If you want to start an insurance brokerage in India, understanding the cost and process for IRDAI insurance broker license is essential. Here’s a simple breakdown.

Process for IRDAI Insurance Broker License:

Choose your license type (Direct or Composite).

Submit your application on the IRDAI portal with business, staff, and financial documents.

Clear the IRDAI Broker Examination.

Complete IRDAI background checks and receive your license, valid for three years.

Cost for IRDAI Insurance Broker License:

Application Fee: ₹50,000 for Direct Broker, ₹1,00,000 for Composite Broker

IRDAI Exam Fee: ₹2,000

Training Cost: ₹10,000–₹20,000
Total expenses typically range from ₹60,000 to ₹2 lakh.

Helios Global helps new brokers navigate the entire IRDAI licensing process smoothly, from documentation and compliance to renewals.