0001104659-19-038151.txt : 20190628 0001104659-19-038151.hdr.sgml : 20190628 20190628095522 ACCESSION NUMBER: 0001104659-19-038151 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20190628 DATE AS OF CHANGE: 20190628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROTECTIVE LIFE INSURANCE CO CENTRAL INDEX KEY: 0000310826 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] IRS NUMBER: 630169720 STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-222086 FILM NUMBER: 19927598 BUSINESS ADDRESS: STREET 1: 2801 HIGHWAY 280 SOUTH CITY: BIRMINGHAM STATE: AL ZIP: 35223 BUSINESS PHONE: 2058799230 MAIL ADDRESS: STREET 1: PO BOX 2606 CITY: BIRMINGHAM STATE: AL ZIP: 35202 424B3 1 a19-12228_1424b3.htm 424B3

 

Supplement dated June 28, 2019

to the Prospectus dated June 29, 2018 for

Protective Market Defender Annuity

Issued by

Protective Life Insurance Company

 

The following disclosure is added to Appendix D: State Contract Availability and Variations of Certain Features. If the information in this Supplement differs from the information contained in the Prospectus, you should rely on the information in this Supplement.

 

STATE

 

FEATURE

 

VARIATION

Alaska

 

Declared Rate Account

 

The minimum guaranteed interest rate for the Declared Rate Account is 1.20%.

 

 

 

 

 

 

 

Strategies

 

The minimum guaranteed interest rate for the Guaranteed Interest Strategy is 1.20%.

 

 

 

 

 

 

 

 

 

The Index, Floor and minimum Participation Rate and Cap for each Indexed Strategy that we currently offer are identified in the chart below.

 

 

 

 

 

 

 

 

 

INDEXED STRATEGIES

 

 

 

 

 

 

 

 

 

Minimum

 

 

 

 

 

 

 

Index

 

Floor

 

Participation Rate

 

Minimum Cap

 

 

 

 

 

S&P 500

 

- 5

%

100

%

5

%

 

 

 

 

S&P 500

 

- 10

%

100

%

5

%

 

 

 

 

S&P 500

 

- 20

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 5

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 10

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 20

%

100

%

5

%

 

 

 

 

 

 

 

Market Value Adjustment

 

We will not apply a Market Value Adjustment when you withdraw all or a portion of your Contract Value during the withdrawal charge period.

 

 

 

 

 

 

 

Withdrawals and Surrenders

 

Withdrawals and surrenders during the withdrawal charge period that exceed the Free Withdrawal Amount are subject to a withdrawal charge but not a Market Value Adjustment.

 

 

 

 

 

 

 

 

 

During the withdrawal charge period, we calculate the withdrawal charge by multiplying the amount that exceeds the Free Withdrawal Amount by the applicable withdrawal charge.

 

 

 

 

 

 

 

Death Benefit

 

The death benefit is equal to the sum of (A) + (B) + (C), where:

 

 

 

 

 

 

 

 

 

(A)       is the Declared Rate Account value,

 

 

 

 

(B)       is the Segment Value(s) of all the Guaranteed Interest Segments, and

 

 

 

 

(C)       is the Segment Investment(s) of all the Indexed Segments (not subject to an Interim Value calculation).

 

 

 

 

 

Minnesota

 

Declared Rate Account

 

The minimum guaranteed interest rate for the Declared Rate Account is 1.20%.

 

 

 

 

 

 

 

Strategies

 

The minimum guaranteed interest rate for the Guaranteed Interest Strategy is 1.20%.

 

 

 

 

 

 

 

 

 

The Index, Floor and minimum Participation Rate and Cap for each Indexed Strategy that we currently offer are identified in the chart below.

 

 

 

 

 

 

 

 

 

INDEXED STRATEGIES

 

 

 

 

 

 

 

 

 

Minimum

 

 

 

 

 

 

 

Index

 

Floor

 

Participation Rate

 

Minimum Cap

 

 

 

 

 

S&P 500

 

- 5

%

100

%

5

%

 

 

 

 

S&P 500

 

- 10

%

100

%

5

%

 

 

 

 

S&P 500

 

- 20

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 5

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 10

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 20

%

100

%

5

%

 

 

STATE

 

FEATURE

 

VARIATION

 

 

Market Value Adjustment

 

We will not apply a Market Value Adjustment when you withdraw all or a portion of your Contract Value during the withdrawal charge period.

 

 

 

 

 

 

 

Withdrawals and Surrenders

 

Withdrawals and surrenders during the withdrawal charge period that exceed the Free Withdrawal Amount are subject to a withdrawal charge but not a Market Value Adjustment.

 

 

 

 

 

 

 

 

 

During the withdrawal charge period, we calculate the withdrawal charge by multiplying the amount that exceeds the Free Withdrawal Amount by the applicable withdrawal charge.

 

 

 

 

 

 

 

Death Benefit

 

The death benefit is equal to the sum of (A) + (B) + (C), where:

 

 

 

 

 

 

 

 

 

(A)       is the Declared Rate Account value,

 

 

 

 

(B)       is the Segment Value(s) of all the Guaranteed Interest Segments, and

 

 

 

 

(C)       is the Segment Investment(s) of all the Indexed Segments (not subject to an Interim Value calculation).

 

 

 

 

 

New Jersey

 

Declared Rate Account

 

The minimum guaranteed interest rate for the Declared Rate Account is 1.20%.

 

 

 

 

 

 

 

Strategies

 

The minimum guaranteed interest rate for the Guaranteed Interest Strategy is 1.20%.

 

 

 

 

 

 

 

 

 

The Index, Floor and minimum Participation Rate and Cap for each Indexed Strategy that we currently offer are identified in the chart below.

 

 

 

 

 

 

 

 

 

INDEXED STRATEGIES

 

 

 

 

 

 

 

 

 

Minimum

 

 

 

 

 

 

 

Index

 

Floor

 

Participation Rate

 

Minimum Cap

 

 

 

 

 

S&P 500

 

- 5

%

100

%

5

%

 

 

 

 

S&P 500

 

- 10

%

100

%

5

%

 

 

 

 

S&P 500

 

- 20

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 5

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 10

%

100

%

5

%

 

 

 

 

MSCI EAFE

 

- 20

%

100

%

5

%

 

 

 

 

 

 

 

Market Value Adjustment

 

We will not apply a Market Value Adjustment when you withdraw all or a portion of your Contract Value during the withdrawal charge period.

 

 

 

 

 

 

 

Withdrawals and Surrenders

 

Withdrawals and surrenders during the withdrawal charge period that exceed the Free Withdrawal Amount are subject to a withdrawal charge but not a Market Value Adjustment.

 

 

 

 

 

 

 

 

 

During the withdrawal charge period, we calculate the withdrawal charge by multiplying the amount that exceeds the Free Withdrawal Amount by the applicable withdrawal charge.

 

 

 

 

 

 

 

Death Benefit

 

The death benefit is equal to the sum of (A) + (B) + (C), where:

 

 

 

 

 

 

 

 

 

(A)       is the Declared Rate Account value,

 

 

 

 

(B)       is the Segment Value(s) of all the Guaranteed Interest Segments, and

 

 

 

 

(C)       is the Segment Investment(s) of all the Indexed Segments (not subject to an Interim Value calculation).

 

This Supplement Should Be Retained with Your Prospectus for Future Reference.