E*Trade on Tuesday announced a deal with Inviva to sell life insurance. Inviva is a holding company for American Life Insurance Company of New York. E*Trade will sell the insurance through its Web site, offering coverage between $250,000 and $1 million over 10-year and 20-year terms. The Menlo Park, Calif.-based online brokerage said it plans to launch a site to showcase a range of insurance products and tools. E*Trade has been steadily diversifying in recent months. On Monday, the company announced a new site that is intending to offer financial advice and planning, and also reported higher fourth-quarter earnings, in part, because of bigger moves into banking and mortgages.