2010 Pennsylvania Code
Title 20 - DECEDENTS, ESTATES AND FIDUCIARIES
Chapter 72 - Prudent Investor Rule
7208 - Life insurance.

     § 7208.  Life insurance.
        A trustee may acquire or retain a contract of life insurance
     upon the life of the settlor or the settlor's spouse, or both,
     without liability for a loss arising from the trustee's failure
     to:
            (1)  determine whether the contract is or remains a
        proper investment;
            (2)  investigate the financial strength of the life
        insurance company;
            (3)  exercise nonforfeiture provisions available under
        the contract; or
            (4)  diversify the contract.

        Effective Date.  Section 7(1) of Act 28 of 1999 provided that
     section 7208 shall take effect immediately.
        Special Provisions in Appendix.  See section 6(b) of Act 28
     of 1999 in the appendix to this title for special provisions
     relating to applicability.