# EDGAR Filing Document

**Accession Number:** 0000948923
**File Stem:** 0001104659-23-005889
**Filing Date:** 2023-1
**Character Count:** 10161
**Document Hash:** b4de020327e4234074a13994cbf070d8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-005889.hdr.sgml**: 20230123

**ACCESSION NUMBER**: 0001104659-23-005889

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230123

**DATE AS OF CHANGE**: 20230123

**EFFECTIVENESS DATE**: 20230123

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PROTECTIVE VARIABLE LIFE SEPARATE ACCOUNT
- **CENTRAL INDEX KEY:** 0000948923
- **IRS NUMBER:** 630169720
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-267465
- **FILM NUMBER:** 23545176

**BUSINESS ADDRESS:**
- **STREET 1:** 2801
- **STREET 2:** 2801 HIGHWAY 280 SOUTH
- **CITY:** BIRMINGHAM
- **STATE:** AL
- **ZIP:** 35223
- **BUSINESS PHONE:** 2058683586

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

## Series and Classes Contracts Data

### PROTECTIVE VARIABLE LIFE SEPARATE ACCOUNT (Series ID: S000010421)

---

|  |  |
|:---|:---|
| Class Name                                | Class ID   |
| Protective Investors Benefit Advisory VUL | C000239749 |

---

## Series and Classes Contracts Data

### PROTECTIVE VARIABLE LIFE SEPARATE ACCOUNT (Series ID: S000010421)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000239749 | Protective Investors Benefit Advisory VUL |  |

**Supplement dated January 23, 2023**

**to the Prospectus dated December 23, 2022 for**

**Protective Investors Benefit Advisory VUL**

**Policies Issued by** 

**Protective Life Insurance Company** 

**Protective Variable Life Separate Account**

*This Supplement amends certain information contained in the above referenced variable product Prospectus and Initial Summary Prospectus. Please read this Supplement carefully and retain it for future reference.*

**<u>Effective January 23, 2023, your "Ongoing Fees and Expenses (annual charges)" table is replaced with the following:</u>**

---

| | | |
|:---|:---|:---|
| **Annual Fee** | **Minimum** | **Maximum** |
| Fund Options (Fund Fees and expenses) *<sup>(1)</sup>* | 0.03% | 0.89% |

---

*<sup>(1)</sup>* As a percentage of Fund assets.

 

For additional information about ongoing fees and expenses, see "Charges and Deductions" in your prospectus.

**<u>Effective January 23, 2023, your "Annual Fund Expenses" table is replaced with the following:</u>**

**Annual Fund Expenses**

---

| | | |
|:---|:---|:---|
| | **Minimum** | **Maximum** |
| Total Annual Fund Expenses | 0.03% | 0.89% <sub>(1)</sub> |
| (expenses that are deducted from Fund assets, including management fees, distribution and/or service 12b-1 fees, and other expenses) |  |  |

---

*<sup>(1)</sup> The range of Annual Fund Expenses shown here does not take into account contractual and voluntary arrangements under which the Funds' advisers currently reimburse Fund expenses or waive fees. Please see the prospectus for each Fund for more information about that Fund's expenses.*

 

**<u>Effective January 23, 2023, your current fund appendix is replaced with the following:</u>**

**FUND APPENDIX**

**FUNDS AVAILABLE UNDER THE POLICY**

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.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Asset <br> Allocation <br> Type** | <br> **Portfolio Company - Investment Adviser;**<br> ***Sub-Adviser(s), as applicable*** | <br> **Current<br> Expenses** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Returns**<br> ***(as of 12/31/2021)*** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Returns**<br> ***(as of 12/31/2021)*** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Average Annual Total Returns**<br> ***(as of 12/31/2021)*** |
| **Asset <br> Allocation <br> Type** | <br> **Portfolio Company - Investment Adviser;**<br> ***Sub-Adviser(s), as applicable*** | <br> **Current<br> Expenses** | **1 Year** | **5 Year** | **10 Year** |
| Allocation | American Funds IS® Asset Allocation 1 | 0.30% | 15.40% | 11.99% | 11.60% |
| International Equity | American Funds IS® Global Growth 1(1) | 0.42% | 16.72% | 20.00% | 15.95% |
| U.S. Equity | American Funds IS® Growth-Income 1 | 0.29% | 24.42% | 16.68% | 15.70% |
| International Equity | American Funds IS® New World 1(1) | 0.57% | 5.16% | 13.53% | 8.94% |
| Allocation | BlackRock Global Allocation V.I. I - BlackRock (Singapore) Limited(1) | 0.75% | 6.67% | 9.95% | 7.94% |
| Allocation | DFA VA Global Moderate Allocation Institutional(1) | 0.35% | 14.20% | 9.87% |  |
| International Equity | DFA VA International Small Portfolio - Dimensional Fund Advisors Ltd; *DFA Australia Limited* | 0.40% | 14.56% | 10.12% | 10.04% |
| International Equity | DFA VA International Value Portfolio - Dimensional Fund Advisors Ltd; *DFA Australia Limited* | 0.28% | 18.11% | 7.00% | 6.52% |
| Taxable Bond | DFA VA Short-Term Fixed Portfolio - Dimensional Fund Advisors Ltd; *DFA Australia Limited* | 0.12% | -0.19% | 1.10% | 0.78% |
| U.S. Equity | DFA VA US Large Value | 0.21% | 27.04% | 10.52% | 13.50% |
| U.S. Equity | DFA VA US Targeted Value | 0.29% | 39.68% | 10.45% | 13.60% |
| Taxable Bond | DFA VIT Inflation-Protected Securities Institutional - Dimensional Fund Advisors Ltd; *DFA Australia Limited* | 0.11% | 5.58% | 5.44% |  |
| Allocation | Fidelity<sup>®</sup> VIP Balanced Initial Class - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.46% | 18.26% | 14.98% | 12.65% |
| U.S. Equity | Fidelity<sup>®</sup> VIP Growth Opportunities Initial - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.63% | 11.94% | 32.09% | 22.94% |
| Taxable Bond | Fidelity<sup>®</sup> VIP Investment Grade Bond Initial - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.39% | -0.61% | 4.33% | 3.54% |
| U.S. Equity | Fidelity<sup>®</sup> VIP Mid Cap Initial - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.61% | 25.60% | 13.60% | 13.29% |
| U.S. Equity | ClearBridge Variable Mid Cap I - ClearBridge Investments, LLC | 0.82% | 28.71% | 14.26% | 14.33% |
| U.S. Equity | ClearBridge Variable Small Cap Growth I - ClearBridge Investments, LLC | 0.80% | 12.61% | 21.34% | 17.14% |
| U.S. Equity | Goldman Sachs VIT Core Fixed Income Institutional(1) | 0.42% | -2.60% | 3.83% |  |
| U.S. Equity | Goldman Sachs VIT Mid Cap Value Institutional(1) | 0.84% | 30.95% | 13.17% | 13.08% |
| International Equity | Invesco V.I. Global I | 0.78% | 15.49% | 18.18% | 14.24% |
| Money Market | Invesco V.I. US Government Money Portfolio I | 0.52% | 0.01% | 0.73% | 0.37% |
| Sector Equity | Janus Henderson VIT Global Technology & Innovation Institutional | 0.73% | 18.01% | 30.62% | 23.28% |
| Taxable Bond | Lord Abbett Series Bond-Debenture VC | 0.89% | 3.28% | 5.66% | 6.33% |
| Taxable Bond | PIMCO VIT Real Return Institutional | 0.52% | 5.74% | 5.49% | 3.21% |
| Taxable Bond | PIMCO VIT Total Return Institutional | 0.50% | -1.12% | 4.09% | 3.59% |
| U.S. Equity | Putnam VT Sustainable Leaders IA - Putnam Investments Limited | 0.64% | 23.87% | 22.82% | 18.58% |
| U.S. Equity | Schwab<sup>®</sup> S&P 500 Index Portfolio | 0.03% | 28.67% | 18.42% | 16.39% |
| Allocation | TOPS<sup>®</sup> Aggressive Growth ETF 1 - Milliman Financial Risk Management LLC | 0.30% | 19.66% | 12.95% | 11.73% |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Allocation | TOPS<sup>®</sup> Conservative ETF 1 - Milliman Financial Risk Management LLC | 0.33% | 6.74% | 6.01% | 5.16% |
| Allocation | TOPS<sup>®</sup> Growth ETF 1 - Milliman Financial Risk Management LLC | 0.30% | 16.89% | 11.59% | 10.41% |
| Allocation | TOPS<sup>®</sup> Moderate Growth ETF 1 - Milliman Financial Risk Management LLC | 0.30% | 13.12% | 9.80% | 8.78% |
| Allocation | Vanguard VIF Balanced | 0.20% | 19.02% | 12.32% | 11.40% |
| U.S. Equity | Vanguard VIF Capital Growth | 0.34% | 21.54% | 18.12% | 17.35% |
| Allocation | Vanguard VIF Conservative Allocation | 0.13% | 5.99% | 8.09% | 7.16% |
| U.S. Equity | Vanguard VIF Equity Income | 0.30% | 25.33% | 12.35% | 13.06% |
| U.S. Equity | Vanguard VIF Equity Index | 0.14% | 28.55% | 18.31% | 16.39% |
| U.S. Equity | Vanguard VIF Growth | 0.41% | 17.86% | 24.24% | 19.15% |
| International Equity | Vanguard VIF International | 0.38% | -1.54% | 20.47% | 13.57% |
| U.S. Equity | Vanguard VIF Mid-Cap Index | 0.17% | 24.36% | 15.72% | 14.97% |
| Sector Equity | Vanguard VIF Real Estate Index | 0.26% | 40.21% | 11.25% | 11.43% |
| Taxable Bond | Vanguard VIF Total Bond Market Index | 0.14% | -1.72% | 3.50% | 2.77% |
| U.S. Equity | Vanguard VIF Total Stock Market Index | 0.13% | 25.64% | 17.79% | 16.13% |

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&nbsp;&nbsp;&nbsp;&nbsp;*(1)* *These Funds and their investment advisers have entered into contractual fee waivers or expense reimbursement arrangements. These temporary fee reductions are reflected in their annual expenses. Those contractual arrangements are designed to reduce total annual Fund operating expenses for Policy Owners and will continue past the current year.*