How much does IMF registration cost?
Patron's IMF registration service starts from INR 24,999 (exclusive of GST and government charges). On top of professional fees you pay the IRDAI application fee of INR 5,000 plus statutory costs such as company or LLP incorporation, the CA net-worth certificate and professional indemnity cover. We give you a fixed, itemised quote before we begin.
How long does IMF registration take?
Once your entity is incorporated and the Principal Officer has cleared the IMF exam, IRDAI typically approves a complete application within about 30 to 60 working days. Total time from a fresh start depends on incorporation, the NOC for the name, and Principal Officer and ISP training and exam scheduling. We run these steps in parallel to keep your timeline tight.
What documents are required for IMF registration?
Key documents include Form A, the NOC and ROC incorporation certificate (with "IMF" in the name), MoA and AoA or the LLP agreement plus PAN, a State Bank of India account, a CA net-worth certificate, the Principal Officer's and ISPs' IMF exam and qualification certificates, a three-year business plan with org chart and infrastructure photos, insurer consent letters, and Fit and Proper declarations.
Who is eligible to set up an IMF?
A Company, LLP, or Co-operative Society can register, provided its name contains "Insurance Marketing Firm" or "IMF" and it maintains a net worth of INR 10 lakh (INR 5 lakh for a single aspirational district). It must appoint a qualified Principal Officer and at least one ISP. IMFs operate on a district basis, up to a maximum of three districts.
Can Patron handle the entire IMF setup and ongoing compliance?
Yes. Patron is a single window for the full lifecycle: company or LLP incorporation with the right name, IRDAI registration on imf.irda.gov.in, Principal Officer and ISP certification, and the annual compliance retainer covering IRDAI returns, premium accounting, the CA net-worth certificate, and PI renewals.
Do you provide IMF registration in my city?
Yes. We serve clients across India, including Tier-2 and Tier-3 cities such as Indore, Lucknow, Nagpur, Coimbatore and Jaipur, and we specialise in the aspirational-district route that lowers the net-worth bar to INR 5 lakh. The process is filed online with IRDAI, so your physical location is not a barrier.
Does an IMF registration need to be renewed?
No longer. Since 5 February 2026, under the Insurance Laws Amendment 2025 (Sabka Bima Sabki Raksha), IMF registration is perpetual — the earlier three-year renewal cycle has been discontinued. You must, however, keep annual compliance current, including the CA net-worth certificate within three months of financial-year close and continuous PI cover.
What is the difference between an IMF and a corporate agent?
A corporate agent can tie up with up to nine insurers per category (27 in total) but typically operates as an extension of those insurers. An IMF ties up with up to two insurers per line (life, general, health) yet operates independently with its own Insurance Sales Persons and can also distribute other financial products — giving you an independent, multi-product business rather than a single-insurer channel.