Transaction Charges

You will also be charged for other transactions, including Premium Expense Charge (consisting of the Sales Load and Premium Tax) and Transfer Fees.

For additional information about transaction charges, see “FEE TABLE — Transaction Fees” in the Prospectus.

Optional Benefits

Optional benefits are subject to additional charges and are available only at the time your Policy is issued and may not be available for all Owners or Insureds.

For additional information about the optional benefits, see “OPTIONAL BENEFITS UNDER THE POLICY” in the Prospectus.

Investment Professional Compensation

Some investment professionals have and may continue to receive compensation for selling the Policy, which may include commissions, revenue sharing, compensation from affiliates and third parties. These investment professionals may have a financial incentive to offer or recommend the Policy over another investment.

For additional information about compensation, see “SALE OF THE POLICIES” in the Prospectus.

​	Transaction Fees​										​
​	Charge​	​	​	When Charge is Deducted​	​	​	Amount Deducted — Maximum Guaranteed Charge​	​	​	Amount Deducted — Current Charge​	​
​	Premium Expense Charge (consists of the Sales Load and Premium Tax):	​	​	Upon receipt of each premium payment	​	​	10% of each premium payment	​	​	6.0% of each premium payment	​
​	Sales Load: (1)	​	​	Upon receipt of each premium payment	​	​	6.5% of each premium payment	​	​	2.5% of each premium payment up to target and 1.0% of each premium payment in excess of target for Policy Years 1 through 10	​
​	Premium Tax: (1)	​	​	Upon receipt of each premium payment	​	​	3.5% of each premium payment	​	​	3.5% of each premium payment	​
​	Surrender Charge:	​	​	There is no surrender charge associated with your Policy. However, the surrender of your Policy may have tax consequences.	​	​	​	​	​	​	​
​	Transfer Fee: (2)	​	​	Upon each transfer in excess of 12 in a Policy Year	​	​	$10 per transfer	​	​	$10 per transfer	​
​	Withdrawal Charge:	​	​	At the time of each partial withdrawal of Policy Value	​	​	$100 deducted from Policy Value for all partial withdrawals after the first made in the same Policy Year.	​	​	$25 deducted from Policy Value for all partial withdrawals made after the first made in the same Policy Year.	​

​	Periodic Charges Other Than Annual Fund Operating Expenses​							​
​	Charge​	​	​	When Charge is Deducted​	​	​	Amount Deducted	​
​	Base Contract Charges:							​
​	Cost of Insurance Charge (per $1,000 Net Amount at Risk) (1) (2) (3)	​	​	On the Policy Effective Date and each Monthly Anniversary Day	​	​	​	​
​	Minimum Charge	​	​	​	​	​	$0.01 per $1,000 of Net Amount at Risk	​
​	Maximum Charge	​	​	​	​	​	$83.33 per $1,000 of Net Amount at Risk	​
​	Maximum Charge for a 46 year old male, non-smoker, $550,000, Total Face Amount, Option 1 (Level Death)	​	​	​	​	​	$0.16 per $1,000 of Net Amount at Risk	​
​	Mortality and Expense Risk Charge: (4)	​	​	On the Policy Effective Date and each Monthly Anniversary Day	​	​	​	​
​	Maximum Charge (5)	​	​	​	​	​	0.90% (of average daily net assets) annually	​
​	Administration Charge:	​	​	On the Policy Effective Date and each Monthly Anniversary Day	​	​	​	​
​	Maximum Charge (6)	​	​	​	​	​	$10.00	​
​	Loan Interest Credit Spread:	​	​	On each Policy Anniversary, as applicable (7)	​	​	​	​
​	Maximum Charge (8)	​	​	​	​	​	1.5%	​
​	Optional Benefit Charges:							​
​	Term Life Insurance Rider	​	​	On the Policy Effective Date and each Monthly Anniversary Day	​	​	​	​
​	Minimum Charge	​	​	​	​	​	$0.01 per $1,000 of Net Amount at Risk	​
​	Maximum Charge	​	​	​	​	​	$83.33 per $1,000 of Net Amount at Risk	​
​	Change of Insured Endorsement	​	​	Upon change of insured	​	​	$400 per change	​

Currently, electronic transfers do not count towards the 12 free transfers; however, we reserve the right, at any time, to charge for electronic transfers in excess of the free transfers allowed. See Charges and Deductions.

Maximum Charge for a 46 year old male, non-smoker, $550,000, Total Face Amount, Option 1 (Level Death)

$0.16 per $1,000 of Net Amount at Risk

The current Administration Charge is $7.50.

​

(1)

Expenses are shown as a percentage of Portfolio average daily net assets (before any waiver or reimbursement).

Expenses are shown as a percentage of Portfolio average daily net assets (before any waiver or reimbursement).

STANDARD DEATH BENEFITS

As long as the Policy remains in force, Protective Life will pay the Beneficiary the Death Benefit Proceeds upon receipt at the Home Office of Due Proof of Death of the Insured. Protective Life may require return of the Policy. The Death Benefit Proceeds are paid to the primary Beneficiary or a contingent Beneficiary. The Owner may name one or more primary or contingent Beneficiaries. Unless designated irrevocably, the Owner may change the Beneficiary by Written Notice prior to the death of any Owner. If no Beneficiary survives the Insured, the Death Benefit Proceeds are paid to the Owner or the Owner’s estate. Death Benefit Proceeds are paid in a lump sum or under a settlement option that the Company is then offering. Payment of the Death Benefit Proceeds may have tax consequences. See Tax Considerations — Tax Treatment of Life Insurance Death Benefit Proceeds.

Please note that any Death Benefit payment we make in excess of the Variable Account Value, including payments under any rider, is subject to our financial strength and claims-paying ability.

Limits on Policy Rights

Incontestability.   Unless fraud is involved, Protective Life will not contest the Policy, or any supplemental rider or endorsement, after the Policy, rider, or endorsement has been in force during the Insured’s lifetime for two years from the Policy Effective Date or the effective date of the rider or endorsement. Likewise, unless fraud is involved, Protective Life will not contest an increase in the Total Face Amount with respect to statements made in the Evidence of Insurability for that increase after the increase has been in force during the life of the Insured for two years after the effective date of the increase.

Suicide Exclusion.   If the Insured dies by suicide, within two years from the Issue Date, the Death Benefit will be limited to the premium payments made before death, less any Policy Debt, and any withdrawals. If the Total Face Amount is increased and if the Insured commits suicide, within 2 years from the effective date of any increase, the Company

Protective Life reserves the right to decline or limit the amount of such decrease. Although Protective Life will attempt to notify an Owner if a decrease in the Total Face Amount will cause a Policy to be considered a modified endowment contract under Section 7702A of the Code, we will not automatically return premium. See Tax Considerations — Policies That Are MECs. Decreasing the Total Face Amount also may have other tax consequences. See Tax Considerations — Certain Distributions Required by the Tax Law in the First 15 Policy Years.

The Total Face Amount after any decrease must be at least $100,000. If the initial Total Face Amount of the Policy has been increased prior to the requested decrease, then the decrease will first be applied against any previous increases in Total Face Amount in the reverse order in which they occurred.

Decreasing the Total Face Amount of the Policy may reduce the Death Benefit and may have the effect of decreasing monthly cost of insurance charges.

Settlement Options

The Death Benefit on the Insured’s death will be paid in a lump sum unless the Owner elects to receive all or a portion of the Death Benefit Proceeds under a settlement option that the Company is then offering. The Company shall make settlement to the Beneficiary, not later than 30 days after the Company receives due proof of the Insured’s death. The Company will pay interest, computed daily, from the date of death equal to the rate required by the state in which the Policy was delivered. See Tax Considerations — Tax Treatment of Life Insurance Death Benefit Proceeds.

Escheatment of Death Benefit

Every state has unclaimed property laws which generally declare life insurance policies to be abandoned after a period of inactivity of 3 to 5 years from the date the Death Benefit is due and payable. For example, if the payment of a Death Benefit has been triggered, but, if after a thorough search, Protective Life is still unable to locate the Beneficiary of the Death Benefit, or the Beneficiary does not come forward to claim the Death Benefit in a timely manner, the Death Benefit will be paid to the abandoned property division or unclaimed property office of the state in which the Beneficiary or the Owner last resided, as shown on our books and records, or to our state of domicile. This “escheatment” is revocable, however, and the state is obligated to pay the Death Benefit (without interest) if your Beneficiary steps forward to claim the Death Benefit with the proper documentation. To prevent such escheatment, it is important that you update your Beneficiary designations, including addresses, if and as they change. Such updates should be communicated in writing, by telephone, or other approved electronic means to the Home Office.

OPTIONAL BENEFITS UNDER THE POLICY

In addition to the standard death benefits associated with your Policy, other optional benefits may also be available to you. The following table summarizes information about these optional benefits. Information about the fees associated with each benefit included in the table may be found in the Fee Table.

(1)

The criteria referenced herein is described further in the second paragraph under the heading “Term Life Insurance Rider” below.

​

The following supplemental benefits available through riders and endorsements may be available to be added to your Policy. Monthly charges, if applicable, for these riders and endorsements will be deducted from your Policy Value as part of the monthly deduction. See Monthly Deduction.

The Term Life Insurance Rider (i) can only be added at the time of Policy issue and (ii) the purchaser must satisfy certain criteria such as the number of Policies it expects to purchase and the expected aggregate Total Face Amount under all such Policies.

If you purchase this rider, the sales load will be proportionately lower as a result of a reduction in commission payments. Commissions payable to sales representatives for the sale of the Policy are calculated based on the total premium payments. As a result, this rider generally is not offered in connection with any Policy with annual premium payments of less than $100,000, except for policies issued on a guaranteed issue basis. In our discretion, we may decline to offer this rider or refuse to consent to a proposed allocation of coverage between a Policy and term rider.

If this rider is offered, the commissions will vary depending on the allocation of your coverage between the Policy and the term rider. The same initial Death Benefit will result in the highest commission when there is no term rider, with the commission declining as the portion of the Death Benefit coverage allocated to the term rider increases. Thus, the lowest commission amount is payable, and the lowest amount of sales load deducted from your premiums will occur, when the maximum term rider is purchased.

This rider will terminate upon the earliest of:

Request by the Owner;

​

•

The date the Policy is surrendered or coverage has ceased; or

​

•

The death of the Insured.

​

The fees and rider are subject to the terms and conditions contained in the “Fees and Charges” provision in the Policy and are described in detail in the Charges and Deductions section of this Prospectus, where applicable.

The calculation of the fees and charges described in detail in the Charges and Deductions section of this Prospectus are modified as follows if this rider is elected:

Cost of Insurance under the Term Life Insurance Rider.   While this rider is in force, the Death Benefit described in the Policy includes the Rider Death Benefit. The cost of insurance for the Policy and this rider is calculated as follows and there is no additional cost of insurance charge for this rider.

a.

The Death Benefit divided by the death benefit interest rate factor as shown on the Policy Schedule, less the Policy Value Account on each Monthly Anniversary, multiplied by the current monthly risk rate for the Insured’s Attained Age; plus

​

b.

The monthly administration charge.

​

If there has been an increase or decrease in the Death Benefit during the Policy Year, the cost of insurance calculation will be adjusted accordingly to reflect the change.

Expense Charge under the Term Life Insurance Rider.   While this rider is in force, a reduction of the current expense charge assessed will be made in proportion to the applicable percentage of the Term Life Insurance Rider Face Amount which is equal to the Term Life Insurance Rider Face Amount divided by the Total Face Amount. The expense charge assessed will not exceed the maximum expense charge shown on the Policy Schedule. The Return of Expense Charge Benefit as described in the “Return of Expense Charge Benefit” section in this Prospectus will be calculated for the current expense charge as assessed, as described above, when this rider is elected. The Return of Expense Charge Schedule is shown on the Policy Schedule.

Mortality and Expense Charges under the Term Life Insurance Rider.   While this rider is in force, a reduction of the current mortality and expense charges assessed will be based on the applicable percentage of the Term Life Insurance Rider Face Amount which is equal to the Term Life Insurance Rider Face Amount divided by the Total Face Amount. The mortality and expense charges assessed per year will be determined by us but will not exceed 0.90% annually.

Example of the Operation of the Term Life Insurance Rider.

The Term Life Insurance Rider — if purchased with the Base Policy — will not impact the Death Benefit provided by the Total Face Amount, but will cause a reduction in the expense charges applied against the Policy Value. This reduction in charges will provide for higher Policy Values than if no Term Life Insurance Rider were elected. For example, if the Term Life Insurance Rider Face Amount is equal to $25,000 and the Total Face Amount equals $100,000, there will be a 25% reduction in the assessed expense charge. Similarly, there is a reduction of the current Mortality and Expense Charges, down to 0.10% when the maximum percentage of Term Life Insurance Rider Face Amount is utilized. Accordingly, for a purchase of  $100,000 of life insurance coverage ($75,000 Base and $25,000 Term), Death Benefits over the life of the Policy due to the expense charge reductions may exceed the Death Benefits provided if no Term Rider was purchased and the $100,000 coverage was provided solely under the Base Policy.

Change of Insured Endorsement (not available to Individual Owners).   This endorsement permits you to change the Insured under your Policy or any Insured that has been named by virtue of this endorsement. Before we change

the Insured you must provide us with (1) a written Request in Good Order for the change signed by you and approved by us; (2) evidence of Insurability for the new Insured; (3) evidence that there is an insurable interest between you and the new Insured; (4) evidence that the new Insured’s age, at the nearest birthday, is under 70 years; and (5) evidence that the new Insured was born prior to the Policy Effective Date. We may charge a fee for administrative and underwriting expenses when you change the Insured. The minimum charge is $100 per change and the maximum charge is $400 per change. When a change of Insured takes effect, premiums will be based on the new Insured’s age, sex, mortality class and the premium rate in effect on the Change of Insured Date, which is the Monthly Anniversary on or following the date of approval by the Company of the new Insured. See also Tax Considerations — Change of Insured Endorsement. The monthly risk rates will be based on the new Insured’s age and sex as of the Policy Date and the premium class as of the Change of Insured Date. The maximum monthly risk rates are shown on the updated Policy Schedule and are based on the Mortality Table as shown on the updated Policy Schedule, age nearest birthday. The Company may charge a lower monthly risk rate than shown on the Policy Schedule. The Total Face Amount of the Policy will not change on the Change of Insured Date.

Limits on Policy Rights

Incontestability.   Unless fraud is involved, Protective Life will not contest the Policy, or any supplemental rider or endorsement, after the Policy, rider, or endorsement has been in force during the Insured’s lifetime for two years from the Policy Effective Date or the effective date of the rider or endorsement. Likewise, unless fraud is involved, Protective Life will not contest an increase in the Total Face Amount with respect to statements made in the Evidence of Insurability for that increase after the increase has been in force during the life of the Insured for two years after the effective date of the increase.

Suicide Exclusion.   If the Insured dies by suicide, within two years from the Issue Date, the Death Benefit will be limited to the premium payments made before death, less any Policy Debt, and any withdrawals. If the Total Face Amount is increased and if the Insured commits suicide, within 2 years from the effective date of any increase, the Company

will refund the cost of insurance paid for the amount of increase. The Total Face Amount of the Policy will be reduced to the Total Face Amount that was in effect prior to the increase. The Company will not pay any portion of the increased Total Face Amount, other than the Death Benefit (and only if it is greater than the Total Face Amount prior to the increase).

The Company reserves the right to request and obtain evidence as to the manner and/or cause of the Insured’s death where not prohibited by law. Such request:

1.

will be reasonable;

2.

will clearly set forth the reasons why an autopsy is warranted; and

3.

the autopsy will be at the Company’s expense.

Misstatement of Age or Sex.   If the Insured’s age and/or sex on the Policy Date has been misstated and the misstatement is discovered on or after the death of the Insured, then the benefits payable under this Policy will be the amount of insurance that the cost of insurance would have purchased for the correct age and/or sex on the Policy Date. The applicable factor used in determining the Death Benefit shall be the factor required by Section 7702 of the Code reflecting the Insured’s correct age and/or sex. If the Insured is alive at the time the misstatement of age and/or sex is discovered, then we will adjust the Policy Value Account and other benefits under the Policy as of the Policy Date based on the correct age and/or sex. Future monthly deductions from the Policy Value Account will be based upon the correct age and/or sex.

The following is a list of Funds available under the Policy. More information about the Funds is available in the prospectuses for the Funds, which may be amended from time to time and can be found online at www.protective.com/​eprospectus. You can also request this information at no cost by calling 1-800-265-1545 or by sending an email request to prospectus@protective.com.

The current expenses and performance information below reflects fees and expenses of the Funds, but do not reflect the other fees and expenses that your Policy may charge. Expenses would be higher and performance would be lower if these other charges were included. Each Fund’s past performance is not necessarily an indication of future performance.