New York Life Insurance Company says consumers may want to cope with the decline of defined benefit pension plans by using deferred annuities that allow for a flexible schedule.

A consumer might start with an initial minimum premium payment, then make additional, smaller payments and defer or accelerate the income start date to accommodate changes in personal needs, according to New York Life, New York.

In other ideas news:

- National Life Group, Montpelier, Vt., sees interest in the idea of offering indexed products in the second-to-die universal life market.

Couples use second-to-die policies, which pay off at the death of the second spouse, in estate planning arrangements and other arrangements.

Providing asset growth linked to the performance of an investment index could make a second-to-die UL policy useful for accumulating wealth as well as transferring it, National Life says.

- Security Mutual Life Insurance Company, New York, is talking about a term life conversion feature that could let a policyholder convert some of the term coverage into whole life coverage at pre-set periods without providing evidnece of insurability.

- Allison Bell

Other ideas coverage from National Underwriter Life & Health: