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Get a quote if…
Pick something else if…
20 to 60
Issue Age
$100,000 to $8,000,000
Coverage Amount
No
Medical Exam Required
| Free Quote | Online |
|---|---|
| Insurance Products | Term life insurance |
| Issue Age | 20 to 60 |
| Coverage Amount | $100,000 to $8,000,000 |
| Term Lengths | 10, 15, 20, 25 or 30 years |
| Medical Exam Required | No |
| Ways To File A Claim | Online, Phone |
| Policy Riders Offered | Yes |
SoFi only offers term life insurance. You can choose from 10, 15, 20, 25 and 30 year terms, depending on your age.
SoFi doesn’t offer any riders either. They believe that riders complicate life insurance and don’t provide a significant benefit for their added cost.
With a reputation for excellent customer service and competitive prices, SoFi makes it easier than ever to protect the ones you love. If you’re healthy and under 40, you can find 10-, 15-, 20-, 25- and 30-year term life insurance plans with costs that range from a mere $15 to $45 a month.
SoFi offers coverage of up to $1 million without a medical exam, but you could get up to $5 million if you go through one. Medical exam requirements depend on your age and medical history.
Most insurance companies ask questions about your physical habits and health to determine your eligibility and coverage. Even though SoFi won’t require a medical exam, you’ll still need to meet underwriting guidelines that could result in rejection if, for instance, you’re a regular smoker or have a risky health history.
SoFi has a great reputation on Trustpilot, with 85% of 2,000 plus reviews falling into the “excellent” category and a TrustScore of 8.9 out of 10.
SoFi’s profile on the Better Business Bureau is a bit of a mixed bag. It is not accredited with the BBB but gets an A- from the organization. However, the majority of more than 150 customer reviews are 2 star — all of which are unrelated to life insurance.
SoFi collects your personal information in order to help you use its services and to suggest other products that might be of interest to you.
Your data is not sold to third parties and is kept safe with administrative, technical and physical safeguards.
Applying is easy, but you’ll need to submit more than just your personal and contact information. Generally, you’ll need to provide:
Most applicants are presented with an instant decision. If approved, register your policy online so you can make a payment, update your personal information, renew your policy and more.
If you’re young and healthy, slogging through lengthy life insurance applications can leave you discouraged. Faced with providing blood work, samples and your medical history for eligibility, you might be tempted to walk away from the process completely.
To ease the process of protecting your loved ones, the online personal finance company SoFi pairs with Ladder Life Insurance to simplify the process of getting affordable life insurance for people in their 20s and 30s with an application that you can complete in under 30 minutes.
If you’re a millennial or young adult who’s looking to protect your loved ones with an easy-to-get term life insurance policy, consider SoFi’s offerings backed by Ladder Life. Offering an easy application process and no medical checkup required, SoFi could be just what you need.
