9%
We upload 100 to 400 Trustpilot reviews to our website daily, displaying them by default from "best" to "worst". You have the option to adjust the sorting criteria. If you wish to see all reviews, you can visit Trustpilot's website here.
Sort by