SUPPLEMENT dated July 1, 1999 to
PROSPECTUS dated May 1, 1999 for
Protective Life's Premiere II
issued by Protective Life Insurance Company
Protective Life Insurance Company has revised the surrender charge (contingent
deferred sales charge)for the Premiere II individual flexible premium
variable and fixed life insurance policy by shortening the surrender charge
period and reducing the surrender charges in certain years . The following
revisions to the prospectus reflect these changes.
On page 7, the third bullet point under the "CASH BENEFITS" section is replaced
in its entirety by the following language:
The Policy may be surrendered in full at any time for its Surrender
Value. A declining deferred sales charge per $1,000 of Initial Face
Amount is assessed on surrenders during the first 10 Policy Years.
See "Surrender Charge (Contingent Deferred Sales Charge)" page 30.
On page 30, under the caption "Surrender Charge (Contingent Deferred Sales
Charge)," the first and second paragraphs are replaced in their entirety by the
following language:
If the Policy is surrendered, or if the Initial Face Amount is
reduced, through the first ten Policy Years, a surrender charge will be
deducted from the Policy Value for the Initial Face Amount (or the
reduction thereof). The surrender charge, which is a contingent
deferred sales charge, will be deducted before any Surrender Value is
paid.
The surrender charge varies depending on Issue Age, sex and rate
classification of the Insured and is set forth in your Policy.
Representative surrender charges per $1,000 of Initial Face Amount for
the first Policy Year for an Insured male non-smoker at each specified
Issue Age are set forth below. The surrender charge decreases over the
ten-year period. For a decrease in the Initial Face Amount, the charge
shown is per $1,000 of decrease.
Also on Page 30, under the caption "Surrender Charge (Contingent Deferred Sales
Charge)," the sentence after the Table is replaced by the following language:
After the 10th Policy Year, there is no surrender charge for the
Initial Face Amount.
On page 31, in the "Surrender Charges" section of the table, the
information under "Policy" is replaced by the following language:
A declining deferred sales charge per $1,000 of Initial Face
Amount is assessed during the first 10 Policy Years.
The revisions to the surrender charge also affect the surrender values
illustrated on pages 34 through 41 of the prospectus. For an updated
Illustration of Policy Values, please consult your Registered Representative.
