Protective Life – WinFlex – Update

May 1, 2025, v7.8.36

Repricing of Protective Classic Choice Term 5/25

PCCT 5/1/2025 Nationwide (excluding NY)  

· The Term Growth Plan (TGP) 5/1/25 reprice marks the launch of an enhanced accelerated underwriting program which will allow for increased lab-free underwriting and technical improvements to allow greater instant decisioning and issue in the up to $1M and age 50 cohort. The reprice targeted small rate increases to this group up to a 1% cap.

o No cells experienced rate decreases.

o Additionally, some Term 15 older age premiums were increased.

· Premium rate changes were increased for a total average impact of 0.31% (0.55% Sales Weighted, 0.53% quin ages only) increase to Non-Smoker rates. Increases to the TGP cohort ranged from 0% - 1%.

o The largest increases occurred in Term 15 older ages and ranged from 0%-11%.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smokers untouched for all term periods (level and post level).

Business Transition Rules:

· For paper business: signed applications must be received on or before May 16, 2025.

· For electronic ticket business and direct writers: signed applications must be received on or before May 30, 2025.

· Any application in Underwriting on May 1, 2025, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does NOT have a rate change, however the plan codes are changing, so they will follow the above rules.

Strategic Objectives Variable Universal Life II (SOVUL II)

· Buffered Growth & Income Model Portfolio is longer available due to removal of all the Invesco V.I. S&P500 Buffer funds.

· The fund allocations for the following model portfolios were updated due to removal of the Invesco V.I. S&P500 Buffer funds: Conservative Growth, Moderate Growth, & Growth and Income.

· Some of the Fund Expenses have been updated.

March 31, 2025, v7.8.35

Protective Income Creator Fixed Annuity

· The GLWB Annual Withdrawal Factors have been updated effective 4/7/2025.

Life Products Updates:

· For Ages 76 to 79, Table Ratings greater than 4 are no longer allowed for the life products.

March 3, 2025, v7.8.34

For Ages 76 to 79, Table Ratings greater than 4 are no longer allowed for Classic Choice Term (CCT), Lifetime Assurance UL (LAUL), & Indexed Choice UL (ICUL) products.

February 3, 2025, v7.8.32 & 33

Protective Indexed Choice UL – Interest Rate Update

The following interest rates have been updated for the Indexed Choice UL 9/23 and NY products for the policies starting with effective date of 3/15/2024:

· AG 49-A Maximum Illustrated Rate decreased from 5.79% to 5.55%

· Minimum Indexed Interest Rate for supplemental exhibit increased from 3.61% to 3.81%

· Maximum Indexed Interest Rate for supplemental exhibit decreased from 7.21% to 6.92%

· Non-guaranteed loan interest rate exhibit decreased from 5.29% to 5.05%

· Crediting rate on the Fixed Account exhibit remain unchanged at 3.50%

· The Cap Rate exhibit decreased from 9.0% to 8.50%

· Indexed Interest Rate Date Range of “12/31/1958 to 12/31/2023” has been updated to “12/31/1959 to 12/31/2024”.

Strategic Objectives VUL 2-24

· The DFA Funds have been renamed to Dimensional Funds.

Indexed Annuity

The following was updated in the illustration output based on the S&P 500, Citi, & JPM indices returns.

S&P 500 High – 12/31/2011 -12/31/2021 (no change)

S&P 500 Low – 12/31/2006 -12/31/2016 (no change)

Most Recent 10 Years - From 12/31/2013 -12/31/2023 To 12/31/2014 -12/31/2024

Citi High – From 12/31/2003 - 12/31/2013 To 12/31/2005 – 12/31/2015

Citi Low – From 12/31/2012 - 12/31/2022 To 12/31/2013 – 12/31/2023

Most Recent 10 Years – From 12/31/2013 -12/31/2023 To 12/31/2014 -12/31/2024

JPM High – 12/31/2009 to 12/31/2019 (no change)

JPM Low – From 12/31/2012 - 12/31/2022 To 12/31/2014 – 12/31/2024

Most Recent 10 Years – From 12/31/2013 -12/31/2023 To 12/31/2014 -12/31/2024

December 12, 2024, v7.8.31

Repricing of Protective Advantage Choice UL 12/24 (ACUL)

Summary of Rate Changes:

· ACUL level pay premiums increased 5% and single pay premiums increased 2%, on average weighted by expected sales distribution.

· Rate changes vary by gender and funding pattern and range from -8% to +5.5%. The MMGP and threshold premium increases lead to a 4.5-5.5% premium increase for level pay premiums with guaranteed ages 108 and less. The increased secondary accumulation rates lead to smaller increases and even decreases for short pay and level pay premiums with guaranteed ages 109-121.

· MMGPs, net threshold premiums, and target premiums were increased 4.5% for males and 5.5% for females. Secondary accumulation rates were increased 11%.

· ACUL is approved in all states except: AS, GU, & NY (Puerto Rico is approved).

Repricing of Protective Lifetime Assurance UL 12/24 (LAUL)

Summary of Rate Changes:

· LAUL level premiums were increased 3% on average.

· Rate increases vary by gender. Males were increased 2.5% and females 3.5%.

· MMGPs (both primary and secondary) and target premiums were increased.

· LAUL is approved in all states except: AS, GU, & NY (Puerto Rico is approved).

Business Transition Rules for ACUL & LAUL:

· For paper business: Signed applications must be received on or before December 31, 2024 to retain old rates.

· For ticket business and direct writers: Signed applications must be received on or before January 13, 2025 to retain old rates.

· Any application in Underwriting on December 16, 2024 will retain the rates they were initially quoted.

December 2, 2024, v7.8.30

Protective Income Creator Fixed Annuity

· The GLWB Annual Withdrawal Factors have been updated.

November 11, 2024, v7.8.29

Maintenance Release

October 7, 2024, v7.8.28

Maintenance Release

August 28, 2024, v7.8.27

Maintenance Release

August 26, 2024, v7.8.26

Repricing of Protective Classic Choice Term 8/24

PCCT 8/26/2024 Nationwide (excluding NY)  

· No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.044% (0.019% Sales Weighted, 0.024% quin ages only) decrease to Non-Smoker rates.

· The largest decreases occurred in Term 25 specifically for face amounts below $250K.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smokers untouched for all term periods (level and post level).

Business Transition Rules:

· For paper business: applications must be signed and received on or before September 9, 2024.

· For electronic ticket business and direct writers: applications must be signed and received on or before September 23, 2024.

· Any application in Underwriting on August 26, 2024, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does NOT have a rate change, however the plan codes are changing, so they will follow the above rules.

July 22, 2024, v7.8.24

Updated withdrawal factors for the Income Creator Fixed Annuity

Fidelity VIP Index 500 Portfolio Initial Class Fund Fee has been updated for the SOVUL II product

July 8, 2024, v7.8.24

Introducing Conversion Choice Rider with ExtendCare (CCRE)

· When added to Protective Classic Choice Term, the Conversion Choice Rider with ExtendCare can be a more flexible and lower cost alternative to purchasing permanent coverage now. The rider gives you more time to convert to a broader range of permanent solutions from Protective. Plus, you can access chronic illness protection upon conversion – no additional underwriting or medical exams required.

· Only available with the Classic Choice Term product.

· Compare Report showing benefits and premium is included with the illustration output if CCRE is not selected.

June 3, 2024, v7.8.23

Repricing of Protective Indexed Choice UL 6/24 NY.

Enhanced Company Ratings Page for the Life Products.

May 1, 2024, v7.8.22

Repricing of Protective Classic Choice Term 5/24

PCCT 5/1/2024 Nationwide (excluding NY)  

· No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.023% (0.023% Sales Weighted, 0.024% quin ages only) decrease to Non-Smoker rates. The largest decreases occurred in Term 25 specifically for face amounts less than $250k.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smokers untouched for all term periods (level and post level).

Business Transition Rules:

· For paper business: applications must be signed and received on or before May 15, 2024.

· For ticket business and direct writer: applications must be signed and received on or before May 29, 2024.

· Any application in Underwriting on May 1, 2024, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does NOT have a rate change; however, the plan codes are changing. So, it will follow the same above transition rules.

Strategic Objectives Variable Universal Life II (SOVUL II)

· Introducing Buffered Growth & Income Model Portfolio.

· Some of the Fund Expenses have been updated.

Fixed & Indexed Annuity

· Non-Forfeiture Interest Rate updated from 2.40% to 2.65.

March 4, 2024, v7.8.19 & v7.8.20

Maintenance Release

February 1, 2024, v7.8.18

Repricing of Protective Classic Choice Term 2/24 (including NY)

PCCT 2/1/2024 Nationwide (excluding NY)  

· No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.018% (0.007% Sales Weighted, 0.007% quin ages only) decrease to Non-Smoker rates. The largest decreases occurred in Term 20 for face amounts between $250k-499.9k, Term 30 for face amounts less than $250k, and Term 35 for face amounts less than $250k.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smokers untouched for all term periods (level and post level).

PCCT NY 2/1/2024  

· No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.139% (0.100% Sales Weighted, 0.082% quin ages only) decrease to Non-Smoker rates. The largest decreases occurred in Term 25 for face amounts greater than $500k and Term 35 for face amounts greater than $500k.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smokers untouched for all term periods (level and post level).

Business Transition Rules:

· For paper business: applications must be signed and received on or before February 15, 2024.

· For ticket business and direct writer: applications must be signed and received on or before February 29, 2024.

· Any application in Underwriting on February 1, 2024, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does have a rate change and the plan codes are changing. So, it will follow the same above transition rules.

Protective Indexed Choice UL – Interest Rate Update

The following interest rates have been updated for the Indexed Choice UL 9/23 and NY products for the policies starting with effective date of 3/15/2024:

· AG 49-A Maximum Illustrated Rate increased from 5.77% to 5.79%

· Minimum Indexed Interest Rate for supplemental exhibit remain unchanged at 3.61%

· Maximum Indexed Interest Rate for supplemental exhibit remain unchanged at 7.21%

· Non-guaranteed loan interest rate increased from 5.27% to 5.29%

· Crediting rate on the Fixed Account exhibit increased from 3.25% to 3.50%

· The Cap Rate remain unchanged at 9.0%

· Indexed Interest Rate Date Range of “12/31/1957 to 12/31/2022” has been updated to “12/31/1958 to 12/31/2023”.

UL Credited Interest Rate Update

· Lifetime Assurance UL product Crediting Interest rates update from 3.50% to 3.75% will be adjusted on in-force policies effective March 15, 2024. The changes will be reflected on new business illustrations beginning February 1, 2024, in-force illustrations beginning February 5, 2024, and annual statements produced on or after March 15, 2024.

Repricing of Protective Strategic Objectives VUL 2/24

Business Transition Rules:

For paper and ticket business:

· Applications signed and received on or before January 31, 2024, will receive the old product version.

· Applications signed and received on or after February 1, 2024, will receive the new product version.

· If the new product version is wanted on an application that is signed January 31, 2024, or prior, an amendment will be required with an owner signature on delivery.

Indexed Annuity

The following was updated in the illustration output based on the S&P 500 returns.

High

S&P 500 - From 12/31/2010 -12/31/2020 To 12/31/2011 -12/31/2021 (no change)

Low

S&P 500 - From 12/31/2001 -12/31/2011 To 12/31/2006 -12/31/2016 (no change)

Most Recent 10 Years

S&P 500 - From 12/31/2011 -12/31/2021 To 12/31/2013 -12/31/2023

December 11, 2023, v7.8.17

ExtendCare Rider (ECR)

· The new max ECR monthly benefit for 2024 is $12,300, down from $12,600 in 2023.

· Illustration systems (ELI and WinFlex) will be updated on 12/11/2024, and the new max ECR benefit of $12,300 will show up for any illustrations run on or after 1/1/2024.

· For policies issued in 2024, the policy can still be issued with the 2023 max benefit as long as the illustration submitted shows the higher amount.

· For claims actually submitted in 2024, the max amount that can be paid out tax free is $12,300.

Classic Choice Term, Custom Choice UL & Lifetime Assurance UL

· The Signature Page option is now available under the Output Options Tab.

November 20, 2023, v7.8.16

Repricing of Protective Classic Choice Term 11/23

· Small decreases. No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.06% (0.013% Sales Weighted, 0.011% quin ages only) decrease to Non-Smoker rates. The largest decreases occurred in Term 20 for face amounts $1M+ and Term 30 for face amounts $250K+.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smoker rates are unchanged.

· Post-level rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business: applications must be signed and received on or before December 4, 2023.

· For ticket business and direct writer: applications must be signed and received on or before December 18, 2023.

· Any application in Underwriting on November 20, 2023, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does not have a rate change, however it will follow the same above transition rules.

Strategic Objectives II VUL 11/22

· Show Cumulative Premiums option is now available under the Output Options Tab.

October 9, 2023, v7.8.15

Maintenance Release

September 18, 2023, v7.8.14

Repricing of Protective Classic Choice Term 9/23

· Small decreases. No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.04% (0.04% Sales Weighted, 0.05% quin ages only) decrease to Non-Smoker rates. The largest decreases occurred in Term 20 (specifically face amounts $250K-499.9K and $1M+) and Term 30 (specifically face amounts $1M+)

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smoker rates are unchanged.

· Post-level rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business: applications must be signed and received on or before October 2, 2023.

· For ticket business and direct writer: applications must be signed and received on or before October 16, 2023.

· Any application in Underwriting on September 18, 2023, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does not have a rate change, however it will follow the same above transition rules.

Repricing of Protective Indexed Choice UL 9/23

Launch of Protective Indexed Choice UL NY 9/23

August 28, 2023, v7.8.12 & v7.8.13

Maintenance Release

August 7, 2023, v7.8.11

Maintenance Release

July 10, 2023, v7.8.10

Repricing of Protective Classic Choice Term 7/23

· Small decreases. No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.02% (0.02% Sales Weighted, 0.02% quin ages only) decrease to Non-Smoker rates. The largest decreases occurred in face amounts below $250k for Term 25, Term 30, Term 35, and Term 40

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smoker rates are unchanged.

· Post-level rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business: applications must be signed and received on or before July 24, 2023.

· For ticket business and direct writer: applications must be signed and received on or before August 7, 2023.

· Any application in Underwriting on July 10, 2023, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does not have a rate change, however it will follow the same above transition rules.

Waiver of Premium is now approved in State of California for the Classic Choice Term and Whole Life products.

Protective Income Builder Indexed Annuity

· Effective 7/10/2023, the GLWB Annual Withdrawal Factors have been updated.

June 5, 2023, v7.8.9

Maintenance Release

May 1, 2023, v7.8.8

Repricing of Protective Classic Choice Term 5/23

· Small decreases. No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.21% (0.30% Sales Weighted, 0.32% quin ages only) decrease to Non-Smoker rates. Larger decreases occurred more often in all face bands for Term 35, as well as $250K+ face bands for Term 20, Term 25, and Term 30.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smoker rates are unchanged.

· Post-level rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business: applications must be signed and received on or before May 15, 2023.

· For ticket business and direct writer: applications must be signed and received on or before May 29, 2023.

· Any application in Underwriting on May 1, 2023, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does not have a rate change, however it will follow the same above transition rules.

Variable Universal Life (VUL) – Strategic Objectives II VUL 11/22

· New Invesco Buffer Funds are now available.

· Some of the Fund Expenses have been updated for the VUL funds.

· For the Strategic Objectives II VUL 11/22 product, the Total Average Annual Expense Charge was increased from 0.49% to 0.52%.

Non-Forfeiture Interest Rate (NFIR) Update

· The NFIR is now 2.40% and has been updated for the Fixed Annuity and Indexed Annuity products.

March 13, 2023, v7.8.5, v7.86, v7.8.7

Repricing of Protective Classic Choice Term 3/23

· Small decreases. No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.04% (0.05% Sales Weighted) decrease to Non-Smoker rates. Larger decreases occurred more often for Terms 20 and 30 particularly in the $1M+ face band.

· Only changes to level period premium per unit rates.

· All 10-40 year post level term rates were untouched.

· Smoker rates are unchanged.

· Post-level rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business: applications must be signed and received on or before March 27, 2023.

· For ticket business and direct writer: applications must be signed and received on or before April 10, 2023.

· Any application in Underwriting on March 13, 2023, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· New York does not have a rate change, however it will follow the same above transition rules.

Repricing of Protective Advantage Choice UL 3/23 (ACUL) & Lifetime Assurance UL 3/23 (LAUL)

· LAUL premiums decreased 4% on average and ACUL 3% on average, weighted by expected sales distribution.

· Rate decreases vary by gender, underwriting class, issue age, and face amount band ranging from 0% to -10%.

· MMGPs, net threshold premiums, and target premiums were decreased.

· No rate increases.

Business Transition Rules:

· For paper business, applications must be signed and received on or before March 27, 2023 to retain old rates.

· For ticket business and direct writer, applications must be signed and received on or before April 10, 2023 to retain old rates.

Any application in Underwriting on March 13, 2023 will retain the rates they are initially quoted.

February 13, 2023, v7.8.4

Protective^® Indexed Choice UL – Interest Rate Update

Effective 2/13/2023, the following interest rates have been updated for the Indexed Choice UL 8/22 product for the policies starting with effective date of 3/15/2023:

· AG 49-A Maximum Illustrated Rate increased from 5.21% to 5.77%

· Minimum Indexed Interest Rate for supplemental exhibit increased from 3.34% to 3.61%

· Maximum Indexed Interest Rate for supplemental exhibit increased from 6.62% to 7.21%

· Non-guaranteed loan interest rate increased from 4.71% to 5.27%

· Crediting rate on the Fixed Account remains unchanged at 3.25%

· Cap Rate increased from 8.0% to 9.0%

· Indexed Interest Rate Date Range of “12/31/1956 to 12/31/2021” has been updated to “12/31/1957 to 12/31/2022”

RMD Age has been updated from 72 to 73

February 1, 2023, v7.8.3

Protective Income Creator Fixed Annuity

· Effective 2/6/2023, the GLWB Annual Withdrawal Factors have been updated.

Indexed Annuity

The following was updated in the illustration output based on the S&P 500 returns.

High

S&P 500 - From 12/31/2010 -12/31/2020 To 12/31/2011 -12/31/2021 (no change)

Low

S&P 500 - From 12/31/2001 -12/31/2011 To 12/31/2006 -12/31/2016 (no change)

Most Recent 10 Years

S&P 500 - From 12/31/2011 -12/31/2021 To 12/31/2012 -12/31/2022

January 17, 2023, v7.8.2

Repricing of Protective Classic Choice Term 1/23 including New York (NY)

Nationwide Rate Update (non-NY):

· Small decreases. No cells experienced rate increases.

· Premium rate changes were lowered for a total overall average impact of 0.05% (0.02% Sales Weighted) decrease to Non-Smoker rates. Larger decreases occurred more often in $250K-$499K face band for Term 20 and 30.

· Only changes to level period premium per unit rates. All 10-40 year post level term rates were untouched.

· Smoker rates are unchanged.

· Post-level rates are unchanged

· Policy fee of $65 has changed from commissionable to non-commissionable.

New York Rate Update:

· Moderate decreases. Approximately 7% of cells experienced rate increases of which 82% were for Term 10.

· Premium rate changes were lowered for a total overall average impact of 0.16% (0.40% Sales Weighted) decrease to Non-Smoker rates. Larger decreases occurred more often in all face bands for Term 20, $500,000+ face bands for Term 30, and $250,001-$499,999 face band for Terms 35 and 40.

· Only changes to level period premium per unit rates for $250,001+ face bands. Level period premium per unit rates for $100,000-$250,000 face band were untouched. All 10-40 year post level term rates were untouched.

· Smoker rates are unchanged.

· Post-level rates are unchanged

· Implementation of ADB and WOP riders in NY using the same rates as Nationwide.

· Policy fee of $65 has changed from commissionable to non-commissionable.

Business Transition Rules:

· For paper business; applications must be signed and received on or before January 31, 2022.

· For ticket business and direct writer; applications must be signed and received on or before February 14, 2022.

· Any application in Underwriting on January 17, 2022, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does have a rate update and will follow the same transition rules.

December 12, 2022, v7.8.1

ExtendCare Rider

Effective 1/1/2023, the Internal Revenue Service (IRS) recently announced upcoming 2023 changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care. Under IRS code § 7702B(d)(4), the 2023 per diem limitation for periodic payments from these types of policies will be increased to $420/day. This increase will allow access up to $12,600 of insureds policy’s death benefit each month through ExtendCare, a chronic illness protection rider.

Protective Income Builder Indexed Annuity

· Effective 12/19/2022, the GLWB Annual Withdrawal Factors have been updated.

November 14, 2022, v7.7.57

Repricing of Protective Classic Choice Term 11/22

· Seven cells experienced rate increases to regain rate consistency for issue ages 25 and younger. All 7 cells were Term 35, $1M+ face band, preferred class, female, and issue ages 18-24.

· Premium Rate changes were lowered for a total overall average impact of 0.22% (0.28% Sales Weighted) decrease to Non-Smoker rates. Larger decreases occurred more often in all face bands for Terms 25-30, $250K+ face bands for Term 20, and $100K-$499K face bands for Term 35.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business; applications must be signed and received on or before November 28, 2022.

· For ticket business and direct writer; applications must be signed and received on or before December 12, 2022.

· Any application in Underwriting on November 14, 2022, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate update; however, the plan codes are changing so they will follow the above rules.

Repricing of Protective Strategic Objectives VUL 11/22

· MMGP rates have been updated.

· Changes to Lapse protection periods:

a. 20 years for issue ages 0-49

b. Guarantee to age 70 for issue ages 50-65

c. 5 years for issue ages 65-80

Business Transition Rules:

For paper and ticket business:

· Applications signed and received on or before November 13, 2022, will receive the old product version.

· Applications signed and received on or after November 14, 2022, will receive the new product version.

· If the new product version is wanted on an application that is signed November 13, 2022, or prior, an amendment will be required with an owner signature on delivery.

Protective Income Builder Indexed Annuity

· The GLWB Annual Withdrawal Factors have been updated.

October 10, 2022 v7.7.56

Maximum Premium Limits for Universal Life (UL)

The first-year premium limits have been increased for the following products:

Protective Advantage Choice UL and Protective Lifetime Assurance UL from $500,000 to $1,000,000

Protective Indexed Choice UL and Protective ProClassic UL from $1,000,000 to $3,000,000

September 12, 2022 v7.7.55

Repricing of Protective^® Classic Choice Term 9/22

· Only Level Term Rates are changing with small decreases. Premium Rate changes were lowered for a total overall average impact of 0.19% (0.27% Sales Weighted) decrease to Non-Smoker rates. Larger decreases occurred more often in $250K+ face bands for Term 20, as well as in $250K-$499K and $1M+ faces bands for Term 35.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business; applications must be signed and received on or before September 26, 2022.

· For ticket business and direct writer; applications must be signed and received on or before October 10, 2022.

· Any application in Underwriting on September 12, 2022, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate update, however the plan codes are changing so they will follow the above rules.

August 15, 2022 v7.7.54

Repricing of Protective^® Classic Choice Term 8/22

· Only Level Term Rates are changing with small decreases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business; applications must be signed and received on or before August 29, 2022.

· For ticket business and direct writer; applications must be signed and received on or before September 12, 2022.

· Any application in Underwriting on August 15, 2022, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate update, however the plan codes are changing so they will follow the above rules.

Repricing of Protective® Indexed Choice UL 8/22

· Approved in all states except NY.

· Increased guaranteed premium expense charge.

· Repriced ExtendCare Rider.

Business Transition Rules:

· For paper business: applications must be signed and received on or before August 29, 2022.

· For ticket business and direct writer: applications must be signed and received on or before September 12, 2022.

· Any application in Underwriting on August 15,2022, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

July 11, 2022 v7.7.50

Repricing of Protective^® Classic Choice Term 7/22

· Only Level Term Rates are changing with small decreases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business; applications must be signed and received on or before July 25, 2022.

· For ticket business and direct writer; applications must be signed and received on or before August 8, 2022.

· Any application in Underwriting on July 11, 2022 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change, however the plan codes are changing so they will follow the above rules

Protective Income Builder Indexed Annuity

· The GLWB Annual Withdrawal Factors have been updated.

.

June 6, 2022 v7.7.49

Repricing of Protective^® Classic Choice Term 6/22

· Only Level Term Rates are changing with small decreases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business; applications must be signed and received on or before June 20, 2022.

· For ticket business and direct writer; applications must be signed and received on or before July 4, 2022.

· Any application in Underwriting on June 6, 2022 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change, however the plan codes are changing so they will follow the above rules.

May 23, 2022 v7.7.48

Protective Income Builder Indexed Annuity

· The GLWB Annual Withdrawal Factors have been updated.

May 2, 2022 v7.7.47

Repricing of Protective^® Classic Choice Term 5/22

· Only Level Term Rates are changing with small decreases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business; applications must be signed and received on or before May 16, 2022.

· For ticket business and direct writer; applications must be signed and received on or before May 30, 2022.

· Any application in Underwriting on May 2, 2022 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change, however the plan codes are changing so they will follow the above rules.

Variable Universal Life (VUL) Product

· Some of the Fund Expenses have been updated.

· The Total Average Annual Expense Charge was reduced from 0.51% to 0.49%.

March 7, 2022 v7.7.45 & v7.7.46

Repricing of Protective^® Classic Choice Term 3/22

· Only Level Term Rates are changing with small decreases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates have some increases and decreases.

Business Transition Rules:

· For paper business; applications must be signed and received on or before March 21, 2022.

· For ticket business and direct writer; applications must be signed and received on or before April 4, 2022. After April 4,2022 you may no longer have the old rates. We will only allow the new rates.

· Any application in Underwriting on March 7, 2022 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does Not have a rate change, however the plan codes are changing so they will follow the above rules.

IRR Report is now available for the Classic Choice Term product.

Protective® Indexed Choice UL 7/21 – Interest Rate Update

Effective 3/1/2022, the following interest rates have been updated for the Indexed Choice UL 7/21 product:

· The AG49 Maximum Illustrated Rate increased from 5.17% to 5.21%.

· The minimum indexed interest rate for supplemental illustrations remains at 3.34%.

· The maximum indexed interest rate for supplemental illustrations increased from 6.54% to 6.62%.

· Non-guaranteed loan interest rate was updated from 4.67% to 4.71%.

· Crediting rate on the Fixed Account remains at 3.25%.

· Indexed Interest Rate Date Range of “12/31/1955 to 12/31/2020” has been updated to “12/31/1956 to 12/31/2021”.

February 1, 2022 v7.7.43

Indexed Annuity

The following was updated in the illustration output based on the SP500 returns.

High

S&P - From 12/31/2010 -12/31/2020 To 12/31/2011 -12/31/2021

Low

S&P - From 12/31/2001 -12/31/2011 To 12/31/2006 -12/31/2016

Life and Immediate Annuity (SPIA) Products

State of Montana now allows gender distinct rates. Illustration system has been updated to use gender distinct Male and Female rates for base policy and any riders. This means females applying for life policies in Montana should see noticeably more competitive rates.

Business Transition Rules (for Life Products):

• If male after December 31, 2021, there will be no changes in the customer or agent process and will be continued to offer male/unisex rates.
• If female between January 1, 2022 (date the law was effective) and January 31, 2022, the system and policy will still display the male/unisex rate. The policy can be amended to reflect female rates and re-issue after February 1, 2022.
• If female after February 1, 2022, the system and policy will reflect the sex distinct rates.

January 10, 2022 v7.7.42

Repricing of Protective^® Classic Choice Term 1/22

· Only Level Term Rates are changing with decreases and small increases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates have some increases and decreases.

· Rates were updated from 4 to 5 decimals.

Business Transition Rules:

· For Ticket business, applications must be signed and received on or before January 24, 2022.

· For Paper business and direct writer, applications must be signed and received on or before February 7, 2022.

· Any application in Underwriting on January 10, 2022 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does have a rate change, and the plan codes are changing so they will follow the above rules.

December 20, 2021 v7.7.41

Non-Par Whole Life 2021 NY:

The repriced product replaces the 2017 CSO NPWL NY product launched in 2019, as a reprice updating the non-forfeiture elements for the 7702 changes.

December 13, 2021 v7.7.41

Non-Par Whole Life 2021:

The repriced product replaces the 2017 CSO NPWL product launched in 2019, as a reprice updating the non-forfeiture elements for the 7702 changes. Currently not available in NY.

State Approval for California:

State of California (CA) has now approved the Advantage Choice UL 9-21, Lifetime Assurance UL 9-21, ProClassic II UL 9-21, & Custom Choice UL 9-21 products. The previous products that were only available in CA have now been removed from the product list.

Our Brand Update:

We continue to update our Life and Annuity Illustration output with branding related changes.

October 20, 2021 v7.7.40

Our Brand Update:

We continue to update our Life and Annuity Illustration output with branding related changes.

October 4, 2021 v7.7.38 & v7.7.39

Repricing of Protective^® Classic Choice Term 10/21

· Only Level Term Rates are changing with small decreases. Only 2 cells have increases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For Ticket business, applications must be signed and received on or before October 18, 2021.

· For Paper business and direct writer, applications must be signed and received on or before November 1, 2021.

· Any application in Underwriting on October 4, 2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change, but the plan codes are changing so they will follow the above rules.

Our Brand Update:

We continue to update our Life and Annuity Illustration output with branding related changes.

September 8, 2021 v7.7.37

Protective Life 7702/7702A product updates

We are dedicated to simplifying everything, building trust and providing quality service to you and your clients. With that being said, we want to ensure that you are informed and remain compliant with the regulatory updates within our industry.

Like many carriers, we are updating our product portfolio in 2021 for the 7702 and 7702A (Tax Law) changes that were included in the Consolidated Appropriations Act, 2021 (CAA 2021). As one of our valuable partners, you are receiving this information now to help you plan for a smooth transition for you and your clients.

Portfolio Changes:

We are introducing a variety of changes, driven by the 7702/7702A changes effective September 8, 2021. This primarily impacts cash value accumulation test (CVAT) death benefit factors, guideline premiums and Modified Endowment Contract (MEC) (7 Pay) premiums.

Below, you will find a summary of the impacted products and the associated changes.

Product Names	Minimum Guaranteed Interest Rate Change?	Pricing Change?
ProClassic II^SM UL 9/21	Yes, to 2.0%	No
ProClassic^SM UL NY 9/21	Yes, to 2.0%	No
ProClassic Legacy^SM UL 12/19	No	No
Protective Advantage Choice^SM UL 9/21	Yes, to 2.0%	Yes
Protective Lifetime Assurance^SM UL 9/21	Yes, to 2.0%	No
Protective Custom Choice^SM UL 9/21	Yes, to 2.0%	No
Protective Indexed Choice^SM UL 7/21	No	No
Protective® Strategic Objectives II VUL 9/21	No	Yes
Survivor UL 9/20	No	No
Protective® Executive UL (available via Sales Desk only)	No	No

Please note that State of California has not approved the 9-21 products. The previous products will be available in CA only.

All States CA Only
Products	Products
Advantage Choice UL 9/21	Advantage Choice UL 10/20
ProClassic II UL 9/21	ProClassic II UL 12/19
Lifetime Assurance UL 9/21	Lifetime Assurance UL 3/21
Custom Choice UL 9/21	Custom Choice UL 12/19

Defined Objectives for Protective Strategic Objectives II VUL

Effective September 8, 2021, the Defined Objectives program for Protective Strategic Objectives II VUL will no longer be available for new policies. Any current customers utilizing the Defined Objectives program will be supported going forward.

Transition Rules:

Clients will receive current (prior to September 8, 2021) product versions, if they:

1. Submit a signed application (includes completing the TeleLife^® interview or signing a paper application) and illustration, if necessary.

2. Ensure the policy has an effective date of September 7, 2021, or earlier.

3. Any policy issued with an Effective Date of September 8 or later will receive the “new” product version.

Illustrations:

As of September 8, 2021, these products will no longer be available for new illustrations except through the Protective Life Sales Desk. However, the Protective Indexed Choice UL 7/21 product was updated on September 16, 2021, so that any illustrations run after that date will reflect the 7702/7702A changes. For further information contact the Protective Life Sales Desk.

Special Considerations:

If a policy is already in the underwriting process, and the customer would like to retain the prior to September 8 product, underwriting may continue past September 8, 2021 if the policy is issued with a policy effective date of September 7, 2021 or earlier.

Standard backdating rules will apply if an Effective Date of 9/7 or earlier is requested, including premiums being due from the Effective Date to the current date (of issue).

Frequently Asked Questions

Q: Can we allow policies to be backdated to allow the sale of the old product?

A: Yes, we can back-date to allow the sale of the product up to 6 months.

Q: Will Protective make an exception to allow issuance of the old product, with a current date on applications received after September 8, if Cash with App?

A: No, we will not make any exceptions.

Q: Will Protective allow the old product to be retained, if the application was received prior to September 8, but closed as (postponed/incomplete, etc.) during Underwriting?

A: Backdating rules will apply to retain the old product. Backdated modal premium(s) will be due at time of placement. If the backdating period has expired (more than 6 months if applicable in the application state) you must apply for available product upon reopening of file.

Q: If funds are returned/refunded during the Underwriting process, will Protective allow the client to retain the old product?

A: Backdating rules will apply to retain the old product. Backdated modal premium(s) will be due at time of placement. If the backdating period has expired (more than 6 months if applicable in the application state) you must apply for available product upon reopening of file.

Q: Must the file be placed inforce within a specific period to qualify for the old product? If waiting on 1035 funds?

A: If 1035 funds are received after September 8, 2021, Protective will allow the old product as long as the effective date adheres to the backdating rules. If a modal premium is illustrated, all backdated modal premium(s) will be due at time of placement. If the backdating period has expired (more than six months if applicable in the application state) you must apply for a available product upon reopening of the file.

Q: At a high level, what are the impacts of the Tax law changes?

A: The changes are being made to the statutory interest rates in the tax code. By lowering these rates for 2021 and 2022, the Guideline and MEC premiums should generally allow higher contributions for the same face amount. Also, the CVAT death benefit factors should be reduced so that corridor percentages are lower, resulting in generally smaller death benefit increases when a CVAT contract enters corridor.

Q: If I want a product prior to September 7, how would I get an illustration of that product after September 7, 2021?

A: Contact the Home Office Sales Desk, they will be the only source for those illustrations.

Q: What are the pricing changes for Protective Strategic Objectives II VUL 9/21 and Protective Advantage Choice UL 9/21?

A: Broadly, the Protective Advantage Choice UL 9/21 product is being repriced due to the continued low interest rate environment. Protective Strategic Objectives II VUL 9/21 is increasing the max loan limit to 99% and increasing the M&E slightly after year 10. The larger impact on Protective Strategic Objectives II VUL 9/21 is likely going to be the expanding funding associated with the 7702/7702A changes. Read our recent Protective Strategic Objectives II VUL and Protective Advantage Choice UL bulletins to learn more.

Q: Is Defined Objectives being maintained for the existing policies utilizing this program?

A: Yes. Although we are ending this program for new policies, due to low usage, any customers currently utilizing Defined Objectives will be supported going forward.

Our Brand Update:

We are thrilled to introduce our new brand identity and our New Logo.

Our new brand paves the way for stronger brand awareness in the industry and recognition of who we are - protectors.

Life and Annuity Illustration output has been updated with our new logo and branding changes.

August 16, 2021 v7.7.36

Repricing of Protective^® Classic Choice Term 8/21

· Only Level Term Rates are changing with some increases and decreases.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For Ticket business, applications must be signed and received on or before September 13, 2021.

· For Paper business and direct writer, applications must be signed and received on or before August 30, 2021.

· Any application in Underwriting on August 16, 2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change, but the plan codes are changing so they will follow the above rules.

Annuity Changes:

1. Asset Builder II Indexed Annuity only, reduce additional premium minimum from $1,000 to $50.

2. ProPayor Income Annuity (SPIA) – change Premium Tax for non-Qualified only in Colorado from 0% to 2%.

3. Updated the S&P and Citi Disclosures for Fixed Indexed Annuity & Structured Annuity (per Compliance request).

July 12, 2021 v7.7.35

Repricing of Protective^® Indexed Choice UL 7/21

· Rates have been updated.

a. The Surrender Charge schedule is increased from 14 years to 19 years.

· Guideline Premium Test option is now available.

· Increasing Death Benefit Option B is now available.

· The maximum lapse protection duration allowed is to Age 90.

· ExtendCare Rider has also been repriced.

· No change to interest rates

Business Transition Rules:

1. For paper business, applications must be signed and received on or before August 16, 2021.

2. For ticket business and direct writer, applications must be signed and received on or before August 30, 2021.

3. Any application in Underwriting on July 12, 2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

June 7, 2021 v7.7.33

Repricing of Protective® Classic Choice Term 6/21

· Level Term Rates have been decreased for a total overall average impact of 0.09% (0.13% Sales Weighted) decrease.

· Post-level rates are unchanged.

· Smoker rates are unchanged.

· NY rates are unchanged.

Business Transition Rules:

· For paper business; applications must be signed and received on or before June 21, 2021.

· For ticket business and direct writer; applications must be signed and received on or before July 5, 2021.

· Any application in Underwriting on June 7,2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change, but the plan codes are changing so they will follow the above rules.

Guaranteed Income Indexed Annuity

· The GLWB Annual Withdrawal Factors have been updated.

May 1, 2021 v7.7.32

Variable Universal Life (VUL)

1. For some of the VUL funds, the fund expenses have been updated.

a. For the Default Allocation, the average annual expense charge is now reduced from 0.53% to 0.51%.

March 1, 2021 v7.7.28

Repricing of Protective® Classic Choice Term 3/21 New York

· Level Term Rates have been updated for NY.

· Renewal Rates have been updated for NY.

· Now available with Face Amounts of $250,001 and above in NY.

· Added 25, 35, and 40 year Term periods for NY.

· Updated monthly modal factor from .0855 to .0850 for NY

· Policy Fee has changed from $55 to $65 for NY.

· Product maturity age for NY remains at age 90.

· Product CUSIP for NY has been updated from 74367H260 to 74367H419.

· Expanded issue ages for NY – See table below with changes in RED.

	New York (Updated Max Issue Ages)
Issue Ages		10-Year	15-Year	20-Year	25-Year	30-Year	35-Year	40-Year
Select Preferred		18 – 69	18 - 69	18 – 67	18 – 57	18 – 56	18 – 50	18 – 45
Preferred Non-Tobacco		18 – 69	18 - 69	18 – 67	18 – 57	18 – 56	18 – 50	18 – 45
Non-Tobacco		18 – 69	18 - 69	18 - 67	18 - 57	18 – 56	18 – 50	18 – 45
Tobacco		18 – 69	18 - 68	18 - 62	18 - 52	18 - 43	18 – 40	18 – 40

Business Transition Rules:

· For paper business; applications must be signed and received on or before March 15, 2021.

· For ticket business and direct writer; applications must be signed and received on or before March 29, 2021.

· Any application in Underwriting on March 15,2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· Non NY does not have a rate change, but the plan codes are changing so they will follow the above rules.

Repricing of Protective® Lifetime Assurance UL 3/21

· Increased Rates.

o Rate increases vary by issue age, gender, class, face amount, and guaranteed age and generally range from 0%-10%.

o Overall average increase of 5%, weighted by expected sales distribution.

· MMGPs and target premiums were increased.

· A premium band break at 500K was added as a part of this reprice.

Business Transition Rules:

· For paper business; applications must be signed and received on or before March 15, 2021.

· For ticket business and direct writer; applications must be signed and received on or before March 29, 2021

· Any application in Underwriting on March 15,2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

Protective® Indexed Choice UL 12/19 – Interest Rate Update

Effective 3/1/2021, the following interest rates have been updated for the Indexed Choice UL 12-19 product:

1. The AG49 Maximum Illustrated Rate increased from 5.14% to 5.17%.

2. The minimum indexed interest rate for supplemental illustrations remains at 3.34%.

3. The maximum indexed interest rate for supplemental illustrations increased from 6.51% to 6.54%.

4. Non-guaranteed loan interest rate remains at 4.64%.

5. Crediting rate on the Fixed Account remains at 3.25%.

6. Indexed Interest Rate Date Range of “12/31/1954 to 12/31/2019” has been updated to “12/31/1955 to 12/31/2020”.

February 1, 2021

Indexed Annuity

The following was updated in the illustration output based on the SP500 returns.

High

S&P - From 12/31/2009 -12/31/2019 To 12/31/2010 -12/31/2020

Citi - From 12/31/2001 -12/31/2011 To 12/31/2001 -12/31/2011 (no change)

JPM - From 12/31/2009 -12/31/2019 To 12/31/2009 -12/31/2019 (no change)

Low

S&P - From 12/31/2000 -12/31/2010 To 12/31/2001 -12/31/2011

Citi - From 12/31/2009 -12/31/2019 To 12/31/2010 -12/31/2020

JPM - From 12/31/2005 -12/31/2015 To 12/31/2005 -12/31/2015 (no change)

January 11, 2021

Repricing of Protective® Classic Choice Term 1-21

· Premium Rate changes with both increases and decreases for a total overall average impact of a 0.07% increase (0.33% Sales Weighted decrease).

· Expanded issue age ranges for Non-tobacco underwriting classes for 10, 15, 20, 25, 30-year term.

· Policy Fee increased from $55 to $65 (No changes to NY).

· Post-Level premiums have been updated and maturity increased from age 90 to 95.

· No changes to the New York Rates.

· No changes to Tobacco rates.

· Protective Classic Choice Term product is available in all states.

o The 25, 35, & 40 year term periods are not available in NY.

Full UWI All States except NY
Issue Ages	10-Year	15-Year	20-Year	25-Year	30-Year	35-Year	40-Year
Select Preferred	18 – 80	18 – 75	18 – 70	18 – 60	18 – 58	18 – 50	18 – 45
Preferred Non-Tobacco	18 – 80	18 – 75	18 – 70	18 – 60	18 – 58	18 – 50	18 – 45
Non-Tobacco	18 – 80	18 – 75	18 – 70	18 – 60	18 – 58	18 – 50	18 – 45
Tobacco	18 – 75	18 – 68	18 – 62	18 – 52	18 – 43	18 – 40	18 – 40

New York (NO CHANGES)
Issue Ages	10-Year	15-Year	20-Year	30-Year
Select Preferred	18 – 69	18 - 69	18 - 65	18 – 53
Preferred Non-Tobacco	18 – 69	18 - 69	18 - 65	18 – 53
Non-Tobacco	18 – 69	18 - 69	18 - 65	18 – 53
Tobacco	18 – 69	18 - 69	18 - 62	18 - 43

Business Transition Rules:

1. For paper business; applications must be signed and received on or before January 25, 2021.

2. For ticket business and direct writer; applications must be signed and received on or before February 8, 2021.

3. Any application in Underwriting on January 11, 2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

ExtendCare Rider:

The Internal Revenue Service (IRS) recently announced upcoming 2021 changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care. Under IRS code § 7702B(d)(4), the 2021 per diem limitation for periodic payments from these types of policies will increase to $400/day. This increase will allow access up to $12,000 of insureds policy’s death benefit each month through ExtendCare, a chronic illness protection rider.

Income Builder & Guaranteed Income Indexed Annuity

The GLWB Annual Withdrawal Factors have been updated.

January 11, 2021 v7.00.248

WinFlex Desktop will be no longer supported and updated after January 11, 2021. The current Desktop users are requested to start using www.winflexweb.com which provides similar illustrations capabilities as Desktop and many more enhancements.

To register for WinFlex Web go to: https://www.winflexweb.com/wfw_register.aspx

Importing Cases into WinFlex Web from Your Desktop:

1. On your dashboard, under Shortcuts, click Illustrations.

2. Click Manage Cases.

a. NOTE: You will not see any saved cases until you upload some cases from your desktop or create and save cases using WinFlex Web.

3. Click the Tools menu and select Import Case File to open the Import Case dialog box.

4. Click Browse to locate the file on your computer.
5. Select the case file and click Open.
6. Click Import.

Case file requirements:

1. Must be a valid WinFlex case file (.wfc)
2. Must contain 100 clients or less.
3. Only 1 case can be uploaded at a time.

NOTE: If you upload a case with the same name as one of your existing WinFlex Web cases, the characters _wf# will be appended to the end of the case name. For example: Sample Case_wf1, Sample Case_wf2.

This final WinFlex Desktop update includes….

Repricing of Protective® Classic Choice Term 1-21

· Premium Rate changes with both increases and decreases for a total overall average impact of a 0.07% increase (0.33% Sales Weighted decrease).

· Expanded issue age ranges for Non-tobacco underwriting classes for 10, 15, 20, 25, 30-year term.

· Policy Fee increased from $55 to $65.

· Post-Level premiums have been updated and maturity increased from age 90 to 95.

· No changes to the New York Rates.

· No changes to Tobacco rates.

· Protective Classic Choice Term product is available in all states.

o The 25, 35, & 40 year term periods are not available in NY.

Full UWI All States except NY
Issue Ages	10-Year	15-Year	20-Year	25-Year	30-Year	35-Year	40-Year
Select Preferred	18 – 80	18 – 75	18 – 70	18 – 60	18 – 58	18 – 50	18 – 45
Preferred Non-Tobacco	18 – 80	18 – 75	18 – 70	18 – 60	18 – 58	18 – 50	18 – 45
Non-Tobacco	18 – 80	18 – 75	18 – 70	18 – 60	18 – 58	18 – 50	18 – 45
Tobacco	18 – 75	18 – 68	18 – 62	18 – 52	18 – 43	18 – 40	18 – 40

New York (NO CHANGES)
Issue Ages	10-Year	15-Year	20-Year	30-Year
Select Preferred	18 – 69	18 - 69	18 - 65	18 – 53
Preferred Non-Tobacco	18 – 69	18 - 69	18 - 65	18 – 53
Non-Tobacco	18 – 69	18 - 69	18 - 65	18 – 53
Tobacco	18 – 69	18 - 69	18 - 62	18 - 43

Business Transition Rules:

4. For paper business; applications must be signed and received on or before January 25 , 2021.

5. For ticket business and direct writer; applications must be signed and received on or before February 8, 2021.

6. Any application in Underwriting on January 11, 2021 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

ExtendCare Rider:

The Internal Revenue Service (IRS) recently announced upcoming 2021 changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care. Under IRS code § 7702B(d)(4), the 2021 per diem limitation for periodic payments from these types of policies will increase to $400/day. This increase will allow access up to $12,000 of insureds policy’s death benefit each month through ExtendCare, a chronic illness protection rider.

Income Builder & Guaranteed Income Indexed Annuity

The GLWB Annual Withdrawal Factors have been updated.

November 9, 2020 v7.00.245

Protective Asset Builder II Indexed Annuity Launch

Protective Asset Builder II product is now available with the following features:

· Three surrender charge plans (5 & 7 year for Bank/BD and 10 year for BGA),

· New 1-year index crediting period -JPM Mojave^SM

· New strategies are available:

o S&P Point-to-Point Rate Cap Term

o S&P Point-to-Point Par Rate

o JPM Mojave Point-to-Point Participation Rate

· Return of Purchase Payments Death Benefit available on the 5 & 7 year plans.

Protective Asset Builder II product is available in all states except CA & NY.

October 19, 2020 v7.00.244

Repricing of Protective® Advantage Choice UL

· Protective Advantage Choice UL 10/20 product is available in all states except NY.

Business Transition Rules:

1. For paper business, applications must be signed and received on or before November 2, 2020.

2. For ticket business and direct writers, applications must be signed and received on or before November 16, 2020

3. Any application in Underwriting on October 19, 2020 may choose the version of the product (old or new) but will retain the rates they are initially quoted.

Protective® Indexed Choice UL 12/19

Effective 10/19/2020, the following interest rates have been updated for the Indexed Choice UL 12-19 product:

7. Cap Rate decreased from 8.50% to 8.00%.

8. The AG49 Maximum Illustrated Rate decreased from 5.41% is to 5.14%.

9. The minimum indexed interest rate for supplemental illustrations decreased from 3.48% to 3.34%.

10. The maximum indexed interest rate for supplemental illustrations decreased from 6.83% to 6.51%.

11. Non-guaranteed loan interest rate increased from 4.41% to 4.64%.

12. Crediting rate on the Fixed Account decreased from 3.50% to 3.25%.

Protective® Strategic Objectives II VUL

1. An optional 3-way compare report showing illustrated rate, 5%, and 3.5% is now available under the Assumptions Tab. This supplemental report enhances the illustration by providing a simple way to compare values using 3 separate interest rates.

2. Effective 10/19/2020, the Policy Value Credit percentage is .021% (0.252% annualized) of the un-loaned policy value and will begin in the 7^th year (following the 6^th Policy Anniversary).  It goes to zero at age 100+.  This change is made retroactively so that all current and future policies receive the same new Policy Value Credit.

September 21, 2020 v7.00.242 & v7.00.243

Repricing of Protective® Classic Choice Term 9-20

· Rate changes with both increases and decreases for a total overall average impact of 0.05% (0.11% Sales Weighted) decrease. Overall average decrease to Terms periods 35/40 was 0.69%.

· No changes to Tobacco rates.

· No changes to the New York rates.

· No changes to Post-Level premiums.

· Protective Classic Choice Term (PCCT) product is available in all states.

o The 25, 35, & 40 year term periods are not available in NY.

Business Transition Rules:

· For paper business; applications must be signed and received on or before October 5, 2020.

· For ticket business and direct writer; applications must be signed and received on or before October 19, 2020.

· Any application in Underwriting on September 21, 2020, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change, but the plan codes are changing so they will follow the above rules.

September 2, 2020 v7.00.241

Protective ProClassic II NY UL

· Target Rates have been updated.

State Approvals:

· Effective 8/17/2020, the Waiver of Specified Premium rider has been approved in state of California for the following products:

o Advantage Choice UL

o Custom Choice UL

o Indexed Choice UL

o ProClassic II UL

o Lifetime Assurance UL

o Strategic Objectives II VUL

Protective Strategic Objectives II UL

· The issue with Waiver of Specified Premium rider not being illustrated is now fixed.

July 20, 2020 v7.00.238, v7.00.239, & v7.00.240

Repricing of Protective® Classic Choice Term

· Rate changes with both increases and decreases for a total overall average impact of 0.26% (0.13% Sales Weighted) decrease.

· No changes to the New York rates.

· No changes to Post-Level premiums.

· Protective Classic Choice Term (PCCT) is available in all states. The 25, 35, & 40 year term periods are not available in NY.

Business Transition Rules:

· For paper business; applications must be signed and received on or before August 3, 2020.

· For ticket business and direct writer; applications must be signed and received on or before August 18, 2020.

· Any application in Underwriting on July 20, 2020, may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved.

· NY does not have a rate change but the plan codes are changing so they will follow the above rules.

ProClassic II NY UL – Rider Approvals

The following riders are now approved: Accidental Death Benefit, Child Term Rider, & Waiver of Specified Premium Rider.

June 24, 2020 v7.00.237

Lifetime Assurance UL

· IRR on Death Benefit Report is now available in the Output Options tab.

Other Maintenance Update

· FutureSaver II Fixed Annuity product is no longer available.

· Classic Choice Term 4-20 products are no longer available. Please continue to use the recently updated Classic Choice Term 5-20 products.

May 18, 2020 v7.00.236

Repricing of Protective® Classic Choice Term & Expanded Ages

· Issue ages are expanded by two ages for 15, 20, 25, & 30 year terms.

· Rate changes with both increases and decreases for a total overall average impact of 0.62% (0.47% Sales Weighted) decrease. No changes to the New York rates.

· Protective Classic Choice Term (PCCT) is available in all states. The 25, 35, & 40 year term periods are not available in NY.

Business Transition Rules:

1. For paper business; applications must be signed and received on or before June 1, 2020.

2. For ticket business and direct writer; applications must be signed and received on or before June 15, 2020 

3. Any application in underwriting on May 18, 2020 may choose the version of the product (old or new) but will retain the rates they are initially quoted unless otherwise requested up until the case has been approved. 

Illustration, Quoting Systems (ELI & WinFlex)

1. The new rates (PCCT 5/20) are available in the illustration systems starting May 18, 2020.

2. The old rates (PCCT 4/20) will remain available for full basic illustrations until June 1,2020.

3. The old rates (PCCT 4/20) will remain available only for numeric summary (draft) and revised illustrations until June 15, 2020.

4. The old PCCT 4/20 product will be removed from the illustration systems on June 16, 2020.

May 1, 2020 v7.00.235

Variable Universal Life (VUL)

For some of the VUL funds, the fund expenses have been updated.

April 20, 2020 v7.00.233 & v7.00.234

At Protective Life, we're committed to remaining competitive in the UL and Term marketplace and providing innovative solutions that meet the needs of your clients.

New Product Launch - Protective® Lifetime Assurance UL

Protective Lifetime Assurance UL is a level-pay, guaranteed universal life (GUL) policy with a stable, predictable premium payment schedule. In addition, this GUL solution provides clients with the opportunity to initially customize their guarantee length (as long as the end date is between age 90 and 121), ensuring that clients are protected for their desired years of coverage.

Protective Lifetime Assurance UL provides the following optional benefits*: Accidental Death Benefit Rider, Children’s Term Rider, ExtendCare Rider, Income Provider Option Endorsement, Waiver of Specified Premium Rider, Terminal Illness Accelerated Death Benefit Endorsement, and Return of Premium Endorsement.

Protective Lifetime Assurance UL is available in all states except NY.

*optional benefits may not be available in all states.

New Longer-Term Periods for Protective® Classic Choice Term

Protective Classic Choice Term is now offering 35 and 40 year terms periods, making Protective one of only three national carriers to offer more than 30 years of level term life insurance coverage.

Protective Classic Choice Term is available in all states. The 25, 35, & 40 year term periods are not available in NY.

ProClassic II NY UL 12/19

Protective ProClassic II NY UL 12/19 product is now available in NY.

March 30, 2020 v7.00.229 & v7.00.230

New Premium Limits for Certain Life Insurance Products

Protective Life is committed to serving our customers and providing valuable products. Due to the current interest rate environment, and particularly the decrease in yields over the past few weeks we find it necessary to implement new premium limits for certain products. 

Effective March 25, 2020, in all states including New York, the following annual premium limits has been implemented:

Product	New Annual Premium Limit
Protective Advantage Choice^SM UL	$500,000
Protective Indexed Choice^SM UL	$1,000,000
Protective Custom Choice^SM UL	$1,000,000
ProClassic II^SM UL	$1,000,000

For Protective^® Strategic Objectives II VUL, the annual premium limit will remain at $5,000,000.

March 9, 2020 v7.00.229

Maintenance Release

February 3, 2020 v7.00.228

UNIVERSAL LIFE (UL):

The following interest rates have been updated for the Indexed Choice UL 12-19 product:

13. The Maximum illustrated rate for AG 49 purposes is 5.41%.

14. The Maximum Indexed Interest Rate for any historical 25 year period is 6.83%.

15. Non-guaranteed loan interest rate increased from 4.37% to 4.41%.

INDEXED ANNUITIES:

The following was updated based on the SP500 returns:

Low Scenario - 12/31/2000 to 12/31/2010

High Scenario - 12/31/2009 to 12/31/2019

Most Recent - 12/31/2009 to 12/31/2019

January 13, 2020 v7.00.227

New Lower Rates for Protective® Classic Choice Term

At Protective Life, we're committed to remaining competitive in the term marketplace and providing innovative solutions that meet the needs of your clients. That's why we're repricing Protective Classic Choice Term, so you can offer this same great protection at a more affordable price. The new rates are effective January 13, 2020.

No matter which way you quote Protective Classic Choice Term – in monthly or annual pay scenarios, Protective Life lands on top with our market-leading rates.

Top three — or better — 80% of the time in annual pay scenarios*

Top three — or better — 91% of the time in monthly pay scenarios*

Plus, when you use Protective Velocity — our suite of digital capabilities — you can help make it easier and faster for your clients to receive their coverage. Our technology can help you streamline your business and go from application submission to sales commission nearly 20 days faster.

Transition Rules:

• For ticket business and direct writers (not including NY): applications must be signed and received on or before Monday, February 10, 2020 to receive current rates.
• For paper business: applications must be signed and received on or before Monday, January 27, 2020 to receive current rates.
• Any application in underwriting on January 13, 2020 may choose between the old and the new version of the product.

* Rankings current as of December 2019. Based on comparison of Protective Classic Choice Term monthly and annual premiums against 23 carriers, at quinquennial ages for three Non-Tobacco underwriting classes at durations of 10, 15, 20, 25 and 30 years.

EXTENDCARE RIDER:

The Internal Revenue Service (IRS) recently announced upcoming 2020 changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care. Under IRS code § 7702B(d)(4), the 2020 per diem limitation for periodic payments from these types of policies will increase to $380/day. This increase will allow access up to $11,400 of insureds policy’s death benefit each month through ExtendCare, a chronic illness protection rider.

December 2, 2019 v7.00.223

Key Changes to Protective’s Product Portfolio

We'll be replacing and removing several products within our portfolio before the end of 2019 to reflect the 2017 Commissioner’s Standard Ordinary (CSO) Table and Principle-Based Reserving (PBR) requirements. This information will help you plan for a smooth transition for you and your clients before January 1, 2020.

Products Being Updated

Below you’ll find a summary of our current products and their equivalent replacements. You’ll also find details on when replacement products available for sale.

Current Product	Replacement Product (2017 CSO/PBR compliant)	Date Replacement Product Available for Sale
Protective Strategic Objectives VUL	Protective Strategic Objectives VUL 11/19	November 18, 2019
Protective Advantage Choice UL 1/19	Protective Advantage Choice UL 12/19	December 2, 2019
Protective Indexed Choice UL	Protective Indexed Choice UL 12/19
Protective Custom Choice UL 1/19 (10-30)	Protective Custom Choice UL 12/19
ProClassic II UL	ProClassic II UL 12/19
ProClassic UL NY 7/12	ProClassic II NY UL 12/19*
ProClassic Legacy UL	ProClassic Legacy UL 12/19

*Contingent upon product approval in the state of New York

Products Being Removed

Several of Protective’s products will be closed to new sales as of December 31, 2019.

• Protective Investors Choice VUL

• Protective Preserver II Single Premium Variable Life

• Protective Premiere III Variable Universal Life Special Buyer's Version

• Protective Survivorship Term

• Protective ProClassic UL 1/11 with the Enhanced Cash Surrender Value Rider

• Protective ProClassic UL NY 7/12

• Protective One-Year Term

• Protective Survivor Universal Life

Transition Rules

Clients can receive current product versions through December 31, 2019, if they:

• Submit a signed application (includes completing the TeleLife^® interview or signing a paper application) and illustration (if necessary).

• Pay an initial premium.

• Have a policy effective date in 2019.

If all three items above are not completed in 2019, the client will automatically transition into the replacement product version noted in the table.

Illustrations: Beginning December 2, 2019, the products above will no longer be available for new (basic) illustrations. Any illustrations for these products that are run after December 2 must be marked as a revised illustration. After December 20, 2019, illustrations for current products will only be available through the Protective Life Sales Desk.

Ticket business: All application tickets for current products must be submitted on or before December 13, 2019.

Special Considerations

• Underwriting for these products may continue into 2020, if:

- The policy is issued with a policy effective date in 2019.

- A signed application/illustration and initial premium payment are received in 2019.

- All policies must be placed by February 1, 2020.

• For cases above the TIA/Conditional Receipt limit (cases with a death benefit larger than $1 million), please note that the full premium should be submitted. However, per the Conditional Receipt agreement, Protective will not be liable for total coverage above $1 million.

• “Initial premium” means the minimum monthly required premium, which will cover at least one month of monthly deductions. No exceptions to the cash requirement can be made.

• For 1035 conversions

– “initial premium” must come in in 2019; remaining 1035 funds can come in later. However, if 1035 money is being used for initial policy funding, it must be inhouse by December 31, 2019, no exceptions.

• Informal applications that remain pending after December 31, 2019 will not receive current product versions.

Please contact the Protective Life Sales Desk with any illustration requests or additional questions

Rider Changes

• Newly repriced ExtendCare Rider now offers chronic illness coverage at an even lower cost with prices lowered by an average of 10 – 15%. ExtendCare Rider not available on all life products.

• Waiver of Specified Premium is now available replacing the Disability Benefit Rider.

Class Changes

• Juvenile Class is now available for Ages 0 to 17. Juvenile Class is not available on all life products.

November 4, 2019 v7.00.220

VARIABLE UNIVERSAL LIFE (VUL):

Effective 11/18/2019, Protective Strategic Objectives II VUL product is available for sale in all states except CA and NY.

Our new income-based VUL solution boasts a competitive design and delivers:

· A VUL Solution that Offers Top-Rated funds with even lower fund fees.

· Strong cash value potential, thanks to offering highly-rated funds with even lower fees.

· Increased fund stability, as most of our funds have received a 4 or 5 star rating from Morningstar®.

· More simplicity, due to streamlined model portfolios that help clients achieve their desired financial goals.

In addition, Protective Strategic Objectives II VUL offers:

· Tax-deferred cash value growth to provide more income for retirement planning.

· Tax-advantaged withdrawals and loans to help supplement retirement income.

· Tax-free death benefit coverage to protect loved ones.

· Features like the Overloan Protection Benefit that help protect against policy lapse.

Riders:

· Newly repriced ExtendCare Rider now offers chronic illness coverage at an even lower cost with prices lowered by an average of 10 – 15%.

· Waiver of Specified Premium is now available replacing Disability Benefit Rider.

IMMEDIATE ANNUITY (SPIA):

Effective 11/4/2019, Protective ProPayer Income Annuity 9/19 product is available for sale with updated mortality table and expanded buckets to allow crediting rates to be spread more granular level.

Effective for illustrations run 11/4/2019 or later, rates for Protective ProPayer Income Annuity 9/19 product will be locked as of the illustration date, rather than the application date. This date will be noted in the Quote Expiration Date field on the illustration. The rate lock window will remain 14 days for funded applications, with a 60-day window for transfers.

· Applications received 11/4/2019 or after will honor the quote noted on the illustration. If the completed application, premium amount (or transfer request paperwork in the case of a 1035 exchange or transfer), and other required documents are not received in good order by the Quote Expiration Date, the actual payment values may differ from those shown. A copy of the illustration dated 11/4/2019 or later must be submitted with the application.

· Applications received prior to 11/4/2019 are subject to currently existing rate lock procedures.

Additionally, effective 11/4/2019, the following standard commission schedule will apply for Protective ProPayer Income Annuity 9/19 product.

Life Contingent Issue Age	Commission
0-75	3.00%
76+	3.00%

Period Certain Only	Commission
6-9	2.50%
10-14	3.00%
15+	3.00%

To learn more about the current rates on our single premium immediate annuities, available in all states, talk with your Annuity Wholesaling Team or contact the Annuity Sales Desk at 888-340-3428.

INDEXED CHOICE UL:

The following interest rates have been updated for the Indexed Choice UL product:

16. Illustrated interest rate updated from 5.63% to 5.37%.

17. Cap Rate updated from 9.00% to 8.50%.

18. AG49 Minimum updated from 3.61% to 3.48%.

19. AG49 Maximum updated from 7.07% to 6.76%.

20. Non-guaranteed loan interest rate updated from 4.63% to 4.37%.

September 27, 2019 v7.00.219

The limit error for the Indexed Choice UL has been resolved which was based on the Compare Report between Advantage Choice UL and Indexed Choice UL. The Compare Report will be now suppressed if any Face Amount or Age limit is encountered for Indexed Choice UL.

The Compare Report is now shown at the end of the illustrations and will continue to show under the Product Comparison under the More button:

After running the illustration, please go to the More button and select Product Comparison. Or select the illustration PDF.

September 5, 2019 v7.00.218

Advantage Choice UL (ACUL) and Indexed Choice UL (ICUL):

Introducing compare report between ACUL and ICUL. If your client is looking for even more value, our Protective Indexed Choice UL pairs strong lifetime guarantees with realistic cash value potential. That’s because Protective Indexed Choice UL leverages a practical cap rate to help keep policy fees low, so clients are more likely to get the cash value they expect, as well as the guarantees they count on.

This Agent Only optional compare report is available under the Output Options Tab.

Additional product information materials can be found on www.sellwhatmatters.com

WHOLE LIFE:

The Non-Par Whole Life 2019 NY (Conversion Only) product is now available under the Protective Life Company (moved from the Protective Life and Annuity Insurance Company).

The New York (NY) version of the illustration will remain unchanged with all NY required information.

August 12, 2019 v7.00.217

TERM:

Updated rates for the Protective Classic Choice Term 8/19 (CCT):

· For 30 Year Term Plan, we have expanded the issue ages from 52 to 55 for the Select Preferred, Preferred, and Non-Tobacco classes.

· Rate changes with both increases and decreases.

· Post level premiums have changed.

· No changes to the current rates for NY that were effective 7/1/2019.

State Approvals: Approved in all states except AS & GU.

Illustration, Quoting Systems, (ELI, WinFlex, & External Quote Services), & New Business Transition Rules:

· The new rates (CCT 8/19 non-NY) are available in the illustration systems starting August 12, 2019.

· The old rates (CCT 4/19) will remain available for full basic illustrations until August 26, 2019.

· The old rates (CCT 4/19) will remain available only for numeric summary (draft) and revised illustrations until September 9, 2019.

· The old CCT 4/19 product will be removed from the illustration systems on September 9, 2019.

· For ticket business and direct writer (CCT re-price outside NY): applications must be signed and received on or before September 9, 2019.

· For paper business (CCT paper apps): applications must be signed and received on or before August 26, 2019.

· Any application in underwriting on August 12, 2019 may choose the version of the product (old or new).

WHOLE LIFE (available under the Protective Life and Annuity Insurance Company):

Effective 8/12/2019 the Non-Par Whole Life 2019 NY (Conversion Only) product is available with updated CSO 2017 mortality tables.

· A new Juvenile underwriting class is also available for Ages 0 to 17.

· The previous Non-Par Whole Life 11/13 (Conversion Only) product will no longer be made available effective 9/14/2019 in NY.

· Application must be signed and received in the Protective Home Office by September 9, 2019 to receive the NPWL 2013.

· Applications received on or after Sept 10, 2019 will receive the NPWL 2019 product rates

· Exceptions will not be allowed.

ANNUITY UPDATE:

Indexed Annuity (FIA): Removed the 10% Maximum Penalty Free Withdrawal Limit after the surrender charge period ends:

· Applies to FIA without a rider – Asset Builder, Indexed Annuity NY, Indexed Annuity II without a rider selected.

· Out of Scope for FIA with a rider – Income Builder, Guaranteed Income, Indexed Annuity II with a rider selected.

· Maximum Penalty Free Limit is applicable during the surrender charge period.

· Maximum Penalty Free Limit is NOT applicable AFTER the surrender charge period.

· Minimum Withdrawal Amount is applicable during and after the surrender charge period

· Minimum Cash Value Remaining limit is applicable during and after the surrender charge period.

· There are no changes to the User Interface.

Effective 8/19/2019, state of California will be available for the Guaranteed Income and Income Builder Indexed Annuity products.

July 1, 2019 v7.00.216

TERM:

Updated rates for the state of New York - Protective Classic Choice Term 4/19 (CCT):

· Rate changes with both increases and decreases.

· No change in the Monthly Modal Factor (still at 0.0855).

Illustration, Quoting Systems (ELI, WinFlex, & External Quote Services), & New Business Transition Rules:

• The new rates in NY are available in the illustration systems starting July 1, 2019.
• The old rates (CCT 8/18 NY only) will remain available for full basic illustrations until July 15, 2019.
• The old rates (CCT 8/18 NY only) will remain available only for numeric summary (draft) and revised illustrations until July 15, 2019.
• For paper business (all NY business and CCT paper apps): applications must be signed and received on or before July 15, 2019.
• Any application in underwriting on July 1, 2019 may choose the version of the product (old or new).

WHOLE LIFE:

Effective 7/12/2019, Non-Par Whole Life 2019 (Conversion Only) product is available with updated CSO 2017 mortality tables.

· Available in all states except NY.

· A new Juvenile underwriting class is also available for Ages 0 to 17.

· The previous Non-Par Whole Life 11/13 (Conversion Only) product will no longer be made available effective 8/12/2019.

INDEXED ANNUITY:

Effective 7/15/2019, Guaranteed Income 2019 product is available with additional Rate Cap Term strategy.

· Available in all states except CA & NY.

· Until 7/15/2019, please continue to quote Guaranteed Income product available in all states except NY.

VARIABLE UNIVERSAL LIFE:

Effective 7/1/2019, the Lord Abbett Classic Stock Portfolio VC fund is no longer available.

May 13, 2019 v7. 00.215

FIXED ANNUITY:

As part of our ongoing commitment to offer high value, competitive annuity products, we are pleased to let you know about the enhanced output changes to our Fixed Annuity products.

We Heard You:

• The Expense Disclosure Report for UL and VUL products now show the cumulative totals.
• We squashed a bug that prevented showing Target Premium on the output of the Advantage Choice UL product.

May 6, 2019 v7.00.214

VARIABLE UNIVERSAL LIFE (VUL):

1. A new Growth Model Portfolio with low fee is now available for the Strategic Objectives VUL product.

2. For some of the VUL funds, the fund expenses have been updated. The Total Weighted Average Annual Expense Charge is now updated from 0.84% to 0.86%.

3. Effective 5/28/2019, the Oppenheimer Funds are renamed to Invesco Oppenheimer V.I. Funds.

RIDER UPDATE:

Child Term Rider (CTR) units have been increased from 20 to 25.

UNIVERSAL LIFE (UL):

The lapse protection termination “Month” is now printed along with the year under the Tabular Detail page of the Advantage Choice and Index Choice UL products.

INDEXED ANNUITY:

As part of our ongoing commitment to offer high value, competitive annuity products, we are pleased to let you know about some exciting changes to the Protective Income Builder Indexed Annuity, effective May 6, 2019.

Contract Value Growth in a Variety of Market Scenarios

Protective Income Builder now offers 2 additional interest crediting strategies for growth in a variety of market scenario in addition to one fixed and two indexed strategies. Strategy allocation is chosen at the time of application and may be adjusted upon each contract anniversary.

· 2-Year Participation & Spread Indexed Strategy – Participation Focus

· Annual Rate Cap for Term Indexed Strategy

State Availability:

· Protective Income Builder is available in all states except California (CA) and New York (NY). Please continue to quote the previous version of the Income Builder product in CA.

April 1, 2019 v7.00.213

TERM:

Updated rates for the Protective Classic Choice Term 4/19 (CCT):

· Rate changes with both increases and decreases for a total overall average impact of 1.05% decrease.

· Premium increases at younger ages (<45) on shorter terms (10 and 15 year) and lower face amounts (<$500K).

· Monthly Modal Factor decreasing from 0.0855 to 0.0850 in all states except NY (still at 0.0855).

· Decrease premiums on 20 and 30 year terms.

· Tobacco class - Post level premium period rates are unchanged

· NY Changes:

o No changes to the current rates for NY. Use the CCT 8/18 product to illustrate.

o Face Amounts under $1M are no longer available.

o 25 year term is no longer available.

State Approvals: Approved in all states except AQ & GU. NY uses previous rates (8/18) until approved.

Illustration, Quoting Systems (ELI, WinFlex, & External Quote Services), & New Business Transition Rules:

· The new rates (CCT 4/19 except NY) are available in the illustration systems starting April 1, 2019.

· The old rates (CCT 8/18 except NY) will remain available for full basic illustrations until April 5,2019.

· The old rates (CCT 8/18 except NY) will remain available only for numeric summary (draft) and revised illustrations until April 29, 2019.

· For ticket and direct writer business (for Protective edge Term and PCCT 8/18 and NY under $1M): applications must be signed and received on or before April 29, 2019.

· For paper business (for Protective edge Term and PCCT 8/18 and NY under $1M): applications must be signed and received on or before April 15, 2019.

· Any application in underwriting on April 1, 2019 may choose the version of the product (OLD includes NY or NEW except NY).

REVISED ILLUSTRATIONS:

*Revised Illustration* watermark added to the top of all pages of revised life illustrations. One of several changes being made to help reduce New Business NIGO issues related to illustrations. Look for additional changes soon.

February 1, 2019 v7.00.212

INDEXED CHOICE UL:

The following interest rates have been updated for the Indexed Choice UL product:

21. The illustrated interest rate has been updated from 5.60% to 5.63%.

22. The non-guaranteed loan rate has been updated from 4.60% to 4.63%.

ADVANTAGE CHOICE UL:

1. The Advantage Choice UL 2/16 (old repriced) product is no longer available. Please continue to quote the current Advantage Choice UL 1/19 product.

INDEXED ANNUITIES:

1. The following was updated based on the SP500 returns:

Low Scenario - 12/31/1999 to 12/31/2009

High Scenario - 12/31/2008 to 12/31/2018

Most Recent - 12/31/2008 to 12/31/2018

2. The following Guaranteed Level Withdrawal Benefit graphics were update:

a. "How it Works" graphics for Guaranteed Benefit Base Growth and Withdrawals Continue Even If Your Contract Value Falls to Zero (Level and Increasing) has been updated with Guaranteed Benefit Base Growth.

b. Updated graphics for the Withdrawals Continue Even If Your Contract Value Falls to Zero for Indexed II with MVA, Income Builder, and Guaranteed Income products.

3. Effective 1/14/2019, the Spread Focus Strategy is no longer available with the Asset Builder products.

FIXED ANNUITIES:

Effective 1/7/2019, a 5-year guarantee is now available for the Protective Secure Saver product.

December 17, 2018 v7.00.211

UNIVERSAL LIFE:

1. Increased rates for the Protective Advantage Choice UL product effective 12/17/2018.

Paper and Electronic Application Submissions

• To receive current pricing: all applications must be signed and received at Protective’s home office on or prior to 12/31/2018.
• All applications received after 12/31/2018 will receive new pricing.
• Current pricing can have a policy effective date of 2019.
• Ticket platforms will only quote new rates on 12/17/2018.

Illustration and Quoting Systems (ELI and WinFlex)

• The new rates (1/19) will be available in the ELI and WinFlex illustration systems on 12/17/2018.
• The old rates (2/16) will remain available for full basic illustrations until 12/31/2018.
• The old rates (2/16) will remain available only for numeric summary (draft) and revised illustrations until 2/11/2019.

Product Availability

The Protective Advantage Choice UL product is not available in California & New York.

2. For the ProClassic NY UL product, the following riders are no longer available for sale:

Covered Insured Rider, Protected Insurability Rider, and Death BenefitPlus Rider.

UNIVERSAL LIFE / ALTERNATIVE TO TERM:

1. Increased rates for the Protective Custom Choice UL product effective 1/1/2019.

Traditional Paper Applications

• All applications signed and received on or before 1/7/2019 will be processed with the old rates. 
• All applications signed and received after 1/7/2019 will be processed with the new rates. 

TeleLife Tickets Submitted

• All tickets submitted on or after 1/1/2019 will quote and receive the new rates. 
• All tickets submitted prior to 1/1/2019 and application packages signed and received on or before 2/1/2019 will be processed with the old rates. 

• All application packages signed and received after 2/1/2019 will be processed with the new rates regardless of when the ticket was submitted. 

Illustration and Quoting Systems (ELI and WinFlex)

• The new rates (1/19) will be available in the ELI and WinFlex illustration systems on 1/1/2019.
• The old rates (8/16) will remain available for full basic illustrations until 1/7/2019.
• The old rates (8/16) will remain available only for numeric summary (draft) and revised illustrations until 2/11/2019.

Product Availability

The Protective Custom Choice UL product is not available in New York.

EXTENDCARE RIDER:

The Internal Revenue Service (IRS) recently announced upcoming 2019 changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care. Under IRS code § 7702B(d)(4), the 2017 per diem limitation for periodic payments from these types of policies will increase to $370/day. This increase will allow access up to $11,100 of insureds policy’s death benefit each month through ExtendCare, a chronic illness protection rider.

INDEXED ANNUITY:

The Spread Focus Strategy is no longer available for the Asset Builder Indexed Annuity products.

August 27, 2018 v7.00.210

TERM:

Updated rates for the Protective Classic Choice Term 8/18 (CCT):

· Approximate 1% lower premium in aggregate, more at 25 and 30 year and standard underwriting classes and at higher bands.

· Monthly Modal Factor has been updated to .0855.

· Waiver of Premium rider expiry has been updated from age 60 to 65.

State Approvals: Approved in all states except AQ, GU, and NY.

Available Riders: Accidental Death Benefit, Child Term Rider, & Waiver of Premium (not approved in CA & NY).

Illustration and Quoting Systems (ELI and WinFlex)

· The new rates (CCT 8/18) are available in the illustration systems starting 8/27/2018.

· The old rates (CCT) will remain available for full basic illustrations until 9/2/2018.

· The old rates (CCT) will remain available only for numeric summary (draft) and revised illustrations until 9/27/2018.

VARIABLE UNIVERSAL LIFE (VUL):

The Protective Premiere III SBV VUL product has been reinstated for sale.

UNIVERSAL LIFE (UL):

The ProClassic Legacy UL, a conversion product, is now approved in state of CA.

Transition Rules:

· All term conversion or non-evidence internal exchanges application in California must be signed and received by Monday, October 15, 2018 in order to receive the ProClassic UL product. 

· All application received after Monday, October 15, 2018 will convert or exchange into ProClassic Legacy UL product in California.

August 6, 2018 v7.00.209

FIXED ANNUITY:

Non Natural Owner functionality is now available for the Fixed Annuity products.

INDEXED ANNUITY:

For the Guaranteed Income Indexed Annuity product, added a reminder under Messages: “This product has a limited distribution, please check with your BGA before illustrating.”.

June 4, 2018 v7.00.206 & June 6, 2018 v7.00.207

INDEXED ANNUITY:

As part of our ongoing commitment to offer high value, competitive annuity products, we are pleased to announce Protective Guaranteed Income Indexed Annuity product with the Guaranteed Income Benefit.

TERM:

The Income Provider Option (IPO) is now available for the Classic Choice Term products.

For the Universal Life and Variable Universal Life products, the IPO rates have been updated.

ANNUITIES:

The guaranteed minimum and base interest rates were updated from 1.00% to 1.25% for the Indexed and Fixed Annuity products.

April 30, 2018 v7.00.205

UNIVERSAL LIFE (UL):

Introducing ProClassic Legacy UL (conversion product): a new current assumption universal life policy that offers flexible premiums and cash-value potential. As part of this launch, ProClassic UL 1/11 will be discontinued on April 30, 2018 with conversion applications discontinuing on June 29, 2018. In addition, ProClassic 1/11 UL with the Enhanced Cash Surrender Value Rider and ProClassic UL NY 7/12 will continue to be available for new issues and certain conversions. Please review the transition rules for complete information.

Transition Rules:

· For new business, ProClassic UL 1/11 will close on April 30, 2018: applications must be signed and received on or before April 30.

· For conversions, ProClassic UL 1/11 will close on June 29, 2018: conversion applications must be signed and received on or before June 29.

VARIABLE UNIVERSAL LIFE (VUL):

1. For some of the VUL funds, the fund expenses have been updated. The Total Weighted Average Annual Expense Charge is now updated from 0.83% to 0.84%.

2. The following fund name has been updated: Goldman Sachs VIT Strategic International Equity Insights Fund Service Class.

March 28, 2018 v7.00.204

INDEXED ANNUITY:

We heard you.... the indexed annuity illustrations are now repaginated to bring relevant information closer to the front.

February 12, 2018 v7.00.203

INDEXED CHOICE UL:

The following rates have been updated for the Indexed Choice UL product:

1. The illustrated interest rate has been updated from 5.57% to 5.60%.

2. The non-guaranteed loan rate has been updated from 4.57% to 4.60%.

INDEXED ANNUITIES:

The following changes were updated for the SP500:

Low Scenario - 12/31/1998 to 12/31/2008

High Scenario - 12/31/2007 to 12/31/2017

Most Recent - 12/31/2007 to 12/31/2017

FIXED ANNUITIES:

1. The following products were added for Chase only distribution offering guaranteed periods of 4, 5, 6, & 7 years: Smart Saver Fixed Annuity and Smart Saver NY Fixed Annuity
2. The ProSaver Plus II product is no longer available for sale.
3. The ProSaver Secure II product is now only available in NY.
4. The minimum withdrawal amount was reduced from $500 to $100 for the Secure Saver & Smart Saver products.

January 8, 2018 v7.00.202

FIXED ANNUITY:

The Secure II with MBG option product is no longer available for sale except in State of New York (NY). Please continue quoting the Secure Saver 7 product available in all states except NY.

UNIVERSAL LIFE:

Effective 1/16/2018, the ProClassic II UL product will be made available for sale in the state of California (CA).

December 20, 2017 v7.00.201

SURVIVOR UNIVERSAL LIFE:

Due to the continued low interest rate environment, it has become necessary to increase the rates of our Protective Survivor UL1-18 product. With this change, rate bands will be removed from the product.

In addition, Protective Survivor UL 1-18 will be “non-illustrated”, meaning product illustrations will only show guaranteed values. By only showing guaranteed values on illustrations, we will eliminate the signature requirement—giving you more time to provide value to your clients.

The rate changes will be released in our ELI and WinFlex illustration systems December 20, 2017 and are effective January 1, 2018.

Transition Rules:

• All applications for Survivor UL 1-13 must be signed on or before December 31, 2017 and received on or before January 12, 2018. These will have the illustrated version of the product.

• All applications signed and received on or after January 1, 2018 will be issued on the new non-illustrated product, Protective Survivor UL 1/18.

• Protective Survivor UL 1-18 is only available through paper applications.

• Protective Survivor UL 1-13 will no longer will be made available in WinFlex starting 2/11/2018.

If you have any questions, please contact the Protective Life Sales Desk at 800.628.6390, option 2.

CUSTOM CONCEPT:

Protective Life’s Buy-Sell Funding Concept is now available for the Custom Choice UL 10 to 30 products. 

This supplemental illustration shows the cost effectiveness of funding a buy-sell arrangement using life insurance (Level Period 10 – 30) or permanent cash value coverage to fund a buy-sell insurance obligation.  Permanent cash value coverage can help provide funding to buy-out a business owner at their retirement.  The illustrations shows the yearly cost-per-dollar for funding the Protective life policy, compared to using cash reserves, or borrowing money.

November 20, 2017 v7.00.200

UNIVERSAL LIFE:

For the ProClassic II UL product, the first year Premium Limit has been increased from $2M to $5M.

FIXED ANANUITY:

The option to allow Non-Natural Person on the Fixed Annuities is now available under the Annuitant’s Tab.

MAINTENANCE UPDATE:

We have increased the size of the Broker/Dealer Name and Business Name fields to accommodate additional characters on the Life and Annuity product illustrations. These changes are reflected on the appropriate Cover Page, Header, and Footer of the illustrations.

October 30, 2017 v7.00.199

UNIVERSAL LIFE:

Protective is excited to introduce ProClassic II UL product effective October 30, 2017.

Our new ProClassic II UL product offers larger target premiums to agents and lower premium costs to clients. Additionally, with an interest rate of 3.75%—an increase of 45 basis points from ProClassic UL—ProClassic II UL can provide clients with stronger cash-value accumulation potential.

In addition, the following list of riders will be available with ProClassic II UL:

· Accidental Death Benefit Rider

· Children’s Term Life Insurance Rider

· ExtendCare Rider

· Income Provider Option Endorsement

· Terminal Illness Accelerated Death Benefit Endorsement

ProClassic II UL product is available in all states except CA & NY.

INDEXED ANNUITY:

The minimum withdrawal limit is now updated from $1,000 to $100 (not currently available in NY).

October 2, 2017 v7.00.198

INDEXED CHOICE UL

The following rates have been updated for the Indexed Choice UL product:

1. The illustrated interest rate has been updated from 5.81% to 5.57%.
2. Updated the cap rate from 9.50% to 9.00%.
3. Updated the fixed account interest rate from 3.75% to 3.50%.

4. Updated AG49 Minimum from 3.74% to 3.61%.
5. Updated AG49 Maximum from 7.39% to 7.07%.

September 18, 2017 v7.00.197

VARIABLE UNIVERSAL LIFE:

Protective Life Insurance Company is proud to announce the availability of the following funds for the Preserver II Single Premium VUL product:

TOPS Aggressive Growth ETF Portfolio 2

TOPS Balanced ETF Portfolio 2

TOPS Conservative ETF Portfolio 2

TOPS Growth ETF Portfolio 2

TOPS Moderate Growth ETF Portfolio 2

ADVANCE SALES CONCEPT:

Split Dollar (Employer Owned) Advance Sales Concept is now available under the Custom Concept Tab for Advantage Choice UL, Indexed Choice UL, ProClassic UL, Strategic Objectives VUL, and Investors Choice VUL products.

August 18, 2017 v7.00.196

FULL GUARANTEE TERM:

For the Classic Choice Term product, the Waiver of Premium Rider is now approved in all states except CA, NJ, & NY.

Effective 8/21/2017, the Classic Choice Term product is available for sale in State of New York (NY).

August 11, 2017 v7.00.195

Maintenance Release

August 7, 2017 v7.00.194

FULL GUARANTEE TERM:

Protective Life Insurance Company is proud to announce our newest Term product: Protective Classic Choice Term.

The Protective Classic Choice Term is a renewable and convertible term life insurance policy that offers fully guaranteed level premiums for the initial premium periods of 10, 15, 20, 25 or 30 years. It gives your client the assurance of knowing their premiums will not increase at any time during the selected level-premium period. When the guaranteed level premium period is complete, the option is available to renew the policy at a higher premium rate (the premium will increase every year thereafter) all the way up to age 90, without proof of insurability.

State Approvals: Approved in all states except AQ, GU, and NY (available 8/21/2017).

Available Riders: Accidental Death Benefit, Child Term Rider, & Waiver of Premium (effective 8/18/207).

Conversions are allowable for the level premium term period less two years subject to an age maximum of 70 years old.  Conversions for the first five (5) years will be allowed to an expanded set of products, which today includes all of our currently marketed products except Survivor UL, Survivor Term and Single Premium VUL.  After five (5) years, conversion can take place only to a limited basic set of products.

• Classic Choice 10 8 years
• Classic Choice 15 13 years
• Classic Choice 20, 25 and 30 18 years

July 17, 2017 v7.00.193

VARIABLE UNIVERSAL LIFE:

Protective Life Insurance Company is proud to announce the availability of the following new funds for the Investors Choice VUL and Strategic Objectives VUL products:

• TOPS Aggressive Growth ETF Portfolio 2
• TOPS Balanced ETF Portfolio 2
• TOPS Conservative ETF Portfolio 2
• TOPS Growth ETF Portfolio 2
• TOPS Moderate Growth ETF Portfolio 2

July 3, 2017 v7.00.192

FIXED ANNUITY:

Protective Life Insurance Company is proud to announce our newest retirement solution: Protective Secure Saver Fixed Annuity. It is designed specifically for conservative investors who are concerned primarily with asset protection. Protective Secure Saver is available for sale July 3, 2017 and features:

· A 7-year interest rate guarantee period with highly competitive rates

· 3 interest rate bands:

o Less than $25,000

o $25,000 to $74,999

o $75,000 or more

· Issue age to 85 (18-85 for qualified contracts)

· Minimum initial purchase payment of $10,000, minimum additional payments of $50

· No up-front fees

· Annual penalty-free withdrawals of 10% of contract value

· A 7-year surrender charge schedule: 9%, 8%, 7%, 6%, 5%, 4%, 3%

· Nursing Home, Terminal Illness and Unemployment waivers

Protective Secure Saver is approved in all states except CA, FL, & NY.

June 26, 2017 v7.00.191

Maintenance Release

June 1, 2017 v7.00.190

VARIABLE UNIVERSAL LIFE:

Protective Life Insurance Company is pleased to introduce a new ExtendCare Rider 2017 available with Protective Investors Choice VUL and Protective Strategic Objectives VUL.

So what’s different? The new ExtendCare Rider features:

· Removal of the permanent loss of two Activities of Daily Living (ADLs) requirement

· Waiver of monthly deductions required to maintain the policy during a benefit period

· An additional waiver of monthly deductions for as long as the policy is in force, if the insured is certified as chronically ill for three consecutive benefit periods

In the illustration software, there are additional choices to select monthly benefit that is now calculated based on 2% or 4% of the Face, Max Available, or Custom.

INDEXED ANNUITY:

As part of our ongoing commitment to offer high value, competitive annuity products, we are pleased to announce some exciting changes to the Protective Indexed Annuity II, effective June 5, 2017:

Two New Interest Crediting Strategies:

· Both of these new strategies credit interest based, in part, on the performance of the S&P 500 Index (without dividends)

· Annual Trigger Rate

o When market index performance is flat or positive, this strategy credits a predetermined trigger interest rate. When market index performance is negative, no interest is credited for that year.

· Annual Cap Rate to Term

When market index performance is positive, this strategy credits interest equal to the lesser of the index performance or the interest rate cap in effect for that contract year. This option guarantees the interest rate cap to be locked in and remain constant for the entire surrender charge period, then annually thereafter. When market index performance is negative, no interest is credited for that year.

May 1, 2017 v7.00.189

VARIABLE UNIVERSAL LIFE:

For some of the VUL funds, the fund expenses have been updated. The Total Weighted Average Annual Expense Charge is now updated from 0.85% to 0.84%.

INDEXED ANNUITY:

1. As part of our ongoing commitment to offer high value, competitive annuity products, we are pleased to announce some exciting changes to the Protective Income Builder Indexed Annuity, effective May 1, 2017.

Enhanced Growth Potential With a Choice of Level or Increasing Income

The new Guaranteed Income Benefit offers enhanced benefit base growth potential now with a choice of two guaranteed income options for later. Our protected lifetime income benefit can help your clients meet their retirement planning needs with:

· The benefit base grows each year with an 8% simple interest roll-up

· Clients elect to take income when they are ready, and can choose from one of two strategies:

o Rising - withdrawals start lower and increase over time

o Level - withdrawals start higher and are level over time

2. Protective Asset Builder Indexed Annuity product - The most recent update to the NAIC model 2011 Regulation 245 states:

If any index utilized in determination of an account value has not been in existence for at least ten (10) calendar years, indexed returns for that index shall not be illustrated.

The following states have adopted this model: Alabama (AL), Colorado (CO), Idaho (ID), Iowa (IA), Maine (ME), Ohio (OH), Rhode Island (RI), and West Virginia (WV).

When the Asset Builder Indexed Annuity product was introduced, the position was to exclude the Citi Bank data (Interest Rate Scenarios) or use a repeating 10 years of hypothetical rates (Hypothetical Contract Summary/Detail Reports) because the Citi Flexible Allocation 6 Excess Return Index was less than 10 years old.  Even though there are only 8 states that adopted the recent change, the current version of the illustration was used for all states. 

Effective May 1st, states that have not adopted the current model, will be illustrated with hypothetical back-tested values.

April 17, 2017 v7.00.188

UNIVERSAL LIFE:

Protective Life Insurance Company is pleased to introduce a new ExtendCare Rider 2017 available with Protective Advantage Choice UL and Protective Indexed Choice UL.

So what’s different? The new ExtendCare Rider features:

· Removal of the permanent loss of two Activities of Daily Living (ADLs) requirement

· Waiver of monthly deductions required to maintain the policy during a benefit period

· An additional waiver of monthly deductions for as long as the policy is in force, if the insured is certified as chronically ill for three consecutive benefit periods

In the illustration software, there are additional choices to select monthly benefit that is now calculated based on 2% or 4% of the Face, Max Available, or Custom.

March 24, 2017 v7.00.187

Maintenance Release.

March 20, 2017 v7.00.186

UNIVERSAL LIFE:

1. For the Indexed Choice UL product, the following updates are now available effective 3/16/2017:

· Illustrated indexed interest rate is updated from 5.79% to 5.81%.

· The non-guaranteed loan interest rate has been updated from 4.79% to 4.81%.

· Effective 3/20/2017, the Monthly Level Transfer (MLT) option is now available under the Policy Options Tab. MLT is an automatic monthly transfer of a fixed dollar amount from the Fixed Account to the Indexed Account for a period of no more than 12 months. Transfers will occur on the 15th of the designated months.

LIFE PRODUCTS:

Effective 3/1/2017, the Disability Benefit Rider (DBR) is no longer available for sale in State of Montana.

VARIABLE UNIVERSAL LIFE (VUL):

1. For the Investors Choice VUL product, a supplemental report is now available comparing the Endow to Age 100 and Lapse Protection to Age 100 premiums and Policy Values. The optional compare report is available under the Output Options Tab.

2. For the Defined Objectives program available with the Strategic Objectives VUL product, the “Default Fund Allocation” option is no longer allowed. Please select a Model Portfolio or Custom Funds.

March 16, 2017 v7.00.185

UNIVERSAL LIFE:

For the Indexed Choice UL product, the following updates are now available effective 3/16/2017:

· Illustrated indexed interest rate is updated from 5.79% to 5.81%.

· The non-guaranteed loan interest rate has been updated from 4.79% to 4.81%.

March 1, 2017 v7.00.184

LIFE PRODUCTS:

Effective 3/1/2017, the Disability Benefit Rider (DBR) is no longer available for sale in State of Montana (MT).

February 20, 2017 v7.00.183

Maintenance Release.

February 1, 2017 v7.00.182

INDEXED ANNUITY:

We are pleased to announce additional surrender periods of 5, 7, 9, & 10 to enhance our current Protective Asset Builder Indexed Annuity 6 and 8 products.

January 17, 2017 v7.00.181

Maintenance Release.

January 3, 2017 v7.00.180

INDEXED ANNUITY:

Effective January 3, 2017, the Tiered Rate Strategy is no longer available for Protective Asset Builder Indexed Annuity 6 and 8 products.

ANNUITY PRODUCTS:

The illustration output has been updated to reflect DOL guidelines.

EXTENDCARE RIDER:

The Internal Revenue Service (IRS) recently announced upcoming changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care. Under IRS code § 7702B(d)(4), the 2017 per diem limitation for periodic payments from these types of policies will increase to $360/day. This increase will allow access up to $10,800 of insureds policy’s death benefit each month through ExtendCare, a chronic illness protection rider.

December 5, 2016 v7.00.178 & v7.00.179

IMMEDIATE ANNUITY (SPIA):

The purchase payment limit has now increased from $10,000 to $50,000.

October 11, 2016 v7.00.177

VARIABLE UNIVERSAL LIFE:

The Premiere III Xpress products are no longer available. Please continue to quote our most recent Strategic Objectives VUL and Investors Choice VUL products.

UNIVERSAL LIFE / ALTERNATIVE TO TERM:

The Custom Choice UL 10/15 product is no longer available for sale. Please continue to quote our most recent Custom Choice UL 8/16 product.

October 3, 2016 v7.00.176

VARIABLE UNIVERSAL LIFE:

Defined Objectives is now added to Strategic Objectives VUL product.

September 12, 2016 v7.00.175

INDEXED ANNUITY:

1. The Indexed II 5, 7, & 10 products are no longer available.

2. Indexed II MVA product - State of IA and OR have been updated to follow the withdrawal charges schedule similar to other states noted below:

Withdrawal Charge Schedule:

10 Year = 9,9,8,7,6,5,4,3,2,1,0

7 Year = 9,9,8,7,6,5,4,0

5 Year = 9,9,8,7,6,0

3. Indexed II MVA product is now approved in states of AK, MO, PA, UT & VT.

4. Asset Builder 6 product - The following states of AK, MO, PA, UT, & VT have been updated to follow the withdrawal charges schedule similar to other states noted below:

Withdrawal Charge Schedule:

6 Year = 9,8,7,6,5,4,0

8 Year = 9,8,7,6,5,4,3,2,0

5. Asset Builder 8 product is now approved in states of AK, MO, PA, UT, & VT with the withdrawal charge schedule noted above.

6. Asset Builder 6 and 8 products are now approved in state of HI with the withdrawal charge schedule noted above.

August 29, 2016 v7.00.174

UNIVERSAL LIFE / ALTERNATIVE TO TERM:

Updated rates for the Protective Custom Choice UL 8/16 (CCUL):

· The level premiums are lowered by approximately 1.5% for CCUL 15/20/25/30 Non-Smokers only (i.e. Select Preferred, Preferred, and Non-Tobacco).

· All Smoker level premiums remain unchanged.

· All Non-Smoker and Smoker CCUL 10 year level premiums remain unchanged.

Illustration and Quoting Systems (ELI and WinFlex)

· The new rates (CCUL 8/16) are available in the illustration systems starting 8/29/2016.

· The old rates (CCUL 10/15) will remain available for full basic illustrations until 9/29/2016.

· The old rates (CCUL 10/15) will remain available only for numeric summary (draft) and revised illustrations until 10/28/2016.

Product Availability

The Protective Custom Choice UL 8/16 product is not available in New York.

UNIVERSAL LIFE:

For the Indexed UL product, the non-guaranteed loan rate has been updated from 5.00% to 4.79%.

We heard you…for all the Universal Life products, the illustration output is reorganized to move the Tabular Detail earlier in the illustration. For the Indexed UL, the product specific pages have been rearranged. The Supplemental and Policy Mechanics pages are now optional and can be selected under the Output Options Tab.

August 3, 2016 v7.00.173

General Updates:

For the Strategic Objectives VUL product, the Income Solve now allows the option to Decrease Face at Retirement.

July 25, 2016 v7.00.172

General Updates:

1. The Company Ratings have been updated to reflect Fitch ratings from A to A+ (Strong, 5^th highest of 22 ratings).

2. Removed the edit that prevents Withdrawals beginning in year 2 for all UL products. 

July 18, 2016 v7.00.171

Maintenance Release

July 5, 2016 v7.00.170

IMMEDIATE ANNUITY (SPIA):

The ProPayer Income Annuity 7/16 product is now available with following updates:

· Updated pricing.

· Tax calculations adjustments.

· Correction to Max Certain Period (for Qualified quotes only) to ensure quotes are not allowed for periods that is too long.

· Minimum Income Threshold Test (MITT) for Qualified quotes only.

June 9, 2016 v7.00.169

Maintenance Release.

June 6, 2016 v7.00.168

VARIABLE UNIVERSAL LIFE:

Introducing Protective Strategic Objectives Variable Universal Life product.

Protective Strategic Objectives VUL will be available for sale in all states, except New York, on June 6, 2016. The product will not be available in Puerto Rico.

INDEXED ANUITY:

1. We are pleased to announce a new enhancement to our Protective Asset Builder Indexed Annuity. Effective June 6, 2016, the 2-Year Participation & Spread interest crediting strategy will offer the choice of a Participation Focus and/or Spread Focus.

Participation Focus:

The Participation Focus has a participation rate that we declare in advance, subject to the minimum participation rate, and is guaranteed for each two-year index term. The spread is guaranteed to remain 0% for the life of the contract.

Spread Focus:

The Spread Focus has a spread that we declare in advance, subject to the maximum spread, and is guaranteed for each two-year index term. The participation rate is guaranteed to remain 100% for the life of the contract.

The 2-Year Participation & Spread strategy is linked to the Citi Flexible Allocation 6 Excess Return Index and will continue to credit interest by multiplying the index performance by the participation rate and then subtracting the spread.

2. Indexed Annuity illustration format for the remaining Indexed products are introduced:

· The images and text are consistent with the marketing literature.

· The advisors and clients are better able to understand what they are selling/buying.

· Graphics help draw attention to key concepts.

May 2, 2016 v7.00.167

GENERAL UPDATE:

1. Protective Life’s first year premium limit has been increased from $1M to $2M for the UL and VUL products.
2. Fund Expenses for few VUL funds have been updated.
3. For the VUL funds, the Total Weighted Average Annual Expense Charge did not change from 0.86%.

March 21, 2016 v7.00.166

INDEXED ANNUITY:

The Indexed Annuity II with MVA is now available in state of Oregon. Please note that state of Oregon (OR) has not approved the 10 year product. Also, OR allows the following withdrawal charge percentage by contract year: 5-year (9-8-7-6-5%) and 7-year (9-8-7-6-5-4-3%).

March 14, 2016 v7.00.165

INDEXED ANNUITY:

A new Indexed Annuity illustration format for the Income Builder and Asset Builder products are introduced:

· The images and text are consistent with the marketing literature.

· The advisors and clients are better able to understand what they are selling/buying.

· Graphics help draw attention to key concepts.

· Benefit Withdrawal graph shows the reader how much total income will be paid from Rising Income Benefit.

The Protective Indexed Annuity II MVA and Protective Indexed Annuity NY will be retrofitted into this format shortly.

February 15, 2016 v7.00.164

UNIVERSAL LIFE:

1. Updated rates for the Protective Advantage Choice UL with significant improvements in the following key sales scenarios:

· Standard Non-tobacco risk classes from ages 55 to 75

· Single Pay scenarios

· 1035 exchanges with ongoing premium

The lapse protection limitation to age 110 is now removed and is extended to age 121.

Illustration and Quoting Systems (ELI and WinFlex)

· The new rates (2/16) will be available in the ELI and WinFlex illustration systems on 2/15/2016.

· The old rates (6/13) will remain available for full basic illustrations until 3/15/2016.

· The old rates (6/13) will remain available only for numeric summary (draft) and revised illustrations until 4/15/2016.

Product Availability

The Choice series is not available in New York.

2. In an effort to further simplify our universal life product suite, the Lifetime option provided by the Protective Custom Choice UL product will be discontinued effective 2/15/2016 and the enhanced Protective Advantage Choice UL will become our flagship guaranteed universal life product for lifetime core protection.

This change has no impact on the current Protective Custom Choice UL 10 – 30 year options.

3. For the Indexed Choice UL product, the following updates are now available:

· Illustrated indexed interest rate is updated from 5.76% to 5.79% effective 2/15/2016.

· AG49 Regulation requirements include the following changes in the output:

i. Table of Historical S&P 500 Returns

ii. New indexed interest rates section with average, minimum, and maximum rates

iii. Alternate indexed interest rate scenario

iv. Landscape tabular detail

v. Rate credited to loan balance cannot exceed the lesser of the illustrated rate or the loan charge rate plus 1.00%.

February 8, 2016 v7.00.163

INDEXED ANNUITY:

Protective Life Insurance Company is excited to announce our newest asset builder and income solution, the Protective Asset Builder Fixed Indexed Annuity. This new product is available for sale beginning February 8, 2016.

The fixed interest crediting strategy guarantees to earn interest at the declared rate regardless of market performance. The four indexed interest crediting strategies: Point-to-Point, Tiered, Trigger, & 2-year Participation-Spread allows to benefit from the market’s upside potential while preserving the contract value during periods of negative performance.

Asset Builder 6 is approved in all states except: HI & NY.

Asset Builder 8 is approved in all states except: AK, HI, MO, NY, PA, UT, & VT.

January 5, 2016 v7.00.161 & v7.00.162

INDEXED ANNUITY:

Removed the Average Annual % Total for all (S&P and Net Rate of Return) from the illustration if the Benefit Election Date has been selected.

ADVANCED SALES TOOL:

The Tapestry software has been discontinued and will no longer be made available via WinFlex.

December 2, 2015 v7.00.160

GENERAL UPDATE:

The Internal Revenue Service (IRS) recently announced upcoming changes to the per diem limitations for periodic payments received under qualified long-term care insurance policies and certain life insurance policies which offer accelerated death benefits for chronic illness care. Under IRS code § 7702B(d)(4), the 2016 per diem limitation for periodic payments from these types of policies will increase to $340/day. This increase will allow access up to $10,200 of insureds policy’s death benefit each month through ExtendCare, a chronic illness protection rider.

November 16, 2015 v7.00.159

Maintenance Release

October 26, 2015 v7.00.158

UNIVERSAL LIFE / ALTERNATIVE TO TERM:

Updated rates for the Protective Custom Choice UL 10/15 initial level benefit periods of 10, 15, & 20 years:

a. Lower rates for Non-tobacco classes only (Select Preferred, Preferred, & Nontobacco)

b. 25 and 30 periods are not being repriced.

c. No changes are made to the lifetime rates.

Illustration and Quoting Systems (ELI and WinFlex)

· The new rates (10/15) will be available in the ELI and WinFlex illustration systems on 10/26/2015.

· The old rates (8/14) will remain available for full basic illustrations until 11/26/2015.

· The old rates (8/14) will remain available only for numeric summary (draft) and revised illustrations until 12/26/2015.

Product Availability

The Choice series is not available in New York.

September 25, 2015 v7.00.157

Indexed Annuity:

1. Effective 9/8/2015, the Income Builder product is now available for sale in District of Columbia (DC).

2. The Net Rate of Return no longer calculates post 10 years. Net Rate of Return is only calculated until the Benefit Election Date.

3. Roll-ups on SecurePay SE and Rising Income Benefit apply for 10 years, from the contract effective date.  There are no ‘deferral’ years based on index performance for either benefit.

4. A fix for being able to quote if there is no Benefit Election Date / No Rising Income Benefit Max Withdrawals.

September 25, 2015 v7.00.157

Indexed Annuity:

1. Effective 9/8/2015, the Income Builder product is now available for sale in District of Columbia (DC).

2. The Net Rate of Return no longer calculates post 10 years. Net Rate of Return is only calculated until the Benefit Election Date.

3. Roll-ups on SecurePay SE and Rising Income Benefit apply for 10 years, from the contract effective date.  There are no ‘deferral’ years based on index performance for either benefit.

4. A fix for being able to quote if there is no Benefit Election Date / No Rising Income Benefit Max Withdrawals.

August 31, 2015 v7.00.156

INDEXED ANNUITY:

1. Protective Life Insurance Company is excited to announce our newest retirement income solution, the Protective^® Income Builder Fixed Indexed Annuity. This new product will be available for sale beginning August 31, 2015, and will include the Rising Income Benefit, a new, protected lifetime income withdrawal benefit exclusively available with Protective Income Builder.

Protective Income Builder offers four interest crediting:

· Fixed: Amounts allocated to this strategy earn a fixed rate of interest that is credited daily, as determined in advance upon each contract anniversary.

· Indexed: Amounts allocated to these strategies earn interest in arrears based, in part, on the performance of the S&P 500^® Index (excludes dividends).

o Annual Point-to Point: Credits interest when market index performance is positive—up to a maximum of the interest rate cap in effect for that year.

o Annual Tiered Rate: Credits a base interest rate when market index performance is flat or positive and a performance interest rate enhancement when positive market index performance reaches a specified performance tier.

o Annual Trigger Rate: Credits a predetermined trigger interest rate when market index performance is flat or positive.

The Rising Income Benefit offers enhanced benefit base growth potential now with guaranteed increasing income for later:

· Roll-up Interest Multiplier of 200% – Offers the potential for annual benefit base growth by twice the amount of interest credited for the first 10 contract years or until benefit withdrawals begin (if earlier).

· Increasing annual withdrawals of 4.0% – 7.5% from ages 60 to 95 (based on attained age of the youngest contract owner).

· Guaranteed lifetime withdrawals even if contract value falls to zero.

· Available for 1.00% of the benefit base annually.

State Availability:

Protective Income Builder is available in all states except District of Columbia (DC) and New York (NY).

2. The Indexed Annuity II with MVA product is now available in states of IL, MA, & NV.

August 19, 2015 v7.00.155

Maintenance Release

June 29, 2015 v7.00.154

VARIABLE UNIVERSAL LIFE (VUL):

1. The following new funds are now available:

American Fund IS Asset Allocation Fund Class 2

American Fund IS Blue Chip Income and Growth Fund Class 2

American Fund IS Global Growth Fund Class 2

American Fund IS Global Small Capitalization Fund Class 2

American Fund IS Growth Fund Class 2

American Fund IS International Fund Class 2

American Fund IS New World Fund Class 2

Goldman Sachs VIT Core Fixed Income Fund Service Class

2. The portfolio model allocations have been updated for Aggressive Growth, Conservative Growth, Growth & Income, and Moderate Growth.

INDEXED ANNUITY:

3. Effective 6/22/2015, the Indexed Annuity II with MVA is now available for sale in states of CT, IN, LA, MN, NH, VA, WA, & WY.

FIXED and INDEXED ANNUITY:

4. The Secure II and Indexed (MVA/NY) Illustrations already have an Annuity Option section that displays the Anuitization value for Single Life with 10 Year Period Certain at the greater of age 70 or 10 years after issue (NAIC regulation).

The flexibility to select an age for the Annuitization value for these two products is now available under the Assumptions Tab of the illustration software. Both, Secure II and Indexed Annuity products require the policy to be inforce 1 year prior to Annuitization. There is no minimum Annuitization age. The maximum Annuitization age is Age 95 (based on the oldest owner).

GENERAL UDPATE:

5. For all the life products, the disclosure box in the output is now updated with following:

Not a Deposit	Not Insured By Any Federal Government Agency
No Bank or Credit Union Guarantee		Not FDIC/NCUA Insured	May Lose Value

6. Effective April 28, 2015, the Company Ratings page in the output for the life products has been updated for the Fitch Ratings to from “A+” to “A” (Strong, 6th highest of 22 ratings).

May 15, 2015 v7.00.153

Maintenance Release

May 1, 2015 v7.00.152

VARIABLE UNIVERSAL LIFE (VUL):

1. Effective 5/1/2015, the MFS Funds are no longer available.

2. The portfolio model allocations have been updated for Aggressive Growth, Conservative Growth, Growth & Income, and Moderate Growth.

3. Fund Expenses for few funds have been updated.

4. The Weighted Fund Expense Charge changes have been updated. The Total Weighted Average Annual Expense Charge was updated from 0.85%to 0.86%.

April 20, 2015 v7.00.151

The Indexed Annuity II with MVA is now available in states of DE, MD, & ME.

March 30, 2015 v7.00.150

VARIABLE UNIVERSAL LIFE (VUL):

1. Effective 4/1/2015, Investors Choice VUL will be available in state of California.

2. MFS VIT Investors Growth Stock Series Initial Class Shares has merged into MFS VIT II Massachusetts Investors Growth Stock Initial Class Shares.

3. The Model Portfolios effective 5/1/2015 are included in this version in order to allow illustrations using the updated model allocations. This will minimize the need for revised illustrations during the transition.

INDEXED ANNUITY:

4. The Indexed Annuity II with MVA is now available in states of DC, IA, NC, NM, OH, OK, RI, & SC. Please note that state of Iowa (IA) has not approved the 10 year product. Also, IA allows the following withdrawal charge percentage by contract year: 5-year (9-8-7-6-5%) and 7-year (9-8-7-6-5-4-3%).

March 18, 2015 v7.00.149

TERM:

Updated Protective One-Year Term (OYT) product to use Age Nearest instead of Age Last.

March 16, 2015 v7.00.148

INDEXED ANNUITY:

1. The Indexed Annuity II with MVA is now available in states of Florida and Mississippi.

TERM:

2. Introducing Protective One-Year Term (OYT) product. This is a single premium, non-participating, non-renewable, non-convertible term product.

The OYT product is approved in all states except AS, GU, & NY (approved in Puerto Rico).

March 2, 2015 v7.00.147

INDEXED ANNUITY:

1. The Indexed Annuity II with MVA is now available in the following states: AZ, AR, CA, GA, MT, ND, & TX.

The previous Indexed Annuity II 5, 7, & 10 series will no longer available in states where the MVA product series is approved

2. Effective 3/16/2015, Indexed Annuity II with MVA series will be available for sale in the state of Florida.

GENERAL UPDATE:

3. The Company Ratings page in the output for the life products has been updated for the Fitch Ratings to A+ (5th highest of 22 ratings).

February 9, 2015 v7.00.146

INDEXED ANNUITY:

1. Introducing Indexed Annuity II with MVA (Market Value Adjustment) series products.

Effective 2/9/2015, the previous Indexed Annuity II 5, 7, & 10 series will no longer be made available in states where the MVA product series is approved.

The Indexed Annuity II with MVA is available in the following states: AL, CO, HI, ID, KS, KY, MI, NE, SD, TN, WI, & WV.

2. Introducing Indexed Annuity NY series product.

Allows three interest crediting strategies: Annual Point-to-Point, Annual Trigger Rate and Fixed Option.

February 2, 2015 v7.00.145

Maintenance Release

December 15, 2014 v7.00.144

UNIVERSAL LIFE (UL):

A generic ExtendCare Rider Report is now available for the Advantage Choice UL and Investors Choice UL products.

Please note that a generic ExtendCare Rider Report will print when the Death Benefit equals the policy value plus the corridor amount. The corridor amount is determined as prescribed in section 7702 of the Internal Revenue Code, which stipulates that the cash value must not be greater than a designated percentage of the total death benefit for the policy to qualify as life insurance.

VARIABLE UNIVERSAL LIFE (VUL):

As of December 15, 2014, the Guaranteed Insurability Rider (GIR) will no longer be available with the Protective Premiere III variable universal life product (“Premiere III”). Guaranteed Insurability Riders issued with Premiere III policies before December 15, 2014, will not be affected by this change.

IMMEDIATE ANNUITY (SPIA):

A Date of Birth must be entered to run all SPIA quotes.

November 17, 2014 v7.00.143

GENERAL UPDATE:

Effective 11/17/2014, the ExtendCare Rider is now approved in State of Florida for the following products: Investors Choice VUL,

Custom Choice UL (Lifetime Guarantees only), Advantage Choice UL, & Indexed Choice UL

November 3, 2014 v7.00.142

Maintenance Release

September 12, 2014 v7.00.141

UNIVERSAL LIFE (UL):

Effective 9/15/2014, states of California (CA) and Florida (FL) have approved the Indexed Choice UL product.

August 26, 2014 v7.00.140

Maintenance Release

August 18, 2014 v7.00.139

ALTERNATIVE TO TERM / UNIVERSAL LIFE:

Updated rates for the Protective Custom Choice UL 8/14 initial level benefit periods of 10-30 years:

d. Non-tobacco classes only (Select Preferred, Preferred, & Nontobacco)

e. Band 1 increased 2% (100-249K)

f. Band 2 NO CHANGE (250-499K)

g. Band 3 decreased 1% (500-999K)

h. Band 4 decreased 2% (1M+)

i. No changes are made to the lifetime rates.

Illustration and Quoting Systems (ELI and WinFlex)

· The new rates (8/14) will be available in the ELI and WinFlex illustration systems on 8/18/2014.

· The old rates (9/13) will remain available for full basic illustrations until 9/14/2014.

· The old rates (9/13) will remain available only for numeric summary (draft) and revised illustrations until 10/13/2014.

Product Availability

The Choice series is not available in New York.

INDEXED ANNUITY:

For the Indexed Annuity Hypothetical Summary, the most recent 10-calendar-year historical performance is used for each subsequent 10-calendar-year period beyond the initial period.

The First Year percentage is calculated from the default starting index value of 1000 to the end of year 1.  Starting with year 11, it is calculated as the change from end of year 10 to end of year 11 and then repeats.  With this release, the logic is being changed to use the 1st year index rather than recalculating at year 11.

July 21, 2014 v7.00.137 & v7.00.138

VARIABLE UNIVERSAL LIFE:

1. Protective Life Insurance Company is excited to announce the newest addition to our lifetime protection product line, Protective Investors Choice VUL. This new variable universal life product offers your clients lifetime protection and flexible features along with the uncapped potential for cash-value accumulation to help meet unexpected needs. 

Protective Investors Choice VUL is approved in all states except: CA, NY, & American Territories.

GENERAL UPDATE:

3. Company Ratings page is now included in the illustration output of all the life products.

4. For the Select and Select Preferred class, the rated help information has been updated as follows:

Select Preferred and Preferred rate classifications with permanent or temporary flat extra ratings are allowed exclusively for aviation activity

or hazardous sport activities such as scuba diving, racing, skydiving or mountain climbing.  Flat extra ratings due to any other rating reason

are not allowed for Select Preferred or Preferred rate classifications. Table Ratings are not allowed for the selected class.

June 24, 2014 v7.00.136

Maintenance Release

June 16, 2014 v7.6.77

IMMEDIATE ANNUITY (SPIA):

1. Effective Monday, 6/16/2014, the SPIA product will use 9 crediting rates (factors) instead of 4 rates offered previously.

2. Lifetime Income Option (Life Only) is no longer offered.

UNIVERSAL LIFE (VUL):

3. IRR Report now includes the IRR using a specified interest rate when a specified rate is selected.

ADVANCED SALES CONCEPTS:

4. Maintenance for the IRA Wealth Transfer Concept.

May 1, 2014 v7.00.134

VARIABLE UNIVERSAL LIFE (VUL):

1. The Franklin Templeton Investments funds have been renamed:

Franklin Flex Cap Growth VIP Fund Class 2

Franklin Income VIP Fund Class 2

Franklin Mutual Shares VIP Fund Class 2

Franklin Rising Dividends VIP Fund Class 2

Franklin U.S. Government Securities VIP Fund Class 2

Franklin Small Mid Cap Growth VIP Fund Class 2

Franklin Small Cap Value Fund VIP Class 2

Templeton Developing Markets VIP Fund Class 2

Templeton Foreign VIP Fund Class 2

Templeton Global Bond VIP Fund Class 2

Templeton Growth VIP Fund Class 2

2. The Fund Expenses have been updated for few funds.

3. The Weighted Fund Expense Charge changes have been updated. The Total Weighted Average Annual Expense Charge did not change from 0.85%.

4. The Select Preferred Check List will no longer print with the illustration.

WHOLE LIFE:

5. Table 7 is now allowed.

UNIVERSAL LIFE (UL), VARIABLE UNIVERSAL LIFE (VUL) & WHOLE LIFE:

6. Select Preferred and Preferred Classes now allow Temporary Flats. Permanent and Temporary ratings are allowed for aviation activity or any hazardous sport activity, scuba diving, racing, skydiving & mountain climbing. No other rating reasons (i.e. driving, occupation, any medical disorder/disease, foreign travel/foreign residence, military activities).

March 31, 2014 v7.00.133

INDEXED ANNUITY:

The Protective Indexed Annuity II product is now approved for sale in state of Delaware (DE).

The Protective Indexed Annuity II product is approved in all states except: CT, NY, & American Territories.

March 17, 2014 v7.00.132

INDEXED ANNUITY:

Protective Life Insurance Company is excited to announce the newest addition to our annuity product line, Protective Indexed Annuity II.  This new fixed indexed annuity will be available for sale beginning March 17, 2014. We are also excited to introduce SecurePay SE, an optional protected lifetime income benefit exclusively available with Protective Indexed Annuity II. 

The indexed annuity offers the flexibility to allocate the initial deposit among three interest crediting strategies: Fixed interest, Annual Point-to-Point, and Annual Tiered Rate indexed interest crediting strategy.

Optional principal protection is also available.

The Protective Indexed Annuity II product is approved in all states except: CT, DE, NY, & American Territories.

The old Protective Indexed Annuity product will be available in all approved states until 3/31/2014. Starting 4/1/2014, the old product will be made available only in states of CT and DE.

February 4, 2014 v7.00.131

1. Effective 2/10/2014, State of Delaware (DE) has approved the Protective Indexed Choice UL product.
2. Maintenance Release.

January 17, 2014 v7.00.130

UNIVERSAL LIFE (UL):

The first year premium limit of $500,000 has been corrected to $1Million for the Protective Indexed Choice UL product.

INDEXED ANNUITY:

The output has been updated to reflect the S&P500 Index Performance based on most recent 10 calendar years - 2003 to 2013. There were no changes to the low and high scenarios.

VARIABLE UNIVERSAL LIFE (VUL):

Correction to some Fund Expense charges that were incorrectly transposed on the output. However, the Total Weighted Average Annual Expense Charge did not change from 0.85.

January 13, 2014 v7.00.129

UNIVERSAL LIFE (UL):

1. Protective Life Insurance Company is excited to announce the latest addition to the Choice Series line of guaranteed universal life insurance products, Protective Indexed Choice UL, will be available for sale beginning January 13, 2014. Protective Indexed Choice UL is an indexed universal life insurance policy that can provide lifetime protection, flexible features and potential cash-value accumulation which can help meet the needs for both today and tomorrow. With Protective Indexed Choice UL, the policy cash value can grow based on the positive performance of the S&P 500® Index, but without the risk of directly participating in the stock market.
   
   Policy Highlights:
   - Lapse protection up to lifetime on your death benefit
   - Potential to earn tax-deferred interest based on the performance of the S&P 500 Index
   - Low charge structure for income maximization
   - Accumulation Potential with Core Protection

State Approvals:

- Available in all states except CA, DE, FL, NY, AQ, & GU.

2. For the ExtendCare Rider, the IRS has posted the per diem limitations for 2014.  There is an increase to $330/day ($9,900/month).

January 2, 2014 – VER 7.00.128

UNIVERSAL LIFE (UL):

For the ProClassic UL product, the current credited interest rate has been changed from 3.50% to 3.30%.

December 16, 2013 – VER 7.00.127

WHOLE LIFE:

1. The Non-Par Whole Life 11/13 (For Conversion Only) product is now available in WinFlex. This conversion only product is approved in all states except NY, AQ, & GU (available in Puerto Rico).

VARIABLE UNIVERSAL LIFE (VUL):

2. In the VUL illustrations, the page header and footer now uses the more recent format and branding used in the UL illustrations

ADVANCED SALES CONCEPT:

3. Life Insurance in Retirement Planning (LIRP) 162 Bonus plan – new option now available for LIRP and Defined Objectives (VUL):

· LIRP 162 Bonus Plan for Pass-Through Business Owners (Executive Comp LIRP)

o illustrates using business profits to fund insurance protection and retirement income for owners of “pass-through” entities.

· LIRP 162 Bonus Plan for non-Owner:   options updated to differentiate non-owner clients

o Non-owner Employee – Single or Double Bonus

o Shareholder/Owner (C Corp) – Single or Double Bonus

November 4, 2013 – VER 7.00.126

Maintenance Release.

October 14, 2013 v7.00.125 (ELI 7.6.65)

VARIABLE UNIVERSAL LIFE:

The Weighted Fund Expense Charge changes for the 3^rd Quarter 2013 have been updated. The Total Weighted Average Annual Expense Charge did not change from 0.85%.

October 3, 2013 – v7.00.124 (ELI 7.6.64)

Issue with some of the Custom Concepts is now resolved.

September 5, 2013 – v7.00.123 (ELI 7.6.61)

Issue with the WinFlex Concepts not showing up in the list is now resolved.

August 30, 2013 - v7.00.122 (ELI 7.6.61)

UNIVERSAL LIFE:

1. We are pleased to introduce new, lower rates for the Protective Custom Choice UL 9/13 initial level benefit periods of 10-30 years. With this decrease across all non-tobacco age groups, Protective Custom Choice UL will be more competitively positioned for short-durations of 10 to 30 years. No changes will be made to the Protective Custom Choice UL lifetime rates.

We will automatically apply the new, lower rate on any policy issued for Protective Custom Choice UL 10-30 years beginning September 3, 2013.

Illustration and Quoting Systems (ELI and WinFlex)

· The new rates (9-13) will be available in the ELI and WinFlex illustration systems on 8/30/2013.

· The old rates (6-13) will remain available for full basic illustrations until 10/4/2013.

· The old rates (6-13) will remain available for numeric summary and revised illustrations until 11/2/2013. The old rates (6/13) will no longer be available as of 11/2/2013.

Product Availability

The Choice series is not available in New York.

We are also pleased to announce expanded illustration capabilities, available July 1, 2013:

With Custom Choice UL you are now able to illustrate lifetime coverage with guarantee periods ranging from age 75 to age 121. 

For Advantage Choice UL you are now able to illustrate lifetime coverage with guarantee periods ranging from age 75 to age 110.

These new lifetime guarantee options for the Choice series will enable you to better serve your client’s protection needs. Please submit an illustration with each Lifetime application.

2. For the Custom Choice UL 9/13 product, an optional Signature Page is now available under the Output Options Tab.

3. A new Single Pay for Level Period solve is now available for the Custom Choice UL 9/13 product under the Projection Type. This solve illustrates the required single premium for the selected duration.

4. We are also pleased to announce the Integration to LifeSpeed, available August 19, 2013, via an eApply button in WinFlex for the Protective Advantage Choice UL, Custom Choice UL (including 10-30) & ProClassic UL products. Using LifeSpeed streamlines the process by reducing the amount of paperwork necessary to submit an application by collecting the necessary information, verifying that it is in good order and then submitting to Protective Life’s TeleLife process.

ADVANCED SALES:

5. Coming soon - Gift for Life Concept for ProClassic UL 1/11.

6. Coming soon – Tapestry 2013.

August 19, 2013 - v7.00.121 (ELI 7.6.60)

We are pleased to announce the Integration to LifeSpeed, now available via an eApply button in WinFlex for the Protective Advantage Choice UL, Custom Choice UL (including 10-30) & ProClassic UL products. Using LifeSpeed streamlines the process by reducing the amount of paperwork necessary to submit an application by collecting the necessary information, verifying that it is in good order and then submitting to Protective Life’s TeleLife process.

July 15, 2013 - v7.00.119 & v7.00.120 (ELI 7.6.60)

INDEXED ANNUITY:

1. An optional report is now available on the Output Options Tab showing the custom S&P 500 Performance for the Non-Guaranteed Contract Summary.

July 1, 2013 - v7.00.118 (ELI 7.6.59)

UNIVERSAL LIFE:

1. Effective July 1, 2013, Protective Life has changed the current lifetime rates on our guaranteed UL products.

As a result of this re-price:

Protective Custom Choice UL 6/13 will stay competitively positioned for guaranteed lifetime coverage needs with affordable level pay premiums.

Protective Advantage Choice UL 6/13 level pay premiums may be higher, but will remain competitive in the GUL marketplace.

We are also pleased to announce expanded illustration capabilities, available July 1, 2013:

With Custom Choice UL 6/13 you will now be able to illustrate lifetime coverage with guarantee periods ranging from age 75 to age 121. 

For Advantage Choice UL 6/13 you will now be able to illustrate lifetime coverage with guarantee periods ranging from age 75 to age 110.

These new lifetime guarantee options for the Choice series will enable you to better serve your clients’ protection needs.

Please submit an illustration with each Lifetime application.

Illustration and Quoting Systems (ELI, WinFlex & TeleLife)

· The new rates will be available in the ELI and WinFlex illustration systems on 07/01/2013.

· The old rates will remain available for full basic illustrations until 07/29/2013.

· The old rates will remain available for numeric summary and revised illustrations until 09/30/2013. The old rates will no longer be available as of 09/30/2013.

Product Availability

The Choice series is not available in New York.

1. For the ProClassic UL product, the current credited interest rate has been changed from 4.00% to 3.50%.

2. Effective July 1, 2013, the Guaranteed Insurability Rider (GIR) will no longer be made available for the UL products.

June 18, 2013 - v7.00.117 (ELI 7.6.58)

FIXED ANNUITIES:

Market Value Adjustment (MVA) example has been added to the illustration for products with an MVA.

UNIVERSAL LIFE:

The Extend Care Report now correctly shows the Death Benefit being fully reduced with the monthly benefit amount.

June 4, 2013- v7.00.116 (ELI 7.6.57)

Maintenance Release

MAY 15, 2013

UNIVERSAL LIFE (UL):

Updated calculation for lump sum amounts being reduced in error for some Custom Choice UL and Advantage Choice UL quotes.

MAY 1, 2013

UNIVERSAL LIFE (UL):

1. Face amount decreases are now allowed on Custom Choice UL (No Solve option) and Advantage Choice UL (except for Lapse Protection Solve).

2. The Net Single Premium limit has been removed from the Survivor UL 1/13 product.

3. The following old products have been turned off: Secure- T 7/12 series, Secure-T 12/11 series, Protective Centennial G II UL 1/11, Protective Centennial G II Plus UL 1/1, Protective OneStep Life UL, Protective ModLife UL 1/1, Protective Survivor UL 6/12, & Protective Centennial Survivor G UL 11/10.

4. Please note that the above products were replaced on 12/17/2012 with Custom Choice UL 10 to 30, Custom Choice UL, Advantage Choice UL, & Survivor UL 1/13.

VARIABLE UNIVERSAL LIFE (VUL):

4.    The following VUL funds have been renamed:

Current	Renamed
Legg Mason ClearBridge Variable Mid Cap Core Portfolio Class II	ClearBridge Variable Mid Cap Core Portfolio Class II
Legg Mason ClearBridge Variable Small Cap Growth Portfolio Class II	ClearBridge Variable Small Cap Growth Portfolio Class II
Oppenheimer Global Securities Fund/VA	Oppenheimer Global Fund/VA
Invesco Van Kampen V.I. American Value Fund Series II Shares	Invesco V.I. American Value Fund Series II Shares
Invesco Van Kampen V.I. Comstock Fund Series I Shares	Invesco V.I. Comstock Fund Series I Shares
Invesco Van Kampen V.I. Equity and Income Fund Series II Shares	Invesco V.I. Equity and Income Fund Series II Shares
Invesco Van Kampen V.I. Growth and Income Fund Series I Shares	Invesco V.I. Growth and Income Fund Series I Shares
Invesco Van Kampen V.I. Mid Cap Growth Fund Series II Shares	Invesco V.I. Mid Cap Growth Fund Series II Shares

5.    The Fund Expenses for all the VUL funds have been updated.

6.    The Weighted Fund Expense Charge changes have been updated. The Total Weighted Average Annual Expense Charge changed from 0.84% to 0.85%.

INDEXED ANNUITY:

7.  As of 4/15/2013, the remaining states have now approved the product: CA, CT, DE, & FL.

ADVANCED SALES:

8.  Capital Transfer and Legacy Guard concepts have been updated for the estate tax rules enacted in the American Taxpayer Relief Act of 2012.

April 9, 2013

FIXED INDEXED ANNUITY:

1. Effective 4/15/2013, the Indexed Annuity product are now approved in state of CA, CT, DE, & FL.

UNIVERSAL LIFE:

2. The following old products have been extended to run Summary (Draft) or Revised Illustrations until 5/1/2013:

Secure- T 7/12 series

Secure-T 12/11 series (state of MD only)

Protective Centennial G II UL 1/11
Protective Centennial G II Plus UL 1/11

Protective OneStep Life UL
Protective ModLife UL 1/11

Protective Survivor UL 6/12

Protective Centennial Survivor G UL 11/10

Please note that the above products were replaced on 12/17/2012 with Custom Choice UL, Advantage Choice UL, & Survivor UL 1/13.

April 2, 2013

VARIABLE UNIVERSAL LIFE:

1. The Weighted Fund Expense Charge changes for the 1^st Quarter 2013 have been updated. The Total Weighted Average Annual Expense Charge did not change from 0.84%.

UNIVERSAL LIFE:

2. The Expense Disclosure Report is now available for the Custom Choice UL product.

3. The following old products will no longer be available after 4/7/2013 to run Summary (Draft) or Revised Illustrations:

Secure- T 7/12 series

Secure-T 12/11 series (state of MD only)

Protective Centennial G II UL 1/11
Protective Centennial G II Plus UL 1/11

Protective OneStep Life UL
Protective ModLife UL 1/11

Protective Survivor UL 6/12

Protective Centennial Survivor G UL 11/10

Please note that the above products were replaced on 12/17/2012 with Custom Choice UL, Advantage Choice UL, & Survivor UL 1/13.

March 18, 2013

INDEXED ANNUITY:

Introducing Protective Indexed Annuity with 5, 7, & 10 year surrender charge periods.

The indexed annuity offers the flexibility to allocate the initial deposit among three interest crediting strategies: Fixed interest, Annual Point-to-Point, and Annual Tiered Rate indexed interest crediting strategy.

Optional principal protection is also available.

The Indexed Annuity product is approved in all states except: CA, CT, DE, FL, NY, & American Territories.

March 4, 2013

UNIVERSAL LIFE:

1. The Income Provider Option (IPO) Graphic Chart is now included as a supplemental illustration showing the IPO benefits.

2. The Skip First Year Premium option (on the Policy Options Tab) is now available for the Custom Choice UL product. Please note that the Level Pay Projection Type does not currently allow the Lump Sum option.

3. For CCUL/ACUL/SUL 1-13 products, when solving for a face amount, the lump sum amount is no longer reduced.

4. The following old products have been extended to run Summary (Draft) and Revised Illustrations until 4/7/2013:

Secure- T 7/12 series

Secure-T 12/11 series (state of MD only)

Protective Centennial G II UL 1/11
Protective Centennial G II Plus UL 1/11

Protective OneStep Life UL
Protective ModLife UL 1/11

Protective Survivor UL 6/12

Protective Centennial Survivor G UL 11/10

Please note that the above products were replaced on 12/17/2012 with Custom Choice UL, Advantage Choice UL, & Survivor UL 1/13.

February 4, 2013

UNIVERSAL LIFE:

1. The Protective Custom Choice UL product now includes the following enhancements:

a. The Agent Page now shows additional information such as Target Premium, Commissionable Excess, MMGP, and 7-Pay.

b. The “Show Commission Info on Ledger” option under the Output Options Tab shows Target Premium, Commissionable Premium, and MEC information on the “Tabular Detail” page. The following format on the “Tabular Detail” page of the illustration output will now include:

CP $xx.xx CE$xx.xx TGT$xx.xx  MMGP$xx.xx  MEC$xx.xx

a. The output is now portrait when comparing up to 3 plans.

b. Lump Sum is no longer available for the Level Pay Solves for the guarantees periods10 to 30.

c. The minimum administrative premium of $60 will only apply to cases where the Single Premium does not achieve the desired lapse protection requested.

January 7, 2013

UNIVERSAL LIFE:

1. The Protective Custom Choice UL and Protective Advantage Choice UL products are now available in state of California (CA).

a. For the old products, Protective Centennial G II UL, Protective Centennial G II Plus UL and Protective Secure-T, effective 1/1/2013, only the Numeric Summary and Revised Illustrations is made available till 2/28/2013.

2. The minimum lapse protection duration is Age 100 for the Protective Custom Choice UL and Protective Advantage Choice UL products.

3. For the Protective Advantage Choice UL, the maximum lapse protection duration is Age 110.

SURVIVORSHIP UL (SUL) - PL only:

4. For the Protective Survivor UL 1/13, the maximum lapse protection duration is Age 110.

December 17, 2012

UNIVERSAL LIFE:

1. Introducing Protective Custom Choice UL which replaces Centennial G II UL and Secure-T products.

a. An enhanced ExtendCare Rider report is now available.

b. Please select “Agent Page” on the Output Options tab to create a page displaying the commissionable premium for Custom Choice UL

2. Introducing Protective Advantage Choice UL which replaces Centennial G II Plus UL product.

a. The ExtendCare Rider is now available for the Protective Advantage Choice UL product.

3. The Protective Custom Choice UL and Protective Advantage Choice UL products are available in all states except: CA, NY, AQ, & GU.

4. The old products, Protective Centennial G II UL, Protective Centennial G II Plus UL and Protective Secure-T will remain available for Full Illustrations until 12/31/2012. Starting 1/1/2013, only the Numeric Summary (Draft) and Revised Illustrations will be made available till 2/28/2013.

SURVIVORSHIP UL (SUL) - PL Only:

5. The Protective Survivor UL 1/13 is now available with updated rates in all states except: NY, AQ, & GU.

6. The Protective Survivor UL 6/12 rates will remain available for Full Illustrations until 12/31/2012. Starting 1/1/2013, only the Numeric Summary (Draft) and Revised Illustrations will be made available till 2/28/2013.

FIXED ANNUITY:

7. The output has been updated per recent guidelines proposed by NAIC.

GENERAL UPDATE:

8. For all the UL, SUL, SPWL, and VUL products, the Tax Compliance Section of the output has been revised.

9. Custom Cost Basis is now available on the Policy Options Tab under the 1035 Internal/External Exchange options.

December 3, 2012

UNIVERSAL LIFE:

Effective December 3, 2012, the Current Interest Rate has been updated for ProClassic UL 1/11 from 4.50% to 4.00%.

GENERAL UPDATE:

For all the UL, SUL, SPWL, TERM, and VUL products, Protective Life will not accept first year premiums greater than $500,000. Any questions, please contact your Protective Life Sales Representative or Sales Support Team at 1-877-778-3500, option 2.

November 1, 2012 – Ver 7.00.103

GENERAL UPDATE:

1. For all the Protective Life UL and VUL products, the total first contract year premiums of $500,000 or more must be reviewed and approved by the home office prior to submission. Please contact your Protective Life Sales Representative or Sales Support Team at 1-877-778-3500, option 2.

October 8, 2012 – Ver 7.00.102

VARIABLE UNIVERSAL LIFE (VUL) - PL Only:

For the VUL products, the Weighted Fund Expense Charge changes for the 3^rd Quarter 2012 have been updated. The Total Weighted Average Annual Expense Charge did not change from 0.84%.

September 27, 2012

For Variable Universal Life products, the Lord Abbett Capital Structure Portfolio fund is renamed to Lord Abbett Calibrated Dividend Growth Portfolio fund.

September 20, 2012

1. Effective 9/14/2012, the Children’s Term Rider (CTR) is now approved in Puerto Rico (PR).

August 20, 2012

Maintenance Release

August 13, 2012 v7.6.37

ALTERNATIVE to TERM:

1. Effective 8/13/2012, Secure-T 7/12 is now approved in state of New Jersey & Nevada.

a. The old rates will remain available for Numeric Summary (Draft) and Revised illustrations ONLY.

b. Continue to illustrate Secure-T 12/11 - 2011 rates” in state of Maryland (MD).

GENERAL UPDATE:

2. The Company Help has been updated with Products, Underwriting, Forms, Company, & Ratings information.

3. The Products and Underwriting information will now be displayed using the PDF files.

July 30, 2012 v7.6.37

ALTERNATIVE TO TERM - PL Only:

1. The PL Secure-T “7/12” series is now available for sale with updated rates:

a. Lower premiums for all Non-Tobacco classes. Same or increased premiums for some cells for Tobacco classes.

b. PL Secure-T 7/12 is available in all states except: AQ, GU, MD, NJ, NV, & NY.

Illustration System Rules:

a. The new rates are available in the WinFlex starting 7/30/2012.

b. The old rates will remain available for Revised and Numeric Summary (draft) ONLY.

c. If a state has not approved the new rates at the time of launch, the old product and rates will be effective until the new rates are approved and made available.

GENERAL UPDATE:

2. The Underwriting Guide has been updated with the following:

a. Updated Blood Pressure and Cholesterol sections for the Underwriting Criteria for under and over Age 70.

b. Build Charts.

c. Financial Underwriting.

July 13, 2012

SURVIVORSHIP UL:

1. The Protective Survivor UL 6/12 is now approved in: MA, MD, MT, NJ, NV, OR, PA, PR, & TX.

2. The old Centennial Survivor G UL rates remain available for numeric summary (draft) and revised illustrations for the above approved states until 8/13/2012.

VARIABLE UNIVERSAL LIFE (VUL) - PL Only:

3. For the VUL products, the Weighted Fund Expense Charge changes for the 2nd Quarter 2012 have been updated. The Total Weighted Average Annual Expense Charge did not change from 0.84%.

GENERAL UPDATE:

4. For all the Protective Life UL and VUL products, the total first contract year premiums of $1 million or more must be reviewed and approved by the home office prior to submission. Please contact your Protective Life Sales Representative or Sales Support Team at 1-877-778-3500, option 2.

ADVANCE SALES:

5. The Extended Care Rider (ECR) is now available on the Capital Transfer and Legacy Guard concepts. ECR is already available on the other Life Concepts.

June 28, 2012

Maintenance Release

June 26, 2012

SURVIVORSHIP UL:

1. Effective June 25, 2012, Protective Survivor UL 6/12 will replace the Protective Centennial Survivor G UL product. Our new Protective Survivor UL 6/12 rates have decreased by as much as 25% in a variety of issue ages, rate classes and premium funding scenarios. It offers highly competitive premiums in the following scenarios:

· Level premiums to age 105

· Modest 1035 exchanges

· Single-pays with guarantees to age 90

a. The Protective Survivor UL 6/12 is approved in all states except: CA, MD, MA, MT, NJ, NV, NY, OR, PA, PR, TX, & VT.

b. The old Centennial Survivor G UL rates remain available for numeric summary (draft) and revised illustrations for all approved states until 7/27/2012. States will be added as they are approved.

UNIVERSAL LIFE (UL):

2. Effective June 25, 2012, the Current Interest Rate have been updated for the following products:

a. ProClassic UL 1-11 = 4.50%

b. ProClassic NY UL 7-12 = 4.50% (the NY product is available under Protective Life & Annuity)

c. Centennial G II Plus UL1-11 = 4.80%

3. Effective June 25, 2012, Protective Life & Annuity makes modest increases to the current rates to the ProClassic NY UL 7/12 product.

· The new rates will be available in the WinFlex illustration systems on 6/25/2012.

· The old rates will remain available for basic illustrations until 7/2/2012.

· The old rates will remain available for numeric summary (draft) and revised illustrations until 8/6/12.

· The old rates will no longer be available in WinFlex on 8/7/2012. Requests for revised illustrations must be sent to the home office.

4. The Specified Interest Rate must be 0.01% greater than the Guaranteed Interest Rate but cannot be equal. This limit is no longer required and is now removed to allow input of a Specified Interest Rate equal the Guaranteed Interest Rate.

FIXED ANNUITY:

5. The “ProSaver Secure II with MBG Option” product allowing the Principal Protection Option is now available for sale in all states except MN and American Territories.

ENHANCEMENTS:

The Help Tip for the Insurance Test on the Policy Options Tab has been updated explaining Guideline Premium Test (GPT) and Cash Value Accumulation Test (CVAT) options.

May 31, 2012 – Ver 7.00.92

Maintenance Release

May 1, 2012 – v7.00.91

VARIABLE UNIVERSAL LIFE (VUL):

1. Fund Updates:

a. The following new funds are now available for app signed date on/or after 5/1/2012:

i. Invesco V.I. International Growth II

ii. Invesco V.I. Global Real Estate II

iii. Invesco V.I. Small Cap Equity II

iv. MFS VIT Emerging Markets Equity Portfolio

v. MFS VIT International Value Portfolio

vi. PIMCO VIT All Asset Advisor

vii. Templeton Developing Markets Securities

b. The following funds are no longer available for app signed date on/or after 5/1/2012:

i. American Funds Asset Allocation

ii. Goldman Sachs VIT Large Cap Value Fund Service Class

iii. Lord Abbett Series Growth and Income Portfolio

iv. Lord Abbett Series International Opportunities Portfolio

v. UIF Global Real Estate Portfolio

c. The following funds have been renamed:

i. Lord Abbett Mid Cap Value Portfolio renamed to Lord Abbett Mid Cap Stock Portfolio.

ii. Effective 7/15/2012, Invesco Van Kampen V.I. Mid Cap Value Fund will be renamed to Invesco Van Kampen V.I. American Value Fund.

d. Model Portfolios updated due to the above fund updates: Aggressive Growth, Growth & Income, Moderate Growth, & Conservative Growth.

2. For all the Protective Life VUL products, the Fund Expenses, and Weighted Fund Expense Charge changes have been updated effective 5/1/2012. The Total Weighted Average Annual Expense Charge has been updated from 0.83% to 0.84%.

3. VUL illustrations now show a web address for product and fund prospectus on the Cover Page and at the end of listing of funds. The web links are clickable in a PDF.

GENERAL UPDATES:

4. The new company logo is now used throughout the illustration output.

APRIL 13, 2012 v7.00.90

VARIABLE UNIVERSAL LIFE (VUL):

1. For all the Protective Life VUL products, the Fund Expenses and Weighted Fund Expense Charge changes have been updated. The Total Weighted Average Annual Expense Charge has been updated from 0.82% to 0.83%.

UNIVERSAL LIFE (UL):

2. Update to the Enhanced Cash Surrender Value Rider (ECSVR) description. The termination year for the rider will no longer print on the output. The output now displays the following note: This rider adjusts the cash surrender values upon full surrender by reducing the surrender charges, based on a modification factor, as long as certain conditions are met. The modification factor used to reduce the surrender charges is greater than zero during the first 14 policy years.

March 19, 2012 v7.00.89

ALTERNATIVE to TERM:

1. Effective 3/19/2012, Secure-T and Secure-T 1/11 series will not be made available for Revised and Draft (Summary) illustrations since Secure-T 12/11 is now approved in all states (not filed in NY). Please continue to quote Secure-T 12/11 rates.

February 23, 2012 v7.00.88

ALTERNATIVE to TERM:

1. Effective 2/27/2012, PL Secure-T 12/11 series is now approved in state of Nevada (NV).

a. This is the final state approval for the Secure-T 12/11 rates (not filed in NY).

VARIABLE UNIVERSAL LIFE (VUL):

2. Effective 2/27/2012, Premiere III VUL and Premiere III Xpress VUL products are approved in state of Pennsylvania (PA). The Special Buyers Version (SBV) is not approved in PA.

ADVANCE SALES CONCEPTS:

3. Introducing Section 162 Bonus Plan concept.

a. The above report is available on the Output Options Tab under the LIRP report.

b. Available with ProClassic 1/11 UL and Premiere III VUL products.

February 6, 2012 v7.00.87

ALTERNATIVE to TERM:

1. Effective 2/6/2012, Secure-T 12/11 is now approved in state of Oregon (OR).

c. The old rates will remain available for Numeric Summary (Draft) and Revised illustrations ONLY.

d. The old Secure-T (2010) series will be removed from the system on 3/19/2012.

e. Summary of State Approvals:

i. Secure-T 12/11 is approved in all states except NV, NY, AQ, & GU.

ii. Continue to illustrate Secure-T “1/11 “- 2011 rates” in state of Nevada (NV).

January 13, 2012 v7.00.86

VARIABLE UNIVERSAL LIFE (VUL) - PL Only:

For all the Protective Life VUL products, the Weighted Fund Expense Charge changes for the 4^th Quarter 2011 have been updated. The Total Weighted Average Annual Expense Charge did not change from 0.82%.

December 12, 2011 v7.00.84

ALTERNATIVE to TERM:

1. The PL Secure-T “12/11” series is now available for sale with updated rates:

1. Lower premiums rates in most cells. Some cells have been cut as much as 20%.
2. PL Secure-T 12/11 is available in all states except: NV, NY, OR, AQ, & GU.

· Secure-T (2010) is still available in State of Oregon (OR).

· Secure-T 1/11 is still available in State of Nevada (NV).

Illustration System Rules:

a. The new rates are available in the ELI illustration system starting 12/12/2011.

b. The old rates will remain available for Numeric Summary ONLY.

c. If a state has not approved the new rates at the time of launch, the old product and rates will be effective until the new rates are approved and made available.

ADVANCE SALES CONCEPTS:

2. Introducing Gift for Life concept.

a. You can provide a “Gift for Life” to your grandchildren with a Protective Life Premiere III variable universal life insurance policy. Such a gift can help provide a lifetime of benefits in the form of permanent insurance coverage and tax-deferred cash value growth potential. In the future, the grandchild will be able to access policy cash values via loans and withdrawals on a tax-advantaged basis.

3. Capital Transfer and Legacy Guard Concepts now offers:

a. Option to illustrate Double Estate-Tax Exclusion for spouses.

b. Reformatted table footnotes for readability.

c. Allows illustrating of Lapse Protection to Ages 100, 105, 110, & 121.

GENERAL UPDATES:

4. For the State of Delaware (DE), disclosure regarding The Civil Union and Equality Act of 2011 (Delaware) is now included on the output for all products.

November 18, 2011 – v7.00.83

Maintenance Release.

October 1, 2011 – v7.00.82

UNIVERSAL LIFE (UL):

1. State of Illinois (IL) has approved the TIADB endorsement for all Protective Life UL products.

September 7, 2011 – v7.00.81

UNIVERSAL LIFE (UL):

1. Introducing IRR on Death Benefit Compare Report for OneStep Life UL product. This report allows comparing Internal Rate of Return on the Death Benefit between 2 guaranteed products: OneStep Life and Protective Centennial G II UL 1/11. To run a Full or a Supplemental Report, go to the Output Options Tab.

2. Update to the ExtendCare Report for Protective Centennial G II UL 1-11 product by allowing number of years that the report should illustrate the rider payment. Go to the Riders Tab for the ExtendCare Rider and select Payment Duration.

VARIABLE UNIVERSAL LIFE (VUL):

3. The Premiere III Xpress product is now available in WinFlex.

Premiere III Xpress, a simplified issue program which allows eligible candidates to purchase a Premiere III variable universal life (VUL) insurance policy without a full medical exam. With this quick and easy underwriting process, a decision will be made within just 72 hours after all requirements are received.

Premiere III Xpress also offers an optional Disability Benefit Rider, and includes Protective Life’s innovative Defined Objectives program, a no-cost monitoring and review service that helps VUL customers stay on track to meet long-term goals.

4. Updated Fund Expense Charges for the Goldman Sachs funds.

ALTERNATIVE TO TERM:

5. IRR Report is now available for the Secure-T 1/11 product. To select an IRR Report, go to the Output Options Tab.

FIXED ANNUITY:

6. As of 9/7/2011, the Guaranteed Minimum Interest Rate for all the Fixed Annuity products is 1.00%.

SURVIVOR TERM:

7. Table 7 is now available for the Protective Survivor Term product.

GENERAL UPDATE:

8. For the State of Illinois (IL), disclosure regarding Religious Freedom Protection and Civil Union Act Illinois is now included on the output for all products.

August 5, 2011 – v7.00.80

1. Maintenance Release.

July 12, 2011 v7.6.15

VARIABLE UNIVERSAL LIFE (VUL):

1. For all the Protective Life VUL products, the Weighted Fund Expense Charge changes for the 2^nd Quarter 2011 have been updated. The Total Weighted Average Annual Expense Charge did not change from 0.83%.

June 27, 2011 v7.6.12

UNIVERSAL LIFE (UL):

1. Introducing Protective OneStep Life product with initial premiums that are 25% less than traditional UL* with lifetime guarantees and flexibility.

a. PL OneStep Life is approved in all states except NY, AQ, and GU.

*Premium savings in policy years 1-5 based on underwriting class compared to other guaranteed UL product options.

May 31, 2011 v7.6.11

UNIVERSAL LIFE (UL):

1. Please note the reduction in the Current Interest Rate from 5.40% to 4.75% for the ProClassic UL 1/11 product.

2. Effective 5/30/2011, the ExtendCare Rider is now approved in state of Illinois (IL) for the Centennial G II UL 1/11 product.

3. Effective 5/30/2011, the CIADB Rider is now approved in state of Illinois (IL) for the ProClassic UL 1/11 product.

May 11, 2011 – Ver 7.00.76

1. Maintenance Release.

May 2, 2011 – Ver 7.00.75

VARIABLE UNIVERSAL LIFE (VUL):

1. For all the Protective Life VUL products, the Fund Expenses and Weighted Fund Expense Charge changes have been updated. The Total Weighted Average Annual Expense Charge has been updated from 0.84% to 0.83%.

2. The following fund has merged (Effective May 2, any values invested in the merging funds will be reallocated to the new fund): Invesco Van Kampen V.I. Government Fund into the Invesco V.I. Government Securities Fund.

UNIVERSAL LIFE (UL):

3. Introducing IRR on Death Benefit Compare Report for ModLife UL product. This report allows comparing Internal Rate of Return on the Death Benefit between 3 guaranteed products: ModLife 25, ModLife 50 and PL-Centennial G II 1-11. To run a Full or a Supplemental Report, go to the Output Options Tab in WinFlex.

4. The Centennial G II Series, and ModLife UL products now allow an option to select the “Initial Planned Premium” for the Disability Benefit Rider (DBR). Please note that when selecting the Initial Planned Premium option, the calculated DBR Monthly Benefit Amount only covers the initial premium. Any change to the premium outlay is not covered by the DBR Monthly Benefit Amount.

April 1, 2011 – Ver 7.00.74

TERM:

1. Effective 3/28/2011, Secure-T 1/11 is now approved in states of MA, PA, PR, & TX.

f. The old rates will remain available for Numeric Summary (Draft) and Full Revised illustrations ONLY.

g. The Term Income Provider product will not be available for sale in the states where Secure-T 1/11 is already approved. Only Numeric Summary (Draft) and Full Revised Illustration will be made available.

h. Summary of State Approvals:

iii. Secure-T 1/11 is approved in all states except NY, OR, & American Territories (PR has approved Secure-T 1/11).

iv. Continue to illustrate Secure-T “old 2010 rates” in state of Oregon (OR).

v. ValueChoice Term is no longer available for sale.

VARIABLE UNIVERSAL LIFE (VUL):

2. For all the Protective Life VUL products, the Weighted Fund Expense Charge changes for the 1^st Quarter 2011 have been updated. The Total Weighted Average Annual Expense Charge has been updated from 0.83% to 0.84%.

ADVANCED SALES:

3. Tapestry 2011 is now available in WinFlex.

i. Users will have to install an updated version of WinFlex and Tapestry.

ii. Please logon to www.protectiveproducer.com or www.protectiveadvisor.com for more information.

March 28, 2011 – Ver 7.00.73

TERM:

1. Updated rates for Secure-T 1/11 are now available in states of MA, PA, PR, & TX.

a. The old rates will remain available for Numeric Summary (Draft) and Revised illustrations ONLY.

b. The Income Provider Option (IPO) available on Secure-T 1/11 product replaces the Term Income Provider product. The Term Income Provider product will not be available for sale in the states where Secure-T 1/11 is approved. Only Numeric Summary (DRAFT) and Revised Illustration will be made available in the above states.

c. The ValueChoice Term Series will no longer be available for sale.

March 11, 2011 – Ver 7.00.72

1. Maintenance Release.

February 18, 2011 v7.00.71

TERM:

1. The Secure-T 1/11 is now approved in the following states: CT, KT, MD, MN, MS, NJ, & VT

2. Effective 2/28/2011, Secure-T 1/11 will be made available in state of Nevada (NV).

d. The old rates will remain available for Numeric Summary (Draft) and Revised illustrations ONLY.

e. The Term Income Provider product will not be available for sale in the states where Secure-T 1/11 is already approved. Only Numeric Summary (DRAFT) and Revised Illustration will be made available in the above states.

f. Summary of State Approvals for Secure-T 1/11:

i. Approved in all states except:  MA, NY, OR, PA, TX, & American Territories.

ii. Continue to illustrate Secure-T “old rates” in OR & TX.

iii. Continue to illustrate ValueChoice Term in MA, PA, & PR (since Secure-T “old” is still not approved).

iv. PL products are not available in NY, AQ, and GU.

UL:

3. Effective 2/28/2011, ProClassic 1/11 product will be made available in state of Maryland (MD).

a. The new rates will be available in the WinFlex Illustration system starting 2/28/2011.

b. The old rates will remain available in state of MD for full basic illustrations until 4/8/2011.

c. The old rates will remain available for Summary (DRAFT) and Revised Illustrations until 04/15/2011.

4. For the ProClassic UL products, the “Initial Planned Premium” option is now available for the Disability Benefit Rider (DBR). Please note that when selecting the “Initial Planned Premium” option, the calculated DBR Monthly Benefit Amount only covers the initial premium. Any further changes to the premium are not covered by the DBR Monthly Benefit Amount.

January 31, 2011 v7.00.69 & v7.00.70

TERM:

1. The Secure-T 1/11 is now available for sale with updated rates:

• No changes to Term periods 25 and 30.
• Secure-T 1/11 is available in all states except: CT, KY, MD, MA, MN, MS, NJ, NV, NY, OR, PA, TX, VT, & American Territories.
• The Income Provider Option (IPO) is now available on Secure-T 1/11 product.

a. IPO for Secure-T 1/11 is approved in all states except NY.

• The Internal and External 1035 option is now available on the Secure-T 1/11 product.
• Note the following limit on rated cases will apply only on repriced Secure-T 1-11: Maximum issue ages for substandard classes Table 5 and greater is the lesser of age 65 or the standard maximum issue age.

Illustration System Rules:

i. The new rates are available in the WinFlex illustration system starting 1/31/2011.

ii. The old rates will remain available for Summary (Draft) and Revised illustrations ONLY.

iii. If a state has not approved the new rates at the time of launch, the old product and rates will be effective until the new rates are approved and made available.

UL / TERM / VUL:

2. An updated Underwriting Guide is now available on Agent’s Website with the following updates:

i. Single Underwriting Guide between all our companies.

ii. All companies will use the Protective’s Age and Amount medical requirements.

iii. All companies will use the WCL/PLAIC Inspection report limits: (IR Requirement: Inspection will be required at amounts $1,500,000 & up, or over age 75 at all face amounts.).

iv. All companies will require MVR’s at ages 18-29 and over age 70 for all face amounts; at all other ages, MVR’s will be required at $500,000 and up.

v. Updated riders.

vi. Updated/consolidated contact information on the back cover page.

January 17, 2011 – ver 7.00.67 and 7.00.68

UNIVERSAL LIFE (UL):

1. The following products are now available for sale with updated rates:

• Centennial G II 1/11 (available in all states except: NY, AQ, & GU).
• Centennial G II PLUS 1/11 (available in all states except: NY, AQ, & GU).
• ProClassic UL 1/11 (available in all states except: MD, NY, AQ, & GU).
• ModLife UL 1/11 (available in all states except: NY, AQ, & GU).

Illustration System Rules:

· The new rates are available in the WinFlex starting 1/17/2011.

· The old rates will remain available for full basic illustrations until 02/28/2011.

· The old rates will remain available for numeric summary (Draft) and full revised illustrations until 04/18/2011.

· The old rates will no longer be available in the systems on 04/18/2011.

· If a state has not approved the new rates at the time of launch, the old product and rates will be effective until the new rates are approved and made available.

2. Introducing ExtendCare – Accelerated Death Benefit Rider.

· Available on the Centennial G II UL 1/11 product.

· ExtendCare Rider is approved for Centennial G II UL 1/11 in all states except: CA, CT, FL, IL, NY, AQ, & GU.

3. The IRR on Death Benefit Report now shows additional ages of 100 and 121.

November 15, 2010 – Ver 7.00.66

UNIVERSAL LIFE (UL):

1. The PL-Centennial Survivor G 11/10 survivorship product is now available for sale with updated rates for all ages, genders, and premium scenarios.

a. The PL-Centennial Survivor G 11/10 product is available in all states except: NY and PR.

b. The repriced survivorship product now allows Table 7 (G).

c. Business Transition Rules (No exceptions will be made to the following business rules.).

i. All applications received prior to 1/3/2011 will be processed according to the accompanying illustration.

ii. All applications received on 1/3/2011 and later will be processed using the new rates.

iii. Applications for conversions will be the same as the business transition rules listed above.

d. Illustration System

i. The new rates are available in the WinFlex illustration system starting 11/15/2010.

ii. The previous PL-Centennial Survivor G 11/09 product will allow the following illustrations:

iii. 11/15/2010 to 1/3/2011 – Allow Full, Revised, & Summary Illustrations (Draft).

iv. After 1/3/2011 only Revised and Summary Illustrations (Draft) will be allowed.

TERM:

2. For the Secure-T product, the “Planned Premium” label in the user interface has been updated to “Initial Planned Premium” for the Disability Benefit Rider (DBR). Please note that when selecting the Initial Planned Premium option, the calculated DBR Monthly Benefit Amount only covers the initial premium. Any change to the premium outlay post term period is not covered by the DBR Monthly Benefit Amount.

ADVANCE SALES:

3. The IRA Multi-Generation Concept has been updated to also allow illustrating an IRA for a Spouse.

4. The ROSCO rider is now allowed with the Premium Financing Concept.

ENHANCEMENT:

5. After running an illustration, The Policy Information under the View Menu now shows the Target premium in addition to the information already available such as: MEC Info, MEC Premium Limit, Commissionable Premium, Guideline Level Premium, and Minimum Premium.

November 8, 2010 – Ver 7.00.65

Universal Life (UL):

1. The Income Provider Option is now approved in the state of California (CA).

October 15, 2010 – Ver 7.00.64

ADVANCE SALES:

1. Introducing Spousal Roth IRA Conversion Strategy that can help you manage the taxation associated with converting a Traditional IRA to Roth IRA. The Spousal Roth IRA Conversion Strategy shows you how to use the death benefit features of life insurance to ease the conversion to a Roth IRA and create a powerful legacy for your loved ones.

a. This concept is available under the Custom Concept Tab for the Centennial G II UL 8/09 product.

2. The Policy Review Concept has been updated with the following enhancements:

a. Comparison Table now has improved readability and flow of information.

b. “Premium Remaining” now excludes 1035 rollover into the new policy.

3. The IRA-Multi-Generation Concept now applies “Stretch” payout assumption for life insurance benefits withdrawn over lifetime of the first generation heirs under the “proposed” plan.

VARIABLE UNIVERSAL LIFE (VUL):

4. For all the Protective Life VUL products, the Weighted Fund Expense Charge changes for the 3^rd Quarter 2010 have been updated. The Total Weighted Average Annual Expense Charge has been updated from 0.82% to 0.83%.

FIXED ANNUITY:

5. State of Minnesota (MN) has now approved the ProSaver Secure II product.

ENHANCEMENTS:

6. Illustration Software is now updated to use the Microsoft .Net Framework version 3.5.

7. The “Show Commission Info on Ledger” option under the Assumptions Tab shows Commissionable Premium (CP), Commissionable Excess (CE), Target Premium (TGT), and Guideline (GAP, GSP, & MEC) information on the “Tabular Detail” page of the illustration output for PL and WCL in the following format:

CP $xx.xx CE$xx.xx TGT$xx.xx  MMGP$xx.xx  GAP$xx.xx  GSP$xx.xx  MEC$xx.xx

October 11, 2010 – Ver 7.00.63

Term:

1. Secure-T product is now approved in the State of California (CA).

a. ValueChoice Term Series will not be available in state of CA starting 10/11/2010. A Numeric Summary (DRAFT) will remain available for pending cases.

Universal Life (UL):

2. The Income Provider Option is now approved in the states of CT, GA, MD, MS, NJ, NV, PR, TX, VI, and VT.

September 3, 2010 – Ver 7.00.62

1. Maintenance Release Only.

August 31, 2010 – Ver 7.00.61

Fixed Annuity:

1. Effective August 31, 2010, the 4-year guaranteed period will no longer be offered with the Protective Life FutureSaver II Fixed Annuity. Guaranteed periods of 5-10 years will continue to be offered for applications written on or after this date.

2. Effective 9/8/2010, the Guaranteed Minimum Interest Rate for the ProSaver Secure II product will change from 1.50% to 1.10%.

August 19, 2010 – Ver 7.00.60

Universal Life (UL):

1. Income Provider Option now includes a Monthly option in addition to an Annual option that allows a guaranteed monthly or annual income stream for the death benefit payout.

Premium Financing Concept:

2. Introducing Premium Financing Concept. This concept is now available under the Custom Concept Tab for the ProClassic UL product.

a. Premium Financing is a concept which involves borrowing funds to pay all or some of the premiums for a life insurance policy. This concept is designed for your sophisticated, high-net worth clients who have skilled tax and legal advisors and wish to finance their life insurance premiums with little or no out-of-pocket costs.

August 9, 2010 – Ver 7.00.59

Universal Life (UL):

3. Introducing Income Provider Option (Form UL-E35)

Available on ProClassic, Centennial G II 8/09, and Centennial G II 8/09 PLUS products.

May not be available in all states. State variations may apply.

This optional endorsement allows the policy owner to select a guaranteed monthly or annual income stream for the death benefit payout.

• Available at no additional cost and only at policy issue.
• Installment payments available monthly, annually or annually on a specific day (e.g. birthday, Christmas).
• Installment Period: 1-30 years.
• All installment payments must be equal.
• Initial lump-sum payment also available.
• Applies to base death benefit only. Rider death benefit amounts cannot be paid using this option.
• Death benefit schedule may be changed or single lump-sum option may be selected only while policy is in force. Single lump-sum payment will be equal to the policy face amount.
• With this endorsement, a discount factor will be used to determine the policy death benefit and initial face amount.
• Initial lump-sum and installment amounts will be adjusted when policy changes are made.

Term:

4. As of 8/16/2010, Secure-T product will be made available in the State of Maryland (MD).

a. ValueChoice Term Series will not be available in state of MD starting 8/16/2010. A Numeric Summary (DRAFT) will remain available for pending cases.

Fixed Annuity:

5. Effective August 9, 2010, the 3-year guaranteed period will no longer be offered with the Protective Life FutureSaver II Fixed Annuity. Guaranteed periods of 4-10 years will continue to be offered for applications written on or after this date.

July 30, 2010 – Ver 7.00.58

Fixed Annuity:

1. As of 8/3/2010, the Guaranteed Minimum Interest Rate for the ProSaver Secure II product will change from 2.00% to 1.50%.

July 12, 2010 – Ver 7.00.57

Universal Life (UL):

1. Mod 25 and Mod 50 Solves are now available for the ModLife UL product.

2. IRA Wealth Transfer Concept is now available under the Custom Concept Tab for the ModLife UL product.

Term:

3. “Show Modal Premiums” option is now available for the Secure-T product on the Policy Options Tab. This option will show modal premiums on the output.

4. “Print Customer Letter” option is now available for the Secure-T product on the Output Options Tab. This option shows a cover letter on the output directing the customer to review the attached illustration for full details regarding the policy.

Variable Universal Life (VUL):

5. For all the VUL products, the Weighted Fund Expense Charge changes for the 2^nd Quarter 2010 have been updated. However, the Total Weighted Average Annual Expense Charge of 0.82% did not change.

June 28, 2010 – Ver 7.00.56

Universal Life (UL):

1. As of 6/28/2010, Protective Secure-T product is approved in the States of Nevada (NV) and Texas (TX).

2. As of 7/5/2010, the Chronic Illness Accelerated Death Benefit Rider (CI-ADB) and Terminal Illness Accelerated Death Benefit (TIADB) endorsement for the ProClassic UL product is now approved in states of MA, PA, TX, & WA.

June 9, 2010 – Ver 7.00.55

Universal Life (UL):

1. As of 6/14/2010, Protective Secure-T product will be made available in the State of New Jersey (NJ).

2. As of 6/14/2010, Protective ModLife UL product will be made available in State of Maryland (MD).

3. As of 6/14/2010, the Cash Value Accumulation Test (CVAT) will be made available in State of Maryland (MD) for the Centennial G II 8/09 UL product.

June 1, 2010 – Ver 7.00.54

Universal Life (UL):

1. Introducing Protective Secure-T product.

a. Protective Secure-T is an affordably-priced universal life insurance product which can provide a guaranteed death benefit for level-premium periods of 10, 15, 20, 25 or 30 years. The guaranteed period can be extended beyond the initial level-premium period up to the lifetime of the insured.

b. The Secure-T product is available in all states except: CA, MD, MA, NY, NJ, NV, PA, TX, & American Territories.

c. The Secure-T product replaces the ValueChoice Term Series.

2. State of Texas (TX) has approved the ModLife UL product.

3. As of 5/24/2010, state of Nevada (NV) has approved the ModLife UL product.

4. The Chronic Illness Accelerated Death Benefit Rider (CI-ADB) for the ProClassic UL product is now approved in states of CO, HI, MD, MI, MN, NH, NC, OH, PR, TN, & VA.

Variable Universal Life (VUL):

5. The following changes to funds are now available:

a. Rename Funds: The following fund names have been updated: Invesco Van Kampen V.I. Comstock Fund Class 1, Invesco Van Kampen V.I. Government Fund Class II, Invesco Van Kampen V.I. Growth and Income Fund Class I, Invesco Van Kampen V.I. Equity and Income Fund Class II, Invesco Van Kampen V.I. Global Tactical Asset Allocation Fund Class II, Invesco Van Kampen V.I. Mid Cap Growth Fund Class II, and Invesco Van Kampen V.I. Mid Cap Value Class II.

b. New Fund Managers: The funds which were previously under the Van Kampen Asset Management Inc. fund manager are now managed by the Invesco Advisers, Inc.

May 6, 2010 – Ver 7.00.53

1. As of 5/10/2010, state of OR and VT has approved CVAT for the Centennial G II 8/09 UL product.

2. The Split Dollar WinFlex Concept is now available.

3. The Supplemental Retirement Plan WinFlex Concept is now available.

May 1, 2010 – Ver 7.00.52

Variable Universal Life (VUL):

1. The following changes to funds and model portfolios are now available:

c. New Fund: Goldman Sachs VIT Mid Cap Value Fund Service Class Shares.

d. Rename Funds: The following fund names have been updated: Goldman Sachs VIT Strategic Growth Fund Service Class Shares, Goldman Sachs VIT Large Cap Value Fund Service Class Shares, Lord Abbett Capital Structure Portfolio, Lord Abbett Classic Stock Portfolio, Lord Abbett Fundamental Equity Portfolio, Lord Abbett International Opportunities Portfolio, , Oppenheimer Global Strategic Income Fund/VA Service Class, UIF Global Real Estate Portfolio Class II, UIF Equity and Income Portfolio Class II, and UIF U.S. Mid Cap Value Class II.

e. New Fund Managers: The UIF funds which were previously under the Van Kampen fund manager are now managed by the Morgan Stanley Investment Management, Inc.

f. Updated Model Portfolios: Conservative Growth, Moderate Growth, Growth and Income, and Aggressive Growth.

g. The Fund Expense Charges were updated for all the funds. The Total Weighted Average Annual Expense Charge was updated from 0.80% to 0.82% for all the VUL products.

2. Fund Objectives have been updated in the illustration output based on the Managers and Funds Guide.

3. The Accidental Death Benefit (ADB) Rider maximum benefit has changed from $150,000 to $250,000 for all the VUL products.

Universal Life (UL):

4. As of 5/10/2010, Protective ModLife UL product will be made available in states of OR & VT.

April 27, 2010 – Ver 7.00.51

1. Maintenance Update.

April 14, 2010 – Ver 7.00.50

1. As of 4/19/2010, Protective ModLife UL product will be made available in State of Puerto Rico (PR).

2. As of 4/26/2010, Protective ModLife UL product will be made available in the following states: FL, MA, MT, & PA.

3. Centennial G II 8/09 UL product now offers Cash Value Accumulation Test (CVAT) in all states except: MD, MT, NY, OR, and VT.

4. For all the Variable Universal Life products, the Weighted Fund Expense Charge changes for the 1^st Quarter 2010 have been updated. However, the Total Weighted Average Annual Expense Charge of 0.80% did not change

March 29, 2010 – Ver 7.00.49

1. Introducing Protective ModLife UL product.

a. Protective ModLife is a flexible-premium universal life product that offers affordable death benefit protection with premiums which are lower for the first five years, increase in years six through ten, and are level beginning in year 11. Other benefits of the Protective ModLife include flexible coverage options and the added security of a built-in lapse protection provision.

b. Protective ModLife UL product is available in all states except: FL, MA, MD, MT, NV, NY OR, PA, TX, VT, and American Territories

2. Centennial G II 8/09 UL product now offers Cash Value Accumulation Test (CVAT) in all states except: MD, MT, NV, NY, OR, PA, PR, and VT.

3. Centennial G II 8/09 and Centennial G II 8/09 Plus products now allow Table 7 (G).

4. The Accidental Death Benefit (ADB) Rider maximum benefit has changed from $150,000 to $250,000 for all the UL products.

March 1, 2010 – Ver 7.00.48

1. Centennial Survivor G UL 11/09 is now approved in state of New Jersey (NJ).

a. The “Centennial Survivor G UL” product will remain available in state of NJ until close of business 4/16/2010. After that, Numeric Summary (DRAFT) will remain available for pending cases only.

b. TI-ADB is not approved in NJ.

2. The Term Income Provider product is now available for sale in the state of New Jersey (NJ).

a. Waiver of Premium rider is not approved in NJ.

b. TI-ADB is not approved in NJ.

February 23, 2010 – Ver 7.00.47

1. Maintenance Release Only.

February 1, 2010 – Ver 7.00.46

1. Protective ValueChoice Term Update:

a. Revised term rates.

b. Reduced maximum ages on some term periods/classes.

c. Updated renewal premiums.

d. $10 increase in policy fee (now $70 for all bands).

e. Revised term rates are approved in all states.

f. ValueChoice Term is not available in states of AQ, GU, and NY (available in Puerto Rico).

g. Table 7 (G) is now available for the ValueChoice Term Series.

2. The Chronic Illness Accelerated Death Benefit Rider (CI-ADB) for the ProClassic UL product is now approved in states of Indiana (IN), Mississippi (MS), and Oregon (OR).

3. Target Premium option has been removed from all products.

4. The Deferred Compensation Concept is now available for all UL and VUL products.

January 15, 2010 – Ver 7.00.45

1. Introducing the Chronic Illness Accelerated Death Benefit Rider (CI-ADB) for the ProClassic UL product.

a. CIADB rider advances a portion of the base policy’s death benefit if the insured is certified by a licensed health care practitioner within the past 12 months as chronically ill – defined as either unable to perform at least two Activities of Daily Living without assistance for at least 90 days, or requires substantial
supervision for protection from health and safety threats due to severe cognitive impairment. This rider is available only at issue, and there is a Waiting (Elimination) Period.

b. The CI-ADB rider may not be available in all states.

2. A “Min Non-MEC Face Solve” is now available under the Face Solve Option for the ProClassic UL, Premiere III VUL, & Premiere III SBV VUL products. This solve will calculate a minimum face amount that is not a MEC for a specified premium.

3. For all the VUL products, the Weighted Fund Expense Charge changes for the 4^th Quarter 2009 have been updated. The Total Weighted Average Annual Expense Charge changed from 0.79% to 0.80%.

4. As of 1/4/2010, Protective Preserver II VUL is approved in state of Pennsylvania (PA).

a. The Lapse Protection Rider is also approved.

b. The Long Term Care Rider is not approved.

December 21, 2009 – Ver 7.00.44

1. Centennial Survivor G UL 11/09 is now approved in state of Mississippi (MS).

a. The “Centennial Survivor G UL” product will be made available in state of MS until close of business 2/5/2010. After that, Numeric Summary (DRAFT) will remain available for pending cases until 3/12/2010.

December 14, 2009 – Ver 7.00.43

1. Centennial Survivor G UL 11/09 is now approved in states of Connecticut (CT) and Oregon (OR).

a. The “Centennial Survivor G UL” product will be made available in states of CT and OR until close of business 1/29/2010. After that, Numeric Summary (DRAFT) will remain available for pending cases until 3/5/2010.

November 30, 2009 – Ver 7.00.42

1. Centennial Survivor G UL 11/09 is now approved in states of Nevada (NV) and Texas (TX).

a. The “Centennial Survivor G UL” product will be made available in states of NV and TX until close of business 1/15/2010. After that, Numeric Summary (DRAFT) will remain available for pending cases until 2/19/2010.

November 16, 2009 – Ver 7.00.41

1. The Centennial Survivor G UL 11/09 product is now available for sale with updated rates.

a. The Centennial Survivor G UL 11/09 product is available for sale in all states except: CA, CT, MS, NJ, NV, NY, OR, TX, & American Territories.

b. The WinFlex system will only allow Numeric Summary (Draft) for the current Centennial Survivor G UL after January 1, 2010 for states that have already approved the Centennial Survivor G UL 11/09 product.

2. A “Max Level Non-MEC Premium Solve” is now available under the Premium Solve Option for the ProClassic UL, Premiere III VUL, & Premiere III SBV VUL products. This solve will calculate a maximum level premium that is not a MEC.

3. Life Insurance in Retirement Planning (LIRP) report is now redesigned.

a. LIRP is available under the Output Options Tab for the ProClassic UL, Premiere III VUL, & Premiere III SBV VUL products.

4. For the ProPayer Income Annuity (SPIA) product, Certain Periods from 4 to 9 years are no longer available for the “Certain Only” payout option.

November 2, 2009 – Ver 7.00.40

Variable Universal Life (VUL):

1. The following changes to funds and models are now available:

a. New Funds: Franklin Small Cap Value Securities, Goldman Sachs VIT Growth Opportunities Fund, Legg Mason ClearBridge Variable Mid Cap Core, Legg Mason ClearBridge Variable Small Cap Growth,  Lord Abbett All Value Portfolio, MFS VIT Research Bond Fund, MFS VIT Value Fund,  PIMCO VIT Long-Term U.S. Government Advisor, PIMCO VIT Low Duration Advisor, PIMCO VIT Real Return Advisor, PIMCO VIT Short-Term Advisor, PIMCO VIT Total Return Advisor, Royce Capital Fund Micro-Cap Portfolio, Royce Capital Fund Small-Cap Portfolio, Van Kampen LIT Global Tactical Asset Allocation, and Van Kampen UIF U.S. Mid Cap Value.

b. New Fund Managers: ClearBridge Advisors, PIMCO, & The Royce Funds.

c. New Model Portfolios: Conservative Growth, Moderate Growth, Growth and Income, and Aggressive Growth.

d. The following funds are no longer available for new sales: Fidelity VIP Equity-Income, Fidelity VIP Freedom 2015 & 2020, Fidelity VIP Growth, Goldman Sachs VIT Structured Small Cap Equity, Oppenheimer High Income Fund, Oppenheimer MidCap, Van Kampen UIF Intl Growth Equity, Van Kampen LIT Capital Growth.

e. The Fund Expense Charges were added for new funds and updated for the old funds. However, the Total Weighted Average Annual Expense Charge of 0.79% did not change for the VUL products.

f. Fund Notes have been updated based on the Managers and Funds Guide for VUL.

Single Premium VUL:

2. The Preserver II product is now available in state of Maryland (MD).

a. LTC rider is approved in MD.

b. LPR rider is not approved in MD.

Advance Sales Tool (Custom Concept):

3. IRA Wealth Transfer concept is now available for the survivorship product – Centennial Survivor G UL.

4. IRA Wealth Transfer & IRA Multi-Gen concepts now allow Lump Sum and 1035. These concepts also allow the ability to pay the premium up to any year(s).

October 16, 2009 – Ver 7.00.38

1. Maintenance Release.

October 12, 2009 – Ver 7.00.38

1. The ROSCO Rider for the ProClassic UL product is now available in states of CA & MA.

October 5, 2009 – Ver 7.00.37

1. Centennial G II UL PLUS 8/09 is now approved in states of California (CA) and Pennsylvania (PA).

a. The “Centennial G II PLUS” product will be made available in states of CA and PA until close of business 10/30/2009. After that, Numeric Summary (DRAFT) will remain available for pending cases until 11/27/2009.

2. The Survivor Term product is now available in state of New Jersey (NJ).

3. For all the Variable Universal Life products, the Weighted Fund Expense Charge changes for the 3^rd Quarter 2009 have been updated. However, the Total Weighted Average Annual Expense Charge of 0.79% did not change.

SEPTEMBER 15, 2009 – Ver 7.00.36

1. Centennial G II UL PLUS 8/09 will be made available starting 9/21/2009 in states of MD, MS, NV, and TX.

a. The “Centennial G II PLUS” product will be made available in state of MD, MS, NV, and TX until close of business 10/16/2009. After that, Numeric Summary (DRAFT) will remain available for pending cases until 11/13/2009.

2. The Enhanced Cash Surrender Value Rider (ECSV) for the ProClassic UL product is now available in state of California (CA).

AUGUST 25, 2009 – Ver 7.00.35

1. Centennial G II UL PLUS 8/09 will be made available starting 8/31/2009 in states of CT and PR.

a. The “Centennial G II PLUS” product will be made available in state of CT & PR until close of business 9/25/2009. After that, Numeric Summary (DRAFT) will remain available for pending cases until 10/30/2009.

AUGUST 19, 2009 – Ver 7.00.34

1. A new option for the Lapse Protection Premium Solve is now available for the Centennial G II UL 8/09 and Centennial G II UL Plus 8/09 products. The tiered solve allows:

a. Flexible “dial a guarantee” to any age or lapse protection duration.

b. Adjustable lapse protection premium payments.

b. Ability to illustrate up to 4 lapse protection tiers.

c. The Lapse Protection Tiers is available under the Solve For Tab > Lapse Protection Premium Solve.

2. New “Premium Stream” options for the Lapse Protection Premium solve is now available for the Centennial G II UL 8/09 and Centennial G II UL Plus 8/09 products. Available only with Flats and Riders:

a. Level Premium for Flat Extra and Riders: Premium is level for all years, regardless of when charges for temporary flat extras, riders, and benefits terminate. Results in a level premium solve and lower premium in years that temporary flat extras, riders, and benefits are in effect.

b. Non-Level Premium for Flat Extra and Riders: Premium is adjusted to reflect actual changes for temporary flat extras, riders, and benefits during period for which charges are in effect. Results in a non-level premium solve and higher premium in years that temporary flat extras, riders, and benefits are in effect.

3. A new option, “Do not allow policy to become a MEC?” is now available for Premium Solve and Face Solve for the ProClassic UL product. When this option is selected, the engine solves for a premium or face amount that will not be a modified endowment contract.

a. To select this option, click on the Solve For Tab and select Premium Solve or Face Amount Solve.

4. The ROSCO Rider for the ProClassic UL product is now available in states of CT, KS, MS, NC, & NV.

5. IRA Wealth Transfer Concept now allows IRA for a second owner on single life UL illustration.

a. Available for the Centennial G II 8/09 product.

6. Protective Centennial G II 8/09 is now available in states of MA, PA, and TX.

a. The “5/09” product will be made available in all states except MA, PA, & TX until close of business 9/4/2009. After that, Numeric Summary (DRAFT) will remain available for pending cases.

b. The “5/09” product will be made available in MA, PA, & TX until close of business 10/11/2009. After that, Numeric Summary (DRAFT) will remain available for pending cases.

7. Protective Centennial G II PLUS 8/09 is now available in states of AK, ND, OH, OK, OR, and VA.

a. The “Centennial G II PLUS” product will be made available in all states except AK, ND, OH, OK, OR, and VA until close of business 9/4/2009. After that, Numeric Summary (DRAFT) will remain available for pending cases.

b. The “Centennial G II PLUS” product will be made available in AK, ND, OH, OK, OR, and VA until close of business 10/11/2009. After that, Numeric Summary (DRAFT) will remain available for pending cases.

8. The Term Income Provider product is now available for sale in the state of FL.

AUGUST 3, 2009 – Ver 7.00.33

1. The Centennial G II UL 8/09 product is now available for sale with updated rates for the Preferred Tobacco and Tobacco classes.

a. The Centennial G II UL 8/09 product is available for sale in all states except: MA, NY, PA, TX, AQ, & GU.

b. The WinFlex system will only allow Numeric Summary (Draft) for the current Centennial G II 5/09 after September 4, 2009 for states that are already approved the Centennial G II 8/09 product.

2. The Centennial G II UL Plus 8/09 product is now available for sale.

a. The Centennial G II Plus 8/09 gives clients the ability to accumulate attractive cash values for slightly more premium than the Centennial G II product. We are pleased to introduce a “dial a guarantee” feature that is consistent with the Centennial G II product. It allows you to dial in to the needs of clients who would prefer guarantee periods to age 80, 90, 100 or any age up to 121.

b. The Tobacco and Preferred Tobacco rates have increased at all age and genders for most premium scenarios.

c. The Centennial G II Plus 8/09 product is available for sale in all states except: AK, CA, CT, MD, MS, ND, NV, NY, OH, OK, OR, PA, TX, VA, and American Territories.

d. The WinFlex system will only allow Numeric Summary (Draft) for the current Centennial G II Plus product after September 4, 2009 for states that are already approved the Centennial G II Plus 8/09 product.

3. The Survivor Term product is now available in state of Virginia (VA).

4. The Enhanced Cash Surrender Value Rider (ECSV) for the ProClassic UL product is now available in states of Florida (FL) and Massachusetts (MA).

July 28, 2009 – Ver 7.00.32

1. This update includes a Microsoft .Net Framework 2.0 update in order to run illustrations with all future engine updates.

2. Please check for Internet Updates again in WinFlex in case there are any additional engine updates.

July 20, 2009 – Ver. 7.00.31

1. Introducing the Return of Substandard Charges Option (ROSCO) Rider for the Protective ProClassic UL product.

· For clients issued with substandard underwriting ratings, the ROSCO rider is designed to encourage individuals to improve their health through key lifestyle changes, with the goal of outliving their estimated life expectancies. All base substandard charges associated with the rider will be returned as a credit to the policy value at the end of the substandard rating period.

Once the initial substandard rating period has expired, all premiums will revert to standard rating charges. This rider is available only at issue and cannot be terminated before the end of the substandard rating period.

• Issue Ages: 0-80
• Substandard rating period:

- 20 years for issue ages 0-70

- 15 years for issue ages 71-80

• Minimum and Minimum face amount: same as base policy

• Maximum substandard table: Table 8 (H)

· The ROSCO Rider is currently not available in the following states: CA, CT, FL, KS, MA, MS, NC, NV, NY, PA, & American Territories.

2. Introducing the Survivor Term product.

· Survivorship Term is a last survivor term life insurance policy that can help offset the Federal estate tax that would otherwise be payable at the death of the surviving spouse. The policy provides a reasonable means to begin estate plan or can act as an excellent complement to an existing estate plan. Flexible to meet changing needs, Survivorship Term offers a variety of affordable premium options.

· Choose from level premium periods of 10, 20 or 30 years. The conversion option will allow converting a Survivor Term policy to an eligible permanent life insurance policy without additional medical reviews.

· The Survivor Term product is available in all states except: MT, NJ, NY, VA, WA, and American Territories.

3. The substandard Table 7 (G) is now available for the Protective ProClassic UL product.

July 6, 2009 – Ver. 7.00.30

5. For all the Variable Universal Life products, the Weighted Fund Expense Charge changes for the 2^nd Quarter 2009 have been updated. However, the Total Weighted Average Annual Expense Charge of 0.79% did not change.

6. Starting on 7/13/2009, the ProClassic UL product will be made available for sale in state of Pennsylvania (PA).

June 29, 2009 – Ver. 7.00.29

1. Introducing the Enhanced Cash Surrender Value Rider (ECSVR) for Protective ProClassic UL product.

a. Enhanced Cash Surrender Value Rider (Employer Sponsored or Premium Finance Only) provides early enhanced cash value to your policy by offering a waiver or reduction of surrender charge if your policy is fully surrendered during the first 14 years (and other rider conditions are met). A modified premium expense charge (load) schedule will also apply to the policy when the rider is added.

b. The ECSV rider is available in all states except for CA, FL, MA, NY, PA, & American Territories.

2. The ProSaver Secure II Fixed Annuity product is now available for sale in states of OR and WA.

3. The Policy Review Concept is now available under the Custom Concept Tab for the Protective ProClassic UL product.

June 15, 2009 – Ver. 7.00.28

1. Protective ValueChoice Term Update:

a. Revised term rates.

b. $5 increase in policy fee on 10-year and 15-year products (now $60 for all bands).

c. The Preferred Tobacco class is no longer available for sale.

d. Revised term rates are approved in all states.

2. Due to low demand and low placement rates, medical evaluation will no longer be offered with the ProPayer Income Annuity, effective July 1, 2009. Please note the following:

a. Effective immediately, we will not accept medical records for new quotes.

b. If you have received a medically underwritten age rating within the last 6 months, we will accept New Business applications for these clients until June 30, 2009.

c. The ProPayer Income Annuity will continue to offer the competitive PAYPlus^SM feature, which provides annual payment increases of up to 10% of the prior year’s payment, and the Commutable Benefit Option that is available on Certain Period payment schedules.

d. If you have any questions, please contact the Independent Agent Sales Desk at 800-421-5614.

3. Please note that the Centennial G II UL 7/08 product will no longer allow Basic and Revised illustrations after 6/5/2009 and will only allow Draft (Numeric Summary).

June 1, 2009 – Ver. 7.00.27

1. Starting on 6/8/2009, the Centennial G II UL 5/09 product will be made available for sale in state of Pennsylvania (PA).

2. Please note that the Centennial G II UL 7/08 product will no longer allow Basic and Revised illustrations after 6/5/2009 and will only allow Draft (Numeric Summary).

3. Starting on 6/8/2009, the Centennial Survivor G UL product will be made available for sale in state of Pennsylvania (PA).

May 22, 2009 – Ver. 7.00.26

1. The Centennial G II UL 5/09 product is available for sale in state of Oregon (OR) and Texas (TX).

2. Please note that the Centennial G II UL 7/08 product will no longer allow Basic and Revised illustrations after 6/5/2009 and will only allow Draft (Numeric Summary).

a. This product is available for sale only in state of Pennsylvania (PA).

3. The Premiere III VUL product is available for sale in state of Texas (TX).

4. The IRA Multi-Generation Concept is now available under the Custom Concept Tab for the Centennial Survivor G UL product.

5. The Policy Review Concept is now available under the Custom Concept Tab for the Centennial G II UL 5/09, Centennial G II UL 7/08, and Centennial G II Plus UL products.

May 1, 2009 – Ver. 7.00.25

1. The Centennial G II UL 5/09 product is now available for sale in all states except: NY, OR, PA, & TX.

a. The WinFlex system will turn off the current Centennial G II 7/08 at the end of the day, June 5, 2009 for states that are already approved the Centennial G II 5/09 product.

2. The ADB, CTR, & WP riders are now available in Puerto Rico (PR) for the ValueChoice Term product.

3. The ProClassic UL product is now available for sale in Puerto Rico (PR).

a. All riders are also approved except CTR and DBplus.

4. Variable Universal Life (VUL) Update:

a. Fund name change from Templeton Global Income Securities to Templeton Global Bond Securities.

b. The Mesirow Models are no longer available.

c. The Net Fund Expense for each fund has been updated based on a recent prospectus.  

d. The Weighted Fund Expense Charge changes have been updated. However, the Total Weighted Average Annual Expense Charge of 0.79% did not change.

5. The OptiBlend VUL Concept is now available under the Custom Concept Tab for the Premiere III VUL and Premiere III SBV products.

6. The IRA Multi-Generation Concept is now available under the Custom Concept Tab for the Centennial G II UL 5/09 and Centennial G II UL 7/08 products.

APRIL 13, 2009 – Ver. 7.00.23

1. The Centennial Survivor G UL product is now available for sale in state of Massachusetts (MA).

APRIL 3, 2009 – Ver. 7.00.23

1. The Term Income Provider product is now available for sale in the state of Utah (UT).

2. The ProClassic UL product is now available for sale in the state of Mississippi (MS).

3. For all the Variable Universal Life products, the Weighted Fund Expense Charge changes for the 1st Quarter 2009 have been updated. However, the Total Weighted Average Annual Expense Charge of 0.79% did not change.

4. Starting on 4/13/2009, the Centennial Survivor G UL product will be made available for sale in state of Massachusetts (MA).

MARCH 23, 2009 – Ver. 7.00.23

1. Protective ValueChoice Term Series Update:

a. State of Oregon (OR) has now approved the revised rates as of 3/23/2009.

i. Revised rates for the 30 Year Term.

ii. Change in Policy Fee on the 250K and 1000K bands by:

i. $5 for the 10-year and 15-year products (to $55).

ii. $10 for the 20-year, 25-year, and 30-year products (to $60).

2. The ProSaver Secure II Fixed Annuity product is now available for sale in the following states: Alaska (AK), Massachusetts (MA), Maryland (MD), Montana (MT), New Mexico (NM), Pennsylvania (PA), & Utah (UT).

MARCH 16, 2009 – Ver. 7.00.21

1. Protective ValueChoice Term Update:

a. Revised rates for the 30 Year Term.

b. Change in Policy Fee on the 250K and 1000K bands by:

i. $5 for the 10 year and 15-year products (to $55)

ii. $10 for the 20-year, 25-year and 30-year products (to $60)

c. State of Oregon (OR) has not yet approved new rates and will be quoted using current rates.

2. The ProClassic UL product is now available for sale in the state of Montana (MT).

3. Starting 4/1/2009, the ProSaver Index Choice II 5 and ProSaver Index Choice II 7 products are no longer available for sale.

4. The IRA Wealth Transfer Concept is now available under the Custom Concept Tab for the Centennial G II 7/08 UL product.

MARCH 2, 2009 – Ver. 7.00.20

1. The Term Income Provider product is now available for sale in the following states: Mississippi (MS) and Virginia (VA).

2. The Premiere III VUL product is now available for sale in Maryland (MD).

3. The OptiBlend UL Concept is now available under the Custom Concept Tab for the Centennial G II 7/08 UL product.

4. The ProPayer Income Annuity (SPIA) product is now available in WinFlex.

FEBRUARY 10, 2009 – Ver. 7.00.18

1. Introducing Legacy Guard Concept and Capital Transfer Concept for Protective Centennial G II UL 7/08 and Protective Centennial Survivor G UL products.

2. The ProSaver Index Choice II products no longer offer the Fixed Rate Plus Strategy and Participation Rate Strategy.

a. The ProSaver Index Choice II products are approved in all states except: NY, OR, WA, & American Territories.

3. As of 2/2/2009, Waiver of Premium (WOP) rider is now approved in state of MN for the Protective ValueChoice Term Series.

JANUARY 20, 2009 – Ver. 7.00.16

1. The ProClassic UL product is now available for illustrations in state of Maryland (MD).

2. For the ProClassic UL product, state of California has now approved the Child Term Rider and the Death Benefitplus Rider.

3. The Centennial Survivor G UL product is now available for sale in state of Montana (MT), Minnesota (MN), and Mississippi (MS).

JANUARY 8, 2009 – Ver. 7.00.15

1. The Premiere III VUL product is now available for illustrations in the following states: FL, MA, MO, & MT.

2. The Premiere III SBV VUL product is now available for illustrations in the following states: MO & MT.

3. Starting 1/20/2009, Centennial Survivor G UL product will be made available for sale in state of Montana (MT), Minnesota (MN), and Mississippi (MS).

4. The following products will no longer allow Basic and Revised illustrations after 12/1/2008 and will allow only Draft (Numeric Summary):

a. Protective Classic UL II, Protective ProValue UL, Protective Custom UL, Protective 100 Plus, Premiere II VUL 2003, Premiere II SBV 2003, Premiere Protector VUL, Premiere Protector SBV, Protective Preserver, & Protective Survivor Select UL III.

JANUARY 5, 2009 – Ver. 7.00.14

1. The Premiere III VUL product is now available for illustrations in the following states: FL, MA, MO, & MT.

2. The Premiere III SBV VUL product is now available for illustrations in the following states: MO & MT.

3. Starting 1/20/2009, Centennial Survivor G UL product will be made available for sale in state of Montana.

DECEMBER 19, 2008 – Ver. 7.00.13

1. The Term Income Provider product is now available for illustrations in the following states: GA, IL, MA, NE, NV, NM, OH, OK, & SC.

2. ProSaver Secure II Fixed Annuity product is now added in WinFlex.

a. ProSaver Secure II, a limited, flexible-premium deferred annuity, is a long-term savings vehicle that can provide a variety of features and benefits to help you prepare for retirement. ProSaver Secure II is designed for customers desiring tax-deferred growth, flexibility and security for their retirement funds.

DECEMBER 8, 2008 – Ver. 7.00.12

1. The Centennial G II UL 7/08 product is now approved in state of Pennsylvania (PA).

2. The Centennial G II PLUS UL product is now approved in state of Pennsylvania (PA).

3. Starting on 12/15/2008, the Protective ValueChoice Term product will be made available in state of Maryland (MD).

4. Starting on 12/15/2008, the ADB and WOP riders will be made available in state of Washington (WA) for the Protective ValueChoice Term product.

December 1, 2008 – Ver. 7.00.11

1. Introducing Premiere III VUL product.

a. The Premiere III VUL product is a variable universal life insurance policy that may be well suited for those investors interested in maximizing the long-term cash value accumulation of the policy, perhaps as a supplement to qualified retirement plans or annuity income.

b. Also available is Premiere III SBV, a Special Buyers' Version available only for registered representatives whose broker dealer is contracted with Protective. This offer extends to their spouse and children. Special Buyers' Version may be available in other limited circumstances. Please see prospectus for details.

c. The Premiere III VUL and Premiere III VUL SBV products are not yet approved or available for illustrations in the following states: CA, FL, MA, MD, MO, MS, MT, NY, PA, & American Territories. WinFlex will be updated appropriately as approvals are received.

2. The Centennial Survivor G UL product is now approved for sale in states of TX, UT, & VT.

3. The Protective ProClassic UL product is now approved for sale in states of NV & OR.

4. The Protective Preserver II VUL product is now approved for sale in states of CA, MA, MT, TX, & UT.

5. The following products will no longer allow Basic and Revised illustrations after 12/1/2008 and will allow only Draft (Numeric Summary):

a. Protective Classic UL II, Protective ProValue UL, Protective Custom UL, Protective 100 Plus, Premiere II VUL 2003, Premiere II SBV 2003, Premiere Protector VUL, Premiere Protector SBV, Protective Preserver, & Protective Survivor Select UL III.