Pennsylvania § 7208 Life insurance

Pennsylvania Statutes

§ 7208 — Life insurance

Pennsylvania § 7208

Title 20DECEDENTS, ESTATES AND FIDUCIARIES

Ch. 72PRUDENT INVESTOR RULE

This text of Pennsylvania § 7208 (Life insurance) is published on Counsel Stack Legal Research, covering Pennsylvania primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

20 Pa. Cons. Stat. § 7208 (2026).

Text

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.

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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.