SoFi expects to roll out the product, which pays out a benefit if a customer dies during the period of time covered by the plan, before the end of the year or as soon as next month, said one of the people, who asked not to be identified because the plans aren’t final. The company hopes to attract customers who haven’t used its existing services, the person said. SoFi declined to comment. Life insurance could be an important new business for SoFi as established competitors face mounting pressure from digital upstarts that can underwrite much faster. SoFi could take a slice of the $159 billion in U.S. life insurance premium revenue generated last year, according to data from the National Association of Insurance Commissioners, a trade group.

http://www.bloomberg.com/news/articles/2016-09-21/sofi-is-said-to-offer-life-insurance-plans-in-the-coming-weeks