-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IY+r6gnkr4ZkunGmQiY4zhs4OwswCDRxU3R0NniUSs9hniT4X7FQjjR4AQI0j1yo G01KCC4ReiQylAYS7ReSsQ== 0001285495-05-000002.txt : 20050119 0001285495-05-000002.hdr.sgml : 20050119 20050119120307 ACCESSION NUMBER: 0001285495-05-000002 CONFORMED SUBMISSION TYPE: 424B2 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050119 DATE AS OF CHANGE: 20050119 SERIAL COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Protective Life Secured Trust 2005-1 CENTRAL INDEX KEY: 0001314737 STANDARD INDUSTRIAL CLASSIFICATION: LIFE INSURANCE [6311] STATE OF INCORPORATION: TN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 333-100944-61 FILM NUMBER: 05535464 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 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: 424B2 SEC ACT: 1933 Act SEC FILE NUMBER: 333-100944 FILM NUMBER: 05535463 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 424B2 1 pricingsupp54.htm PRICING SUPPLEMENT 2005-1

Pricing Supplement No. 54 Dated: January 18, 2005		Filed pursuant to Rule 424(b)(2)
(To Prospectus Dated December 15, 2003, and Prospectus Supplement dated June 9, 2004) This Pricing Supplement consists of 3 pages.		File No. 333-100944

Protective Life Insurance Company Depositor InterNotes® Issued Through Protective Life Secured Trust 2005-1



1. The Notes

Trade Date: 01/18/2005 Original Issue Date: 01/21/2005 Minimum Denominations/Increments: $1000/$1000

CUSIP	PRINCIPAL AMOUNT	PRICE TO PUBLIC	CONCESSION	NET PROCEEDS TO THE TRUST	INTEREST RATE
74367CCF0	$860,000	100%	$11,180.00	$848,820.00	4.450 %

INTEREST PAYMENT FREQUENCY	STATED MATURITY DATE	SURVIVOR'S OPTION	REDEMPTION YES/NO	REPAYMENT YES/NO
SEMI-ANNUAL	01/15/2013	YES	NO	NO

SECURITIES EXCHANGE LISTING YES/NO	FUNDING AGREEMENT NO.
NO	GA-6053


Terms of Survivor's Option:

Annual Put Limitation:		[X] $2,000,000 or 2%; or
		[ ] $__________________ or _______%
Individual Put Limitation:		[X] $250,000; or
		[ ] $__________________
Trust Put Limitation:		Not Applicable.

Optional Redemption Terms: Not Applicable.
Optional Redemption Dates:
Initial Redemption Percentage:
Annual Percentage Reduction (if any):

Redemption:		[ ] In whole only and not in part
		[ ] May be in whole or in part

Optional Repayment Terms: Not Applicable.
Optional Repayment Dates:

Optional Repayment:		[ ] In whole only and not in part
		[ ] May be in whole or in part

Form of trust: [X] Delaware statutory trust [ ] Delaware common law trust
Trust Expiration Date: 01/15/2013
Special Tax Considerations: Not Applicable.
Rating of Notes: S&P AA Moody's Aa3
Securities Exchange Listing: [X] No [ ] Yes, Name of Exchange:______________
Additional Terms: Not Applicable.

Agents:
Banc of America Securities LLC Incapital LLC A.G. Edwards & Sons, Inc. Bear, Stearns & Co. Inc. Charles Schwab & Co., Inc. Citigroup Edward D. Jones & Co., L.P. Fidelity Capital Markets, A Division of National Financial Services LLC Merrill Lynch & Co. Morgan Stanley Prudential Securities Raymond James RBC Dain Rauscher, Inc. UBS Financial Services, Inc. Wachovia Securities




2. The Funding Agreement(s)

Funding Agreement Issuer: Protective Life Insurance Company
Deposit Amount: $860,015
Issue Price: $848,835
Effective Date: 01/21/2005
Interest Rate: 4.450%

Interest Payment Frequency: SEMI-ANNUAL
Stated Maturity Date: 01/15/2013
Survivor's Option: [X] Yes [ ] No
If yes:

Annual Put Limitation:		[X] $2,000,000 or 2%; or
		[ ] $__________________ or _______%
Individual Put Limitation:		[X] $250,000; or
		[ ] $__________________
Trust Put Limitation:		Not Applicable.

Redemption: [ ] Yes [X] No
Early Redemption Dates:
Initial Redemption Percentage:
Annual Percentage Reduction (if any):

Redemption:		[ ] In whole only and not in part
		[ ] May be in whole or in part

Repayment: [ ] Yes [X] No
Repayment Dates:

Repayment:		[ ] In whole only and not in part
		[ ] May be in whole or in part

Rating of Funding Agreement: S&P AA Moody's Aa3

Additional Terms: Not Applicable.

3. Other Information

Rating of Program: S&P AA Moody's Aa3

Protective Life Insurance Company Insurer Financial Strength Rating: S&P AA Moody's Aa3

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