After months of negotiations, the race to acquire IDBI-Federal Life Insurance has entered in to the final leg, as key modalities are being discussed and one of them could be the deal breaker, said people familiar with the matter.

Max Life Insurance and Aditya Birla Sun Life Insurance are in race to buy 100% stake in IDBI Federal Life Insurance.

The key modality is on Bancassurance and negotiations are going on between the buyers and the sellers, as far as its period concerned. Also the suitors are seeking exclusivity of Bancassurance tie-up.