"17/5/2011- IDBI Federal Life Insurance launches a single premium pension product on the unit-linked platform, dubbed IDBI Federal Retiresurance Milestone Pension Plan. The unit-linked pension plan will facilitate wealth building by offering a choice of guaranteed investment options for a secure life after retirement. IDBI Federal is a tripartite joint venture between state-run IDBI Bank, private lender Federal Bank and Europe-based global insurance company Ageas. The product offers a choice of two investment options -- Guaranteed Return Funds, which will invest in fixed income instruments, and Guaranteed Growth Funds, which will invest in debt instruments and also a small portion in equity. ""With the increase in life expectancy, many Indians could be spending a good 20 to 25 years of their life in retirement... IDBI Federal visualises the dire need for building wealth to support their standard of living post-retirement as well,"" G V IDBI Federal Life MD & CEO Nageswara Rao said. Under the plan, policyholders can receive a part of the maturity benefit as a lump sum and invest the remaining in an annuity, which will ensure regular income for life. Alternatively, customers can purchase an annuity with the entire maturity benefit and get a higher and regular income for life."