# EDGAR Filing Document

**Accession Number:** 0000914245
**File Stem:** 0001104659-23-025185
**Filing Date:** 2023-2
**Character Count:** 13065
**Document Hash:** cbb68c3d125aa468c96745cc845c8319
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-025185.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001104659-23-025185

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 12

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**EFFECTIVENESS DATE**: 20230224

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT
- **CENTRAL INDEX KEY:** 0000914245
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-267354
- **FILM NUMBER:** 23665005

**BUSINESS ADDRESS:**
- **STREET 1:** 2801 HIGHWAY 280 SOUTH
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35223
- **BUSINESS PHONE:** 2052683109

**MAIL ADDRESS:**
- **STREET 1:** 2801 HIGHWAY 280 SOUTH
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35223

## Series and Classes Contracts Data

### PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT (Series ID: S000010308)

---

|  |  |
|:---|:---|
| Class Name                               | Class ID   |
| Protective Dimensions V Variable Annuity | C000239629 |

---

## Series and Classes Contracts Data

### PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT (Series ID: S000010308)

| Class ID   | Class Name                               | Ticker Symbol   |
|:---|:---|:---|
| C000239629 | Protective Dimensions V Variable Annuity |  |

?xml version="1.0" encoding="ASCII"?

**Supplement dated February 24, 2023**

**(for Applications signed on or after March 13, 2023) to the** 

**Prospectuses dated December 21, 2022 for**

**Protective Dimensions V Variable Annuity**

**Issued by** 

**Protective Life Insurance Company** 

**Protective Variable Annuity Separate Account**

***This Rate Sheet Prospectus Supplement should be read carefully and retained with the Prospectus dated December 21, 2022 for the* Protective Dimensions V Variable Annuity. *You may obtain a current Prospectus by visiting www.protective.com/productprospectus or by calling 1-800-456-6330.***

This Rate Sheet Prospectus Supplement updates the Ongoing Fees and Expenses (annual charges) for the Contract provided in the "IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT" section of the Prospectus and Initial Summary Prospectus, respectively, taking into account the current fees for the optional benefits disclosed in this Rate Sheet Prospectus Supplement. This Rate Sheet Prospectus Supplement also provides:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● the current fee for each of the three optional death benefits as described in the "DEATH BENEFIT - Selecting a Death Benefit" section of the Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● the current SecurePay Fee as described in the "PROTECTED LIFETIME INCOME BENEFITS-SecurePay Fee" and "PROTECTED LIFETIME INCOME BENEFITS - THE SECUREPAY INCOME RIDER" sections of the Prospectus;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● the current Roll-up Percentage under the SecurePay Income rider as described in the "PROTECTED LIFETIME INCOME BENEFITS - The SecurePay Roll-up Value" section of the Prospectus; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● the current Maximum Withdrawal Percentage under the SecurePay Income rider as described in the "PROTECTIVE LIFETIME INCOME BENEFIT - Determining the Amount of Your SecurePay Withdrawals" section of the Prospectus.

This Supplement must be used in conjunction with an effective Protective Dimensions V Variable Annuity Prospectus or Initial Summary Prospectus.

This Rate Sheet Prospectus Supplement and the rates below are effective until superseded by a subsequent Rate Sheet Prospectus Supplement. For applications signed on or after March 13, 2023, and that we receive in Good Order, we will apply the rates in this supplement up until ten (10) calendar days after we issue a new rate sheet supplement. We must also receive at least the minimum initial Purchase Payment ($10,000) within the ten (10) calendar days. No new Rate Sheet Prospectus Supplement that supersedes a prior Rate Sheet Prospectus Supplement will become effective unless written notice of effectiveness of the new Rate Sheet Prospectus Supplement is given at least ten (10) business days in advance.

Before submitting your application for a Protective Dimensions V Variable Annuity, please obtain a current Rate Sheet Prospectus Supplement. To obtain a current Rate Sheet Prospectus Supplement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● Contact your financial professional

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● Contact us toll-free at 1-800-456-6330

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● Go to <u>https://protective.onlineprospectus.net/protective/ProtectiveDimensionsV/index.html</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

● Go to <u>www.sec.gov</u> under File No. 333-267354.

------

**IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT**

#### Ongoing Fees and Expenses (annual charges)
The table below describes the fees and expenses that you may pay *each year*, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay *each year* based on the options you have elected.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp; **Annual Fee&nbsp;&nbsp;&nbsp;&nbsp;**  | &nbsp;&nbsp; **Minimum&nbsp;&nbsp;&nbsp;&nbsp;**  | **Maximum**  |
| &nbsp;&nbsp; Base Contract <sup>(1)</sup>  | &nbsp;&nbsp; 1.18%  | 1.18%  |
| <br> Investment Options (Fund fees and expenses) <sup>(2)</sup>  | 0.35%  | 1.44%  |
| <br> Optional benefits available for an additional charge (for a single optional benefit, if elected)  | &nbsp;&nbsp;&nbsp;&nbsp;<br> 0.20% <sup>(3)</sup>  | 1.50% <sup>(4)</sup>  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *(1) We calculate the Base Contract fee by dividing the total amount we receive from the annual contract maintenance fee, the mortality and expense risk charge, the administration charge, and the Premium Based Charge for the last fiscal year by the total average net assets attributable to the Contracts for that year. The Premium Based Charge is assessed during the first seven years after each Purchase Payment is made and is based upon the cumulative amount of Purchase Payments. (See "CHARGES AND DEDUCTIONS.")*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2) As a percentage of Fund assets.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3) As an annualized percentage of the death benefit value on each Monthly Anniversary Date, beginning on the 1st Monthly Anniversary Date. This charge is the current charge for the Return of Purchase Payments Death Benefit, the least expensive optional benefit available for an additional charge.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4) As an annualized percentage of the Benefit Base on each Monthly Anniversary Date, beginning on the 1st Monthly Anniversary Date following election of the rider. This charge is the current charge for the SecurePay Income Rider under the RightTime Option, the most expensive optional benefit available for an additional charge.

Because your Contract is customizable, the options and benefits you choose can affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year, based on current charges. These estimates assume that you do not take any withdrawals from the Contract, **which could add surrender charges that substantially increase costs.**

------

---

| | |
|:---|:---|
| &nbsp;&nbsp; **Lowest Annual Cost: $1,207**  | **Highest Annual Cost: $4,706**  |
| &nbsp;&nbsp; Assumes:  | &nbsp;&nbsp; Assumes:  |
| ● Investment of $100,000 <br>● 5% annual appreciation <br>● Least expensive combination of Fund fees and expenses <br>● No optional benefits <br>● No additional Purchase Payments, transfers or withdrawals <br>● No sales charges <br>| ● Investment of $100,000 <br>● 5% annual appreciation <br>● Most expensive combination of optional benefits and Fund fees and expenses <br>● No additional Purchase Payments, transfers or withdrawals <br>● No sales charges <br>|
| For additional information about annual charges, see "FEE TABLE" and "CHARGES AND DEDUCTIONS" in the Prospectus.  | For additional information about annual charges, see "FEE TABLE" and "CHARGES AND DEDUCTIONS" in the Prospectus.  |

---

**OPTIONAL DEATH BENEFIT FEES**

The current fee for each of the three optional death benefits available under your Contract are as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp; Return of Purchase Payments Death Benefit Fee (as an annualized percentage of the death benefit value on each Monthly Anniversary Date, beginning on the 1st Monthly Anniversary Date)  | &nbsp;&nbsp; 0.20%  |
| &nbsp;&nbsp; Maximum Anniversary Value Death Benefit Fee (as an annualized percentage of the death benefit value on each Monthly Anniversary Date, beginning on the 1st Monthly Anniversary Date)  | &nbsp;&nbsp; 0.35%  |
| &nbsp;&nbsp; Maximum Quarterly Value Death Benefit Fee (as an annualized percentage of the death benefit value on each Monthly Anniversary Date, beginning on the 1st Monthly Anniversary Date)  | &nbsp;&nbsp; 0.40%  |

---

**SECUREPAY FEE**

The current SecurePay Fee applicable to your Contract is as follows:

---

| | |
|:---|:---|
| &nbsp;&nbsp; Purchase of SecurePay Income rider at Contract Purchase  | &nbsp;&nbsp; 1.50%  |
| &nbsp;&nbsp; Purchase of SecurePay Income rider under RightTime  | &nbsp;&nbsp; 1.50%  |

---

The Roll-up Percentage and the Maximum Withdrawal Percentage applicable to your Contract will not change for the life of your Contract.

------

**ROLL-UP PERCENTAGE**

**7.00%**

**MAXIMUM WITHDRAWAL PERCENTAGE FOR SECUREPAY INCOME**

---

| | | |
|:---|:---|:---|
| **Age of (Younger) Covered Person on the Benefit Election Date**  | **(One Covered Person)** <br> **Withdrawal Percentage -**  | **(Two Covered Persons)** <br> **Withdrawal Percentage -**  |
| **59.5**  | **4.80%**  | **4.30%**  |
| **61**  | **4.85%**  | **4.35%**  |
| **62**  | **4.95%**  | **4.45%**  |
| **63**  | **5.30%**  | **4.80%**  |
| **64**  | **5.55%**  | **5.05%**  |
| **65**  | **5.65%**  | **5.15%**  |
| **66**  | **5.70%**  | **5.20%**  |
| **67**  | **5.75%**  | **5.25%**  |
| **68**  | **5.80%**  | **5.30%**  |
| **69**  | **5.85%**  | **5.35%**  |
| **70**  | **5.90%**  | **5.40%**  |
| **71**  | **5.95%**  | **5.45%**  |
| **72**  | **6.00%**  | **5.50%**  |
| **73**  | **6.05%**  | **5.55%**  |
| **74**  | **6.10%**  | **5.60%**  |
| **75**  | **6.15%**  | **5.65%**  |
| **76**  | **6.20%**  | **5.70%**  |
| **77**  | **6.25%**  | **5.75%**  |
| **78**  | **6.30%**  | **5.80%**  |
| **79**  | **6.35%**  | **5.85%**  |
| **80**  | **6.40%**  | **5.90%**  |
| **81**  | **6.45%**  | **5.95%**  |
| **82**  | **6.50%**  | **6.00%**  |
| **83**  | **6.55%**  | **6.05%**  |
| **84**  | **6.60%**  | **6.10%**  |
| **85**  | **6.65%**  | **6.15%**  |
| **86**  | **6.70%**  | **6.20%**  |
| **87**  | **6.75%**  | **6.25%**  |
| **88**  | **6.80%**  | **6.30%**  |
| **89**  | **6.85%**  | **6.35%**  |
| **90+**  | **6.90%**  | **6.40%**  |

---

*If you have any questions regarding this Rate Sheet Prospectus Supplement, please contact your investment professional or us toll free at 1-800-456-6330.* **Please keep this Rate Sheet Prospectus Supplement for future reference.**

------