The Insurance franchise is one of the fastest-growing businesses in the country.
So, instead of starting your own business and working all alone to make it successful, it is wise to partner with an already established insurance franchise to get almost instant success.
However, identifying the Best Insurance Franchise in India is not easy, especially when there are hundreds of options available.
However, to help you in this, we have compiled a list of the top 10 best insurance franchises in India. So, joining these franchises can help you grow your insurance franchise business effortlessly.
Also, without wasting time, check out this blog and find out the Top Insurance Agent Platform that meets your requirements perfectly.
Best Insurance Agent Program in India – List of Top 10 Insurance Franchise Opportunities
Franchises have become one of the most lucrative business opportunities over time. Moreover, as a franchisee, one can gain much-needed support and guidance from the franchisor.
Additionally, the brands listed here have emerged as top insurance advisor businesses due to their unique offerings. Moreover, their performance is what made them stand out in the crowd.
In addition, various factors, including brand reputation, commission, extensive network, investment, support, and product range, contribute to the success of these brands.
So, choosing them as a franchise partner could be an ideal deal for the new or upcoming entrepreneurs. Check out this complete blog and discover the Best Insurance Partner in India for you.
LIC Insurance Agent – Best Insurance Franchise in India
LIC is a trusted name nationwide for its comprehensive range of services, particularly in the insurance sector.
Moreover, becoming an LIC Insurance Agent is a significant achievement, as it offers a promising career.
Additionally, it is undoubtedly the Best Insurance Franchise in India, with over 14 lakh agents selling its products.
Moreover, as a licensed insurance agent, the agent is responsible for selling insurance products to clients based on their specific requirements.
Why Partner with LIC as an Insurance Agent?
Let’s look at some of the core reasons why one has to join LIC as an Insurance Agent.
- Firstly, at LIC, the agents receive competitive commission for all types of policies. For example, for life insurance, the agent gets a commission of 2% to 6% of the premium.
- Secondly, the agent registration and training fee is very affordable, which ranges between Rs.2,000 and Rs.3,500.
- Besides commissions, the agent can also make profits up to Rs.62,500 per month.
- Moreover, the agent can start getting the returns in just 3 to 6 months.
- Lastly, the dashboard feature helps the agent to keep everything handy.
Policybazaar Insurance Agent – Top Insurance Agent Business
Policybazaar is also a popular insurance aggregator in the fintech industry.
Moreover, it is a Top Insurance Agent Business with over 400+ agents operating nationwide.
Additionally, it is a trusted name in the insurance industry, ensuring a monthly payout for its agents.
Furthermore, the company offers a user-friendly digital platform for its agents. With them, it is easy to manage all the leads, reports, and client portfolios.
Why Partner with Policybazaar?
Let’s explore why you should consider becoming an insurance agent with Policybazaar.
- At Policybazaar, the life insurance commission is 3% to 10% of the premium for the agents. Similarly, for health insurance, the commission is 5% to 10% of the premium.
- In addition, investing in infrastructure is optional. However, if you choose to, it may cost between Rs.25,000 and Rs.55,000.
- Moreover, the agent can make a rewarding profit of up to Rs. 48,000 per month.
- Also, the Policybazaar insurance advisor can expect the return on investment in 3 to 6 months.
- Furthermore, Policybazaar lends its outstanding support through dedicated RM, service training, product training, webinars, back-office, marketing, etc.
ICICI Prudential Insurance Agent – Best Insurance Agent Platform
Another Best Insurance Agent Business with the finest reviews and ratings is ICICI Prudential.
Those seeking a rewarding career in the insurance sector can join this company to earn attractive commissions and experience exponential growth.
Additionally, become the most trusted advisor to the company and help customers find suitable policies that meet their requirements.
Moreover, with comprehensive training and support, the agent can grow professionally and expand their franchise business.
Why Partner with ICICI Prudential?
- Firstly, ICICI Prudential has got 2.5 lakh+ active agents working under its wings. This shows the trust and strong support it offers its agents.
- Also, to start as an agent, the minimum investment is Rs.37,000 to Rs.59,000, which is optional.
- In addition, on average, the insurance advisor of ICICI can earn up to Rs.65,000.
- Moreover, the premiums are very competitive. For example, the life insurance commission is 2.5% to 5% of the premium.
- Furthermore, the agents can access the dashboard feature, which allows them to manage leads and mapping. Additionally, it provides client activation, portfolio management, payout reports, and more.
SBI Life Insurance Agent – Best Insurance Advisor in India
SBI empowers its insurance agents to assist individuals in achieving their financial objectives, particularly those with limited financial knowledge.
Additionally, with no capital investment required, it enables its agents to have unlimited earning potential.
Moreover, the financial institution supports its agents with flexible work timings. Therefore, it becomes a go-to choice for individuals seeking a stable yet rewarding career.
Why Partner with SBI Life?
Well, let’s find out why SBI Life is ranked as the Best Insurance Advisor in India.
- At present, SBI has 2.6 lakh+ insurance agents working under its umbrella.
- For that, the total investment required to partner with SBI Life is Rs.27,000 and Rs.64,000.
- Also, the agents can earn a commission of 1.5% to 5% of the premium by selling the insurance products.
- Moreover, at SBI Life, the agents can sell products like life insurance and ULIPs to the clients.
- Furthermore, the eligibility to become an SBI Life agent is limited. Additionally, the agent must be at least 18 years old and of Indian nationality. Moreover, IRDAI and PoSP Certifications are compulsory.
Bajaj Allianz Insurance Agent – Top 10 Insurance Agent Business in India
Bajaj Allianz is yet another Top 10 Insurance Agent Business in India with over 1.5 lakh+ active agents.
Moreover, the company helps the agents build a rewarding career with zero capital investment in the insurance industry.
Additionally, agents can sell multiple policies to the same clients, generating a stable monthly income.
Moreover, the insurance agent business has flexible working hours. This will help agents achieve a better work-life balance.
Why Partner with Bajaj Allianz?
Let’s examine the key points why Bajaj Allianz is the best choice for insurance agents.
- Firstly, Bajaj Allianz offers its agents a decent commission of 2% to 4% of the premium for life insurance. Similarly, for the health insurance commission, it is 15% of the premium.
- In addition, the registration and training fees are reasonably priced, ranging between Rs.2,500 and Rs.4,500.
- Moreover, the agent can make a net profit of 2.169% every year.
- Furthermore, Bajaj Allianz Advisor has access to a dashboard which comes with a lead addition link, lead stage info, lead deletion, commission mapping, client activation and portfolio report, etc.
- Lastly, the company lends top-notch support to its agents.
Digit Insurance Agent – Top Insurance Advisor Business in India
Digit Insurance Agent has made a significant name for itself in the insurance industry with its exceptional services.
Therefore, partnering with a Top Insurance Advisor Business in India, such as Digit Insurance Agent, can provide agents with the opportunity to earn lucrative commissions.
Additionally, the company provides exceptional support to its agents through a wide range of products and exclusive training.
Moreover, with the training and support, agents can easily identify potential clients and sell them insurance products, earning attractive commissions.
Why Partner with Digit Insurance?
Here are some key advantages that make Digit Insurance the ultimate choice for aspiring insurance agents.
- Digit Insurance has 1.2 lakh+ agents, which itself is a vast number that inspires more agents to join the company.
- Also, the agents can earn commissions as well as referral bonuses, which are very attractive. For example, for a business insurance, the commission is 5% to 10% of the premium.
- Moreover, to set up the business and office, the registration and training fee is very minimal, which is Rs.12,000 to Rs.15,000.
- Furthermore, Go Digit extends its support to its agents in terms of service training, product training, acquisition support, marketing support, etc.
Tata AIA Insurance Agent – Best Insurance Partner in India
Tata AIA is yet another Top Insurance Partner in India for those looking to enter the insurance industry as an insurance agent.
Moreover, with over 1.3 lakh+ agents selling its products daily, it is one of the top insurance companies in the country.
Additionally, the company provides extended support to its agents at every stage of their journey, making it easier for them to succeed.
Furthermore, with the established trust and brand reputation, agents can easily onboard customers.
Why Partner with Tata AIA?
Here are some key points that support why Tata AIA is the ideal insurance partner for you.
- Firstly, the brand name Tata AIA has in the insurance industry is more than enough to give a headstart to the agents.
- Also, it offers interesting commission rates to its agents that range from 2% to 6% for life insurance and 1.5% to 4% for ULIP.
- Unlike its peers, Tata AIA has very minimal registration and training fees that range between Rs.1,500 and Rs.4.500.
- Moreover, when it comes to profits, the agents can earn up to Rs.45,500 net profit by selling Tata AIA insurance products to the clients.
Kotak Zurich Insurance Agent – Top Insurance Franchise in India
Kotak Zurich offers a wide range of insurance products, including motor, travel, business, and ULIPs.
Moreover, aspiring insurance agents who wish to partner with Kotak Zurich can get exceptional support and training to establish their own insurance franchise business.
Additionally, as a Kotak Zurich agent, the advisor can work flexible hours and earn a decent commission, as well as referral bonuses.
Furthermore, agents seeking growth in their careers can join hands with Kotak as an insurance agent and gain access to their exclusive product range.
Why Partner with Kotak Zurich?
Let’s check out the reasons why Kotak Zurich is the Top Insurance Franchise in India.
- First and foremost, with 35,000+ agents, Kotak Zurich is one of the rapidly growing insurance companies in the country.
- Secondly, the agents of Kotak Zurich can earn up to 5% to 10% of the premium by selling health insurance products. Moreover, it is a very decent amount for an agent to earn.
- Also, the registration and training fees are affordable, which range between Rs.1,500 and Rs.4,500.
- Furthermore, the agent can access advanced dashboard features that help them manage their clients efficiently.
HDFC Ergo Insurance Agent – Top Insurance Agent Program in India
Looking for an even better Top Insurance Agent Program in India? HDFC Ergo is here.
Moreover, HDFC Ergo is packed with the standout qualities that easily attract agents.
Additionally, although it currently has over 100 agents, it is reportedly expanding rapidly.
Additionally, anyone with a passion for the insurance business can join HDFC Ergo by investing a small amount, ranging from Rs.37,500 to Rs.63,500.
Why Partner with HDFC Ergo?
Let’s examine some of the key reasons why HDFC Ergo is the go-to company for both experienced and new agents.
- Firstly, for selling health insurance policies, the agents will get a commission of 5% to 10% of the premium.
- Secondly, the product range is broad, which covers health, motor, travel, business, and ULIP.
- Moreover, setting up an office space is not mandatory. Additionally, if necessary, the infrastructure investment would range from Rs.35,000 to Rs.60,000.
- Lastly, the company offers IRDAI and PoSP certification to its agents before starting the business.
Axis Max Life Insurance Agent – Top 10 Insurance Partner Program
Axis Max is the last one on our list, which is also a Top 10 Insurance Partner Program in India.
Moreover, the agents working with Axis Max Life have the privilege of serving clients by helping them meet their financial goals by selling the best-suited policies.
Additionally, with over 1 lakh agents, the company is growing at a faster pace with each passing day.
Additionally, agents can easily build their careers using the established trust and credibility.
Why Partner with Axis Max Life?
Discover why Axis Max Life is an ideal partner for your insurance career.
- Axis Max Life offers its agents an attractive commission of 3% to 8% of the premium on life insurance. Additionally, for ULIPs, it offers returns of 2% to 3%.
- In addition, the initial investment, which includes registration, training, and infrastructure costs, is very minimal.
- Moreover, the return on investment or breakeven at Axis Max Life is 3 to 6 months only.
- Furthermore, the dashboard gives agents access to leads, reports, payouts, commissions, etc.
- Regarding support, Axis Max Life lends its support in service training, webinars, product training, marketing, and acquisition.
Best Insurance Franchise with High Commission
| High Commission | |
| LIC | 2% to 15% of Premium |
| Policybazaar | 2.5% to 10% of Premium |
| Kotak Zurich | 2.5% to 10% of Premium |
| HDFC Ergo | 2% to 10% of Premium |
| Axis Max Life | 2% to 8% of Premium |
| Digit | 2.5% to 6% of Premium |
| Tata AIA | 1.5% to 6% of Premium |
| ICICI Prudential | 1.5% to 5% of Premium |
| SBI Life | 1.5% to 5% of Premium |
| Bajaj Allianz | 2% to 4% of Premium |
Most insurance agents seek partnerships that enable them to earn high commissions.
If your goal is to earn high commissions, you can refer to the table above, which lists the insurance partner companies in order of the commissions they offer.
Additionally, as you can see, LIC is the Best Insurance Partner with High Commissions, offering rates between 2% and 15% of the premium.
Second on the list is Policybazaar, which offers premiums ranging from 2.5% to 10%. Following closely is Kotak Zurich, which also provides premiums ranging from 2.5% to 10%.
Besides offering high commissions, these companies also provide excellent support and a wide range of products to their agents.
Top Insurance Partner at Low Investment
| Low Investment | |
| Axis Max Life | Rs.27,000 |
| SBI Life | Rs.27,000 |
| Bajaj Allianz | Rs.27,500 |
| Kotak Zurich | Rs.31,500 |
| Tata AIA | Rs.31,500 |
| LIC | Rs.32,000 |
| ICICI Prudential | Rs.37,000 |
| Policybazaar | Rs.37,000 |
| HDFC Ergo | Rs.37,500 |
| Digit | Rs.42,000 |
Many new individuals aspiring to become insurance agents seek low-investment options to start their franchise business.
Many renowned insurance companies offer franchises with low investment requirements.
Moreover, you can get your hands on the Top Insurance Franchise at a Low Investment, starting at just Rs.27,000.
Axis Max Life, SBI Life, and Bajaj Allianz offer their insurance franchise at the same price.
Additionally, the highest on our list is Digit, whose initial investment is Rs.42,000.
In addition to low investment, these big companies have a lot to offer their agents in terms of marketing support, a user-friendly digital platform, branding, and more.
Best Insurance Agent Program with Large Network
| Large Network | |
| LIC | 14 Lakh+ |
| SBI Life | 2.6 Lakh+ |
| ICICI Prudential | 2.1 Lakh+ |
| Bajaj Allianz | 1.5 Lakh+ |
| Tata AIA | 1.3 Lakh+ |
| Digit | 1.2 Lakh+ |
| Axis Max Life | 1 Lakh+ |
| Kotak Zurich | 35,000+ |
| Policybazaar | 400+ |
| HDFC Ergo | 100+ |
The larger the network, the greater the reach. Additionally, it suggests that the customer base is substantial.
Moreover, with an extensive network, the opportunities and earning potential for the agents are high.
As you can see on our list, LIC is the Best Insurance Advisor Platform in India, with the largest network of over 14 lakh agents.
Additionally, none of the other brands on our list come close to this number.
Moreover, SBI Life has 2.6 lakh+ agents and ICICI Prudential has 2.1 lakh+ agents. However, HDFC Ergo has only 100+ agents, which is the lowest among the listed companies.
So, if you are concerned about the network, choose the insurance partner with the most extensive network.
Top Insurance Advisor Business with High Expected Income
| High Expected Income | |
| ICICI Prudential | Approx. Rs.65,000 |
| Bajaj Allianz | Approx. Rs.64,000 |
| LIC | Approx. Rs.62,500 |
| Kotak Zurich | Approx. Rs.56,000 |
| SBI Life | Approx. Rs.53,500 |
| HDFC Ergo | Approx. Rs.52,500 |
| Policybazaar | Approx. Rs.48,000 |
| Tata AIA | Approx. Rs.45,500 |
| Digit | Approx. Rs.43,000 |
| Axis Max Life | Approx. Rs.43,000 |
Besides network, commission, and low investment, another major factor that influences the loan agent’s decision is the high expected income.
So, if you are looking for the Best Insurance Agent Platform in India with the highest income, ICICI Prudential stands in first position, offering approximately Rs.65,000.
Also, the second on our list is Bajaj Allianz, offering Rs.64,000, followed by LIC, offering approximately Rs.62,500.
However, with Axis Max Life, agents can only earn a monthly income of Rs.43,000, which is the lowest on our list.
Therefore, you can review the table above thoroughly and decide which company to partner with.
Top Insurance Agent Franchise with Great Support
While the investment, income, network, and commission are significant, another critical factor is support.
Moreover, with the brand’s tremendous support, the agent can easily climb the ladder of success.
Additionally, according to our list, the Best Insurance Franchise in India with excellent backing are LIC, Bajaj Allianz, and ICICI Prudential, which offer top-notch support to their agents.
Furthermore, these brands provide exclusive assistance in terms of marketing, lead generation, product training, customer service, and advanced digital platforms.
This outstanding support helps agents generate more leads, sell products faster, and earn more commissions.
Best Insurance Agent Franchise in India – Conclusion
Starting an insurance franchise business can be profitable, but only when all the requirements are met.
Additionally, with the right insurance partner, the agent can achieve significant success in the industry with ease.
Moreover, with the support of the franchisor, the franchise can easily navigate the difficulties in the insurance industry.
If you want to establish your own business and make a difference, opening an insurance franchise is an ideal choice.
We hope our blog on the Best Insurance Agent Platform in India helped you make the right choice for your career.
FAQs on Top 10 Insurance Franchise Business in India
Here, we have answered some frequently asked questions that address your concerns about the Best Insurance Advisor Program in India.
What is the top Insurance Agent Business in India?
LIC is the top insurance agent business in India. Additionally, with its high commission and extensive network, it occupies the top spot.
What is the typical cost to start as an Insurance Agent?
To start as an insurance agent, the minimum initial investment required is Rs.27,000.
Which Insurance Agent Program offers the best support system?
LIC, Bajaj Allianz, and ICICI Prudential offer the best support to insurance agents compared to other brands.
How much income can an Insurance Agent make?
The insurance agent can make a very decent income by selling insurance products to the clients. Additionally, on average, the agent can earn approximately Rs.65,000 per month.
Which Insurance Franchise requires the least investment?
Axis Max Life, SBI Life and Bajaj Allianz require the least investment. Moreover, they require Rs.27,000 to start the insurance franchise business.
Is pursuing an Insurance Agent Business a good career choice?
Absolutely. The insurance agent business is a good career choice as individuals are becoming more financially knowledgeable over time. Also, their growing interest in investing in insurance products makes it a good career option.
Which Insurance Agent Program offers the highest commissions?
The LIC insurance agent program offers the highest commission to its agents. Additionally, it provides a commission of 2% to 15% of the premium to its agents.
What are the monthly operating costs of running an Insurance Agent Business?
The monthly operating costs of running an insurance agent business are very minimal. Moreover, it costs between Rs.25,000 and Rs.60,000.
What is the process to become an Insurance Agent in India?
To become an insurance agent, the individual must first reach out to the insurance company. Also, the individual must get IRDAI and PoSP certifications.
Which Insurance Partner Program has the widest network?
LIC has the widest network with over 14 lakh+ agents working for it across the country. Additionally, SBI Life holds the second position with over 2.6 lakh agents.