Protective Fixed Annuities

Annuity Interest Rate Notification

Protective Fixed Annuities

Rates are set every two weeks and may change without notice. Depending on market conditions, rates may be set more frequently.

Protective? Secure Saver

Available in all states except NY. Visit the Products & Solutions section of for current state approvals.

Rates effective -

1/12/2021

Guarantee Period

5-Year

7-Year

Contract Value $75,000+

1.50%

1.55%

Contract Value $25,000 ? $74,999

1.40%

1.45%

Contract Value Under $25,000

1.00%

1.05%

Protective Secure Saver Fixed Annuity is a fixed, limited flexible premium, deferred annuity contact issued under policy form series LDA-P-2012. Limits may apply. Policy form numbers, product features and availability may vary by state.

Protective? Income Creator

Available in all states except NY. Visit the Products & Solutions section of for current state approvals.

Rates effective -

1/12/2021

Guarantee Period

7-Year

Interest Rate

1.20%

Protective Income Creator Fixed Annuity is a fixed, single premium, deferred annuity contract with a limited market value adjustment, issued under contract form series LDA-P-2013. Contract form numbers, product availability and features may vary by state.

Protective Immediate Annuities

Protective ProPayer? Income (SPIA)

Available in all states except NY.

Rates effective -

1/12/2021

Payout Option

10-Year Period Certain

15-Year Period Certain

20-Year Period Certain

Life and 10-Year Period Certain

Life and 20-Year Period Certain

Monthly Payment*

$842.60

$592.64

$470.36

$443.62

$404.72

* Monthly payment for a 65-year-old male with a non-qualified premium of $100,000, a one month payment delay, and 0% premium tax. Premium tax will vary depending on the state, and may cause the monthly amount to be different. (Net of any applicable premium tax).

ProPayer Income is a single premium immediate annuity contract. Policy form series IPD-2112. Policy form numbers, product features and availability may vary by state.

Protective ProPayer? Income NY (SPIA)

Available only in NY.

Rates effective -

1/12/2021

Payout Option

10-Year Period Certain

15-Year Period Certain

20-Year Period Certain

Life and 10-Year Period Certain

Life and 20-Year Period Certain

Monthly Payment*

$842.60

$592.64

$470.36

$443.62

$404.72

* Monthly payment for a 65-year-old male with a non-qualified premium of $100,000, a one month payment delay, and 0% premium tax. ProPayer Income NY is a single premium immediate annuity contract. Policy form number AF-2112.

CABD.5055 (07.20)

page 1 of 13

For Financial Professional Use Only. Not For Use With Consumers.

Protective? Asset Builder II

Indexed Annuity

Current Interest Rates

Rates Effective: 1/12/2021

Rates are set every two weeks and may change without notice. Depending on market conditions, rates may be set more frequently. Withdrawals and early surrenders will lower returns.

WITHOUT RETURN OF PREMIUM (ROP)1

5-YEAR WITHDRAWAL CHARGE SCHEDULE

Index

Interest Crediting Strategy

S&P 500? Index2

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Cap ? 1 Year3

Pt-to-Pt with Cap-Guaranteed

for Term

Pt-toPt with Trigger4

J.P. Morgan MojaveSM Index

Citi Flexible Allocation 6 Excess Return

Index

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Participation Rate ?

2-Year5

Contract Value $100,000+ 20.00%

3.35%

3.25%

2.80%

50.00%

65.00%

Contract Value $50,000 ? $99,999

Contract Value Under $50,000

16.00% 12.00%

2.55% 1.75%

2.45% 1.65%

2.00% 1.35%

45.00% 35.00%

60.00% 50.00%

Fixed Rate

1.60% 1.40% 1.10%

1 Contracts including Return of Premium (ROP) feature may earn a lower interest rate than those without it. 2 Amounts allocated to any of the following strategies earn interest in arrears based, in part, on the performance of the S&P 500? Index (without dividends). Interest,

if any, is credited at the end of each crediting period. 3 This strategy credits interest when index performance is positive -- up to a maximum of the interest rate cap in effect for that year. When index performance is flat

or negative, no interest is credited for that year. 4 This strategy credits a predetermined trigger interest rate when index performance is flat or positive. When index performance is negative, no interest is credited

for that year. 5 Amounts allocated to this strategy earn interest in arrears, based in part on the performance of the Citi Flexible Allocation 6 Excess Return Index. The crediting

period is two years. This strategy credits interest by multiplying the index performance by the participation rate. A positive result is the interest rate for that term. If the result of that calculation is 0% or negative, no indexed interest will be credited for that term. This strategy has a participation rate declared in advance, subject to the minimum participation rate, and is guaranteed for each two-year crediting period. The crediting strategy will not reduce the contract value, even if the index performance is flat or negative.

Protective is a registered trademark of Protective Life Insurance Company, Asset Builder II is a trademark of Protective Life Insurance Company.

All non-guaranteed components of the indexing formula may change and could be different in the future. Indexed interest could be less than that earned in a traditional fixed annuity and could be zero. For product details, benefits, limitations and exclusions, please consult the contract, product guide and disclosure statement. These documents describe the terms and conditions that control the insurance company's contractual obligations.

Annuities are long-term insurance contracts intended for retirement planning.

All payments and guarantees are subject to the claims-paying ability of Protective Life Insurance Company. Neither Protective Life nor its representatives offer legal or tax advice. Purchasers should consult with their legal or tax advisor regarding their individual situations before making any tax-related decisions.

Protective Asset Builder II Indexed Annuity is a flexible premium deferred indexed annuity contract issued under policy form series FIA-P-2018. Protective Asset Builder II Indexed Annuity is issued by Protective Life Insurance Company (PLICO) located in Brentwood, TN. Contract form numbers, product availability and features may vary by state.

Protective Asset Builder II Indexed Annuity is not an investment in any index, is not a security or stock market investment, does not participate in any stock or equity investment, and does not contain dividends.

CABD.5055 (07.20)

page 2 of 13

For Financial Professional Use Only. Not For Use With Consumers.

PROTECTIVE? ASSET BUILDER II INDEXED ANNUITY

7-YEAR WITHDRAWAL CHARGE SCHEDULE

Index

S&P 500? Index2

Interest Crediting Strategy

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Cap ? 1 Year3

Pt-to-Pt with Cap-Guaranteed

for Term

Contract Value $100,000+

Contract Value $50,000 ? $99,999

21.00% 17.00%

3.45% 2.65%

3.35% 2.55%

Contract Value Under $50,000

13.00%

1.90%

1.80%

Pt-toPt with Trigger4 2.90%

2.10%

1.40%

J.P. Morgan MojaveSM Index

Citi Flexible Allocation 6 Excess Return

Index

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Participation Rate ?

2-Year5

52.00%

70.00%

47.00%

65.00%

37.00%

55.00%

Fixed Rate

1.70% 1.50% 1.15%

A minimum surrender value is guaranteed when the contract is terminated due to full surrender, death, or annuitization. This amount is calculated by: ? Taking 87.5% of aggregate purchase payments accumulated at the contract's non-forfeiture rate, which cannot be less than 1% or more than 3%, and ? Subtracting any prior aggregate withdrawals (including withdrawal charges) accumulated at the non-forfeiture rate.

1 Contracts including Return of Premium (ROP) feature may earn a lower interest rate than those without it. 2 Amounts allocated to any of the following strategies earn interest in arrears based, in part, on the performance of the S&P 500? Index (without dividends). Interest,

if any, is credited at the end of each crediting period. 3 This strategy credits interest when index performance is positive -- up to a maximum of the interest rate cap in effect for that year. When index performance is flat

or negative, no interest is credited for that year. 4 This strategy credits a predetermined trigger interest rate when index performance is flat or positive. When index performance is negative, no interest is credited

for that year. 5 Amounts allocated to this strategy earn interest in arrears, based in part on the performance of the Citi Flexible Allocation 6 Excess Return Index. The crediting

period is two years. This strategy credits interest by multiplying the index performance by the participation rate. A positive result is the interest rate for that term. If the result of that calculation is 0% or negative, no indexed interest will be credited for that term. This strategy has a participation rate declared in advance, subject to the minimum participation rate, and is guaranteed for each two-year crediting period. The crediting strategy will not reduce the contract value, even if the index performance is flat or negative.

Protective is a registered trademark of Protective Life Insurance Company, Asset Builder II is a trademark of Protective Life Insurance Company.

All non-guaranteed components of the indexing formula may change and could be different in the future. Indexed interest could be less than that earned in a traditional fixed annuity and could be zero. For product details, benefits, limitations and exclusions, please consult the contract, product guide and disclosure statement. These documents describe the terms and conditions that control the insurance company's contractual obligations.

Annuities are long-term insurance contracts intended for retirement planning.

All payments and guarantees are subject to the claims-paying ability of Protective Life Insurance Company. Neither Protective Life nor its representatives offer legal or tax advice. Purchasers should consult with their legal or tax advisor regarding their individual situations before making any tax-related decisions.

Protective Asset Builder II Indexed Annuity is a flexible premium deferred indexed annuity contract issued under policy form series FIA-P-2018. Protective Asset Builder II Indexed Annuity is issued by Protective Life Insurance Company (PLICO) located in Brentwood, TN. Contract form numbers, product availability and features may vary by state.

Protective Asset Builder II Indexed Annuity is not an investment in any index, is not a security or stock market investment, does not participate in any stock or equity investment, and does not contain dividends.

CABD.5055 (07.20)

page 3 of 13

For Financial Professional Use Only. Not For Use With Consumers.

PROTECTIVE? ASSET BUILDER II INDEXED ANNUITY

WITH RETURN OF PREMIUM (ROP)1

5-YEAR WITHDRAWAL CHARGE SCHEDULE

Index

Interest Crediting Strategy

S&P 500? Index2

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Cap ? 1 Year3

Pt-to-Pt with Cap-Guaranteed

for Term

Pt-toPt with Trigger4

J.P. Morgan MojaveSM Index

Citi Flexible Allocation 6 Excess Return

Index

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Participation Rate ?

2-Year5

Contract Value $100,000+ 18.00%

2.80%

2.70%

2.25%

45.00%

60.00%

Contract Value $50,000 ? $99,999

Contract Value Under $50,000

14.00% 10.00%

2.00% 1.55%

1.90% 1.50%

1.45% 1.25%

35.00% 25.00%

50.00% 40.00%

Fixed Rate

1.50% 1.35% 1.00%

1 Contracts including Return of Premium (ROP) feature may earn a lower interest rate than those without it. 2 Amounts allocated to any of the following strategies earn interest in arrears based, in part, on the performance of the S&P 500? Index (without dividends). Interest,

if any, is credited at the end of each crediting period. 3 This strategy credits interest when index performance is positive -- up to a maximum of the interest rate cap in effect for that year. When index performance is flat

or negative, no interest is credited for that year. 4 This strategy credits a predetermined trigger interest rate when index performance is flat or positive. When index performance is negative, no interest is credited

for that year. 5 Amounts allocated to this strategy earn interest in arrears, based in part on the performance of the Citi Flexible Allocation 6 Excess Return Index. The crediting

period is two years. This strategy credits interest by multiplying the index performance by the participation rate. A positive result is the interest rate for that term. If the result of that calculation is 0% or negative, no indexed interest will be credited for that term. This strategy has a participation rate declared in advance, subject to the minimum participation rate, and is guaranteed for each two-year crediting period. The crediting strategy will not reduce the contract value, even if the index performance is flat or negative.

Protective is a registered trademark of Protective Life Insurance Company, Asset Builder II is a trademark of Protective Life Insurance Company.

All non-guaranteed components of the indexing formula may change and could be different in the future. Indexed interest could be less than that earned in a traditional fixed annuity and could be zero. For product details, benefits, limitations and exclusions, please consult the contract, product guide and disclosure statement. These documents describe the terms and conditions that control the insurance company's contractual obligations.

Annuities are long-term insurance contracts intended for retirement planning.

All payments and guarantees are subject to the claims-paying ability of Protective Life Insurance Company. Neither Protective Life nor its representatives offer legal or tax advice. Purchasers should consult with their legal or tax advisor regarding their individual situations before making any tax-related decisions.

Protective Asset Builder II Indexed Annuity is a flexible premium deferred indexed annuity contract issued under policy form series FIA-P-2018. Protective Asset Builder II Indexed Annuity is issued by Protective Life Insurance Company (PLICO) located in Brentwood, TN. Contract form numbers, product availability and features may vary by state.

Protective Asset Builder II Indexed Annuity is not an investment in any index, is not a security or stock market investment, does not participate in any stock or equity investment, and does not contain dividends.

CABD.5055 (07.20)

page 4 of 13

For Financial Professional Use Only. Not For Use With Consumers.

PROTECTIVE? ASSET BUILDER II INDEXED ANNUITY

7-YEAR WITHDRAWAL CHARGE SCHEDULE

Index

S&P 500? Index2

Interest Crediting Strategy

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Cap ? 1 Year3

Pt-to-Pt with Cap-Guaranteed

for Term

Contract Value $100,000+ 19.00%

2.90%

2.80%

Contract Value $50,000 ? $99,999

15.00%

2.10%

2.00%

Contract Value Under $50,000

11.00%

1.60%

1.55%

Pt-toPt with Trigger4 2.35%

1.55%

1.30%

J.P. Morgan MojaveSM Index

Citi Flexible Allocation 6 Excess Return

Index

Pt-to-Pt with Participation

Rate

Pt-to-Pt with Participation Rate ?

2-Year5

47.00%

65.00%

37.00%

55.00%

28.00%

45.00%

Fixed Rate

1.55% 1.40% 1.05%

A minimum surrender value is guaranteed when the contract is terminated due to full surrender, death, or annuitization. This amount is calculated by: ? Taking 87.5% of aggregate purchase payments accumulated at the contract's non-forfeiture rate, which cannot be less than 1% or more than 3%, and ? Subtracting any prior aggregate withdrawals (including withdrawal charges) accumulated at the non-forfeiture rate.

1 Contracts including Return of Premium (ROP) feature may earn a lower interest rate than those without it. 2 Amounts allocated to any of the following strategies earn interest in arrears based, in part, on the performance of the S&P 500? Index (without dividends). Interest,

if any, is credited at the end of each crediting period. 3 This strategy credits interest when index performance is positive -- up to a maximum of the interest rate cap in effect for that year. When index performance is flat

or negative, no interest is credited for that year. 4 This strategy credits a predetermined trigger interest rate when index performance is flat or positive. When index performance is negative, no interest is credited

for that year. 5 Amounts allocated to this strategy earn interest in arrears, based in part on the performance of the Citi Flexible Allocation 6 Excess Return Index. The crediting

period is two years. This strategy credits interest by multiplying the index performance by the participation rate. A positive result is the interest rate for that term. If the result of that calculation is 0% or negative, no indexed interest will be credited for that term. This strategy has a participation rate declared in advance, subject to the minimum participation rate, and is guaranteed for each two-year crediting period. The crediting strategy will not reduce the contract value, even if the index performance is flat or negative.

Protective is a registered trademark of Protective Life Insurance Company, Asset Builder II is a trademark of Protective Life Insurance Company.

All non-guaranteed components of the indexing formula may change and could be different in the future. Indexed interest could be less than that earned in a traditional fixed annuity and could be zero. For product details, benefits, limitations and exclusions, please consult the contract, product guide and disclosure statement. These documents describe the terms and conditions that control the insurance company's contractual obligations.

Annuities are long-term insurance contracts intended for retirement planning.

All payments and guarantees are subject to the claims-paying ability of Protective Life Insurance Company. Neither Protective Life nor its representatives offer legal or tax advice. Purchasers should consult with their legal or tax advisor regarding their individual situations before making any tax-related decisions.

Protective Asset Builder II Indexed Annuity is a flexible premium deferred indexed annuity contract issued under policy form series FIA-P-2018. Protective Asset Builder II Indexed Annuity is issued by Protective Life Insurance Company (PLICO) located in Brentwood, TN. Contract form numbers, product availability and features may vary by state.

Protective Asset Builder II Indexed Annuity is not an investment in any index, is not a security or stock market investment, does not participate in any stock or equity investment, and does not contain dividends.

CABD.5055 (07.20)

page 5 of 13

For Financial Professional Use Only. Not For Use With Consumers.

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