An Insurance Marketing Firm is an IRDAI-registered distributor permitted to solicit insurance from several insurers at once, rather than being tied to a single one the way an agent or a corporate agent is. It can hold up to six insurer relationships in each of life, general and health, and distribute other financial products alongside. Its registration covers at most three named districts in one state. It may still procure business from anywhere in India, but its offices, its sales persons and the insurer office its business is logged through all sit inside that area, and that constraint decides whether the licence suits your business.
Pick the speed and depth that matches your need. Same quality, same CA team — only the timeline changes.
Timeline: 3 to 5 working days
Timeline: 3 to 6 months
Timeline: 3 to 6 months
Government fee — paid by you at actuals
IRDAI charges are paid by you at actuals. The application fee accompanying Form A is ₹5,000 and is non-refundable, so it is spent whether or not the registration is granted — which is the main reason we run the advisory stage first. Incorporation charges and stamp duty for the entity, examination fees for the Principal Officer and each Insurance Sales Person, and the premium on professional indemnity cover are separate and also at actuals. IRDAI has approved an intermediary amendment that would replace three-year renewal with perpetual registration on a ₹10,000 application fee plus an annual fee; until it is notified the ₹5,000 fee stands, and we tell you the expected total before you commit to anything.
Every price above is a professional fee, excluding GST and government charges. 50% on delivery.
All fees and charges listed are indicative only and do not constitute a binding offer. Final amounts may vary depending on the volume of work and the complexity involved.
IMF against corporate agency against broking, and then which districts, because the aspirational rule and the net worth threshold both follow from that choice. This conversation happens before anything is filed.
The entity name must contain the words Insurance Marketing or IMF, so the NOC comes before incorporation, not after. It is valid for six months.
A company, LLP or co-operative society, with the approved name. If you already hold an entity under a different name, this is where the sequencing usually goes wrong.
₹10 lakh, or ₹5 lakh in the single aspirational district case, certified by a chartered accountant and supported by the firm's bank statement.
Qualification certificates, 50 hours of IMF training, the examination pass certificate and a fit and proper declaration. A PO who qualified as the Principal Officer of a broker, corporate agent or web aggregator within the last five years is exempt from both training and examination.
Examination pass certificates, qualification certificates, and address proof within the state of registration, which constrains hiring as well as selling.
At least one consent letter from an insurer you intend to work with is mandatory with the application. In practice this is the step that most often delays a file.
With the three-year business plan, organisation chart, charter documents, net worth certificate, fit and proper declarations and the non-refundable fee of ₹5,000.
Then put the ongoing compliance in place: professional indemnity cover, periodic reporting, records, and the renewal diary.
Tell us your requirement, a CA will call you in 30 minutes.
Up to six tie-ups in each of life, general and health, so as many as eighteen relationships. A large share of published guidance still says two in each category, which was the position before IRDAI raised the limit.
The entity name must contain Insurance Marketing or IMF, so we take the IRDAI no objection certificate before incorporation. Incorporating first with a non-compliant name means a name change before you can even apply.
Three districts in one state, and at least one aspirational once you take more than one. Metros frequently span more districts than founders expect, so the footprint is modelled before the entity exists rather than amended afterwards.
Mutual funds as an ARN holder, pension products, RBI-regulated products and permitted insurance servicing work alongside the insurance commission, subject to the relevant regulator.
An IMF registers in one state, staffs from that state and books its business through its registered area, however widely it casts for customers. If you need offices or sales teams across state lines, corporate agency or broking is the answer, and you hear it at the enquiry rather than after a non-refundable fee.
Applications fail on district footprint, net worth evidence or an unusable business plan, all settled before filing. The advisory fee is credited in full against the registration fee if you proceed.
