Use a copy of the Uniform Prudent Investor Act (UPIA) to help trustees understand there are 3 distinct duties under the Act, namely:

1. To monitor TOLI holdings [see page 10 of the Act],
2. To investigate the suitability of TOLI holdings [see page 10 of the Act] so as to justify TOLI expenses [see Section 7 on page 14 of the Act] and set reasonable expectations as to the rate of return on invested assets underlying TOLI cash values [see Section 2(c) on page 7 of the Act].
3. To manage TOLI holdings as a prudent investor would [see Section 2(c) on page 7 of the Act] to minimize costs and maximize benefits relative to risk tolerance (and demonstrate that such is not your opinion to be considered against someone else's opinion but instead the law of the land in 44 states).
4. Click Here to see if your state has adopted UPIA.