IDBI Federal Insurance forays into retirement income segment

Private life insurer IDBI Federal Insurance has announced its foray into retirement income segment.

It has launched a single premium, non-participating, non-linked general annuity plan -- IDBI Federal Life Insurance Guaranteed Lifetime Income Plan, that would offer guaranteed regular income for life to help manage expenses during the retirement phase of life.

The guaranteed income, akin to drawing a salary, could be drawn with pre-determined periodicity - monthly, quarterly, half-yearly or on an annual basis.

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