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Insurance Marketing Firm (IMF) Registration (IRDAI)

An Insurance Marketing Firm (IMF) is licensed by IRDAI to market and distribute insurance products along with other financial products like mutual funds, pension products, and small savings schemes. IMF is a unique multi-product distribution licence.

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Reviewed byInsurance and regulatory compliance expert•Updated May 5 2026, 02:30 PM
Professional Fees
Loading...+ IRDAI Application Fees
Estimated Time
30-60Working Days
IMF registration under IRDAI (Registration of IMF) Regulations, 2015
Multi-product distribution (insurance + mutual funds + pension)
Principal Officer certification and training
IMF code allocation and insurer tie-up support
Annual compliance reporting advisory
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IMF Registration Overview

An IMF is a unique distribution channel allowing entities to sell insurance products and other financial products (like mutual funds) through Insurance Sales Persons (ISPs).

Establishing a formalized structure through Insurance Marketing Firm (IMF) Registration is a critical milestone. It not only grants you legal recognition and credibility in the market but also offers significant operational advantages. This includes limited liability protection, better access to formal credit and funding, and the ability to attract top-tier talent and partnerships. We ensure that your foundational compliance is rock-solid from day one.

Our team helps with eligibility checks, document collection, application preparation, filing, and follow-up support so the process stays clear from start to finish.

Eligibility

Only companies registered under the Companies Act or LLPs are eligible. Minimum net worth requirement is Rs. 10 Lakhs (for specific areas) or Rs. 5 Lakhs (for aspirational districts).

Registered Company/LLP
Minimum Net Worth Criteria
Principal Officer Required
Insurance Sales Persons (ISP)

Benefits

Multi-Product Selling

Sell insurance alongside mutual funds, NPS, and small savings under one licence.

Rural Outreach

IMFs are promoted to improve insurance penetration in rural and semi-urban areas.

Low Setup Cost

Lower minimum net worth requirement compared to full insurance broker licence.

Regulatory Backing

IRDAI-licensed IMFs enjoy trust from insurers and SEBI-registered distributors.

Documents Required

  • Certificate of Incorporation of the company
  • Memorandum and Articles of Association
  • Net worth certificate (minimum Rs. 10 lakh) certified by CA
  • Principal Officer qualification proof and IRDAI exam clearance
  • List of directors and their background details
  • Office address proof of IMF
  • IT infrastructure plan for policy management
  • Board resolution for IMF registration

Process

Step 1

Entity Registration

Form a Company/LLP with IMF as its main object.

Step 2

Capital Infusion

Demonstrate required net worth.

Step 3

Appoint PO and ISPs

Ensure training and examination of the Principal Officer and ISPs.

Step 4

Submit IRDAI Application

File the detailed application detailing the proposed area of operation.

Step 5

IRDAI Inspection & Review

IRDAI may inspect premises and scrutinize documents.

Step 6

IMF License Issued

Receive the license to commence operations.

Timeline

IMF registration approval from IRDAI takes approximately 3 to 4 months, subject to fulfilling all regulatory and training requirements.

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Frequently Asked Questions

What can an IMF sell?

Besides insurance (from up to two Life, two General, and two Health insurers), an IMF can sell mutual funds, pension products, and act as a banking correspondent (with respective approvals).

What is the area of operation for an IMF?

An IMF is initially allowed to operate only in the district where it is registered.

Who can be an ISP?

An Insurance Sales Person must hold a valid license, undergo training, and be exclusively engaged by the IMF.

What is the capital requirement?

Rs. 10 Lakhs generally, reduced to Rs. 5 Lakhs for aspirational districts.

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