# EDGAR Filing Document

**Accession Number:** 0000914245
**File Stem:** 0001104659-23-004614
**Filing Date:** 2023-1
**Character Count:** 85874
**Document Hash:** afbae7fc0fd280c7af8d4c646264e5a9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-004614.hdr.sgml**: 20230118

**ACCESSION NUMBER**: 0001104659-23-004614

**CONFORMED SUBMISSION TYPE**: 497VPI

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230118

**DATE AS OF CHANGE**: 20230118

**EFFECTIVENESS DATE**: 20230118

**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:** 497VPI
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-267354
- **FILM NUMBER:** 23534666

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

[**TABLE OF CONTENTS**](#TOC)

#### Summary Prospectus for New Investors

#### December 21, 2022

---

| | |
|:---|:---|
| ***Protective Dimensions V Variable Annuity***  | *Protective Life Insurance Company <br>Protective Variable Annuity Separate Account <br>P.O. Box 10648 <br>Birmingham, Alabama 35202-0648 <br>Telephone: 1-800-456-6330 <br>Fax: 205-268-6479 <br>www.protective.com*  |

---

This Summary Prospectus summarizes key features of the Protective Dimensions V Variable Annuity Contract (the "Contract"). You should read this Summary Prospectus carefully, particularly the section titled Important Information You Should Consider About the Contract.

Before you invest, you should review the Prospectus for the Protective Dimensions V Variable Annuity Contract (the "Prospectus"), which contains more information about the Contract, including its features, benefits, and risks. You can find the Prospectus and other information about the Contract online at www.protective.com/productprospectus. You can also obtain this information at no cost by calling 1-800-456-6330 or by sending an email request to prospectus@protective.com.

YOU MAY CANCEL YOUR CONTRACT WITHIN 10 DAYS OF RECEIVING IT

WITHOUT PAYING FEES OR PENALTIES.

In some states, this cancellation period may be longer. Upon cancellation, you will receive either a full refund of the amount you paid with your application or your total Contract Value. You should review the prospectus, or consult with your investment professional, for additional information about the specific cancellation terms that apply.

Additional information about certain investment products, including variable annuities, has been prepared by the Securities and Exchange Commission's staff and is available at Investor.gov.

*The SEC has not approved or disapproved these securities or passed upon the adequacy of this Summary Prospectus. Any representation to the contrary is a criminal offense.*

PRO.DIMENSIONSV.12.22 C000239629

------

[**TABLE OF CONTENTS**](#TOC)

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| [Special Terms](#idSPECIALTERM22019)  | [3](#idSPECIALTERM22019)  |
|  [IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE CONTRACT](#idIMPORTANTIN62578)  | [6](#idIMPORTANTIN62578)  |
| [OVERVIEW OF THE VARIABLE ANNUITY CONTRACT](#idOVERVIEWOFT7374)  | [9](#idOVERVIEWOFT7374)  |
| &nbsp;&nbsp;&nbsp; [Benefits Available Under the Contract](#idBAUC18690)  | [10](#idBAUC18690)  |
| &nbsp;&nbsp;&nbsp; [Buying the Contract](#idBC6046)  | [13](#idBC6046)  |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp; [Making Withdrawals: <br>Accessing the Money in Your Contract](#idMWAMYC7083)  | [14](#idMWAMYC7083)  |
| [ADDITIONAL INFORMATION ABOUT FEES](#idADDITIONALI50421)  | [16](#idADDITIONALI50421)  |
|  [FUND APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT](#idFUNDAPPENDI68647)  | [FUND-1](#idFUNDAPPENDI68647)  |

---

------

[**TABLE OF CONTENTS**](#TOC)

#### SPECIAL TERMS
**"We", "us", "our", "Protective Life", and "Company"** refer to Protective Life Insurance Company. "You", "your" and "Owner" refer to the person(s) who has been issued a Contract.

**Accumulation Unit** A unit of measure used to calculate the value of a Sub-Account prior to the Annuity Date.

**Administrative Office** Protective Life Insurance Company, P.O. Box 10648, Birmingham, Alabama 35202-0648 (for Written Notice sent by U.S. postal service) or Protective Life Insurance Company, 2801 Highway 280 South, Birmingham, Alabama 35223 (for Written Notice sent by a nationally recognized overnight delivery service).

**Annual Withdrawal Amount or AWA** The maximum amount that may be withdrawn from the Contract under the SecurePay Income rider each Contract Year after the Benefit Election Date without reducing the Benefit Base.

**Annuity Date** The date as of which the Annuity Value is applied to an Annuity Option.

**Annuity Option** The payout option under which the Company makes annuity income payments.

**Annuity Value** The amount we apply to the Annuity Option you have selected. Generally, this amount is your Contract Value less any applicable fees, charges and premium taxes.

**Assumed Investment Return** The assumed annual rate of return used to calculate the amount of the variable income payments.

**Benefit Base** If you select a SecurePay rider, the Benefit Base is used to determine the amount available to withdraw under the rider.

**Benefit Election Date** The date you choose to start your SecurePay Withdrawals.

**Contract** The Protective Dimensions V Variable Annuity, a flexible premium, deferred, variable and fixed annuity contract.

**Contract Anniversary** The same month and day as the Issue Date in each subsequent year of the Contract.

**Contract Value** Before the Annuity Date, the sum of the Variable Account value and the Guaranteed Account value.

**Contract Year** Any period of 12 months commencing with the Issue Date or any Contract Anniversary.

**Covered Person** The person or persons upon whose lives the benefits of a SecurePay Income rider, as applicable, are based. There may not be more than two Covered Persons.

**DCA** Dollar cost averaging.

**DCA Accounts** A part of the Guaranteed Account, but separate from the Fixed Account. The DCA Accounts are designed to transfer amounts to the Sub-Accounts of the Variable Account systematically over a designated period.

**Death Benefit** The amount we pay to the beneficiary if an Owner dies before the Annuity Date.

**Due Proof of Death** Receipt at our Administrative Office of a certified death certificate or judicial order from a court of competent jurisdiction or similar tribunal.

**Excess Withdrawals** Any portion of a withdrawal that, when aggregated with all prior withdrawals during a Contract Year, exceeds the maximum withdrawal amount permitted under the SecurePay Income rider.

**Fixed Account** A part of the Guaranteed Account, but separate from the DCA Accounts. Amounts allocated or transferred to the Fixed Account earn interest from the date the funds are credited to the account.

**Fund** Any investment portfolio in which a corresponding Sub-Account invests.

**Good Order ("good order")** A request or transaction generally is considered in "Good Order" if we receive it in our Administrative Office within the time limits, if any, prescribed in the Prospectus for a particular transaction or instruction, it includes all information necessary for us to execute the requested instruction or transaction, and is signed by the individual or individuals authorized to provide the instruction or engage in the transaction. A request or transaction may be rejected or delayed if not in Good Order. Good Order generally means the actual receipt by us of the instructions relating to the request or transaction in writing (or, when permitted, by telephone or Internet as described above) along with all forms, information and supporting legal documentation we require to effect the instruction or transaction. This information and documentation generally includes, to the extent applicable: the completed application or instruction

------

[**TABLE OF CONTENTS**](#TOC)

form; your contract number; the transaction amount (in dollars or percentage terms); the names and allocations to and/or from the Investment Options affected by the requested transaction; the signatures of all Owners (exactly as indicated on the Contract), if necessary; Social Security Number or Tax I.D.; and any other information or supporting documentation that we may require, including any spousal or Joint Owner's consents. With respect to Purchase Payments, Good Order also generally includes receipt by us of sufficient funds to effect the purchase. We may, in our sole discretion, determine whether any particular transaction request is in Good Order, and we reserve the right to change or waive any Good Order requirement at any time. If you have any questions, you should contact us or your registered representative before submitting the form or request.

**Guaranteed Account** The Fixed Account, the DCA Accounts and any other Investment Option we may offer with interest rate guarantees.

**Investment Option** Any account to which you may allocate Purchase Payments or transfer Contract Value under this Contract. The Investment Options are the Sub-Accounts of the Variable Account and the Guaranteed Account available in this Contract.

**Issue Date** The date as of which we credit the initial Purchase Payment to the Contract and the date the Contract takes effect.

**Maximum Annuity Date** The latest date on which you must surrender or annuitize the Contract, currently the oldest Owner's or Annuitant's 95<sup>th</sup> birthday.

**Monthly Anniversary Date** The same day each month as the Issue Date, or the last day of any month that does not have the same day as the Issue Date.

**Owner** The person or persons who own the Contract and are entitled to exercise all rights and privileges provided in the Contract.

**Prohibited Allocation Instruction** An instruction from you to allocate Purchase Payments or Contract Value or to take withdrawals that is not consistent with the Allocation Guidelines and Restrictions required in order to maintain the SecurePay Income rider. If we receive a Prohibited Allocation Instruction, we will terminate your SecurePay Income rider.

**Purchase Payment** The amount(s) paid by the Owner and accepted by the Company as consideration for this Contract.

**Qualified Contracts** Contracts issued in connection with retirement plans that receive favorable tax treatment under Sections 401, 408, 408A or 457 of the Code.

**Qualified Plans** Retirement plans that receive favorable tax treatment under Sections 401, 408, 408A or 457 of the Code.

**Quarterly Anniversary** The same month and day as the Contract Issue Date in each calendar quarter prior to the Annuity Date. If any Quarterly Anniversary is not a Valuation Date, we will calculate the quarterly value as of the next Valuation Period. If, however, a Quarterly Anniversary does not occur during a month, then we will calculate that quarterly value as of the prior Valuation Date.

**Rate Sheet Prospectus Supplement** A periodic supplement to the information contained in the Prospectus which sets forth the current fees for the available optional death benefit riders, the current fee for the SecurePay Income rider, and the current Maximum Withdrawal Percentage(s) and current roll-up percentage(s) under the SecurePay Income rider available when you purchase your Contract. See "PROTECTED LIFETIME INCOME BENEFIT ('SECUREPAY INCOME') — Determining the Amount of Your SecurePay Withdrawals."

**Rider Issue Date** The date a SecurePay Income rider is issued.

**RightTime** The ability to purchase the Protected Lifetime Income Benefit rider, SecurePay Income, after your Contract is issued, so long as you satisfy the rider's issue requirements and the rider is still available for sale.

**Sub-Account** A separate division of the Variable Account.

**Valuation Date** Each day on which the New York Stock Exchange is open for business.

**Valuation Period** The period which begins at the close of regular trading on the New York Stock Exchange (usually 3:00 p.m. Central Time) on any Valuation Date and ends at the close of regular trading on the next Valuation Date. A Valuation Period ends earlier if the New York Stock Exchange closes early on certain scheduled days (such as the Friday after Thanksgiving or Christmas Eve) or in case of an emergency.

------

[**TABLE OF CONTENTS**](#TOC)

**Variable Account** The Protective Variable Annuity Separate Account, a separate investment account of Protective Life.

**Written Notice** A notice or request submitted in writing in Good Order that we receive at the Administrative Office via U.S. postal service or nationally recognized overnight delivery service. Please note that we use the term "written notice" in lower case to refer to a notice that we may send to you.

------

[**TABLE OF CONTENTS**](#TOC)

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

---

| | |
|:---|:---|
| **FEES AND EXPENSES** | **FEES AND EXPENSES** |
| **Charges for Early Withdrawals** | If you surrender or make a withdrawal from your Contract within seven (7) years following your last Purchase Payment and before the Annuity Date, you will be assessed a surrender charge of up to 7% on the amount of the withdrawal minus the annual free withdrawal amount. The surrender charge percentage is based on the cumulative Purchase Payments as of the date each Purchase Payment is made, and declines to 0% over seven (7) years.<br> For example, assume you purchased a Contract with a single Purchase Payment of $100,000 and surrender the Contract during the first Contract Year. Your free withdrawal amount is $10,000 (10% x $100,000) and is not subject to a surrender charge. If you were subject to the highest surrender charge percentage, you could be assessed a withdrawal charge of up to $6,300 (7% x $90,000) on the remaining amount of your surrender request. However, because the actual surrender charge percentage will be based on your cumulative Purchase Payments, a lower surrender charge percentage would apply and a lower surrender charge assessed.<br> For additional information about charges for surrenders and early withdrawals, see "CHARGES AND DEDUCTIONS – Surrender Charge (Contingent Deferred Sales Charge)" in the Prospectus. |
| **Transaction Charges** | In addition to surrender charges, you may also be assessed a fee for each transfer after the first 12 transfers in a Contract Year.<br> For additional information about transaction charges, see "FEE TABLE – Transaction Expenses" and "CHARGES AND DEDUCTIONS" in the Prospectus. |
| **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. |

---

---

| | | |
|:---|:---|:---|
| **Annual Fee**  | **Minimum**  | **Maximum**  |
| Base contract <sup>(1)</sup> | 1.18% | 1.18% |
| Investment options (Fund fees and expenses) <sup>(2)</sup> | 0.35% | 1.44% |
| Optional benefits available for an additional charge (for a single optional benefit, if elected) | See Rate <br>Sheet <br>Prospectus <br>Supplement(3) | See Rate <br>Sheet <br>Prospectus <br>Supplement(4) |

---

&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>(1)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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;&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; <sup>(2)</sup>

 *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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>(3)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>(4)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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

------

[**TABLE OF CONTENTS**](#TOC)

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.**

---

| | |
|:---|:---|
| **Lowest Annual Cost: <br>$1,207**  | **Highest Annual Cost: <br>$4,706**  |
| Assumes: | Assumes: |
| &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; Investment of $100,000 <br>• &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; 5% annual appreciation<br>• &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; Least expensive combination of Base Contract fee and Fund fees and expenses<br>• &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; No optional benefits<br>• &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; No additional Purchase Payments, transfers or withdrawals<br>• &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; No sales charges<br>| &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; Investment of $100,000<br>• &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; 5% annual appreciation<br>• &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; Most expensive combination of Base Contract fee, optional benefits and Fund fees and expenses<br>• &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; No additional Purchase Payments, transfers, or withdrawals<br>• &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; No sales charges<br>|

---

For additional information about annual charges, please see "FEE TABLE" and "CHARGES AND DEDUCTIONS" in the Prospectus.

---

| | |
|:---|:---|
| **RISKS** | **RISKS** |
| **Risk of Loss** | You can lose money by investing in this Contract, including loss of principal.<br> For additional information about the risk of loss, see "PRINCIPAL RISKS OF INVESTING IN THE CONTRACT" in the Prospectus. |
| **Not a Short-Term Investment** | This Contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash. Although you are permitted to take withdrawals or surrender the Contract, surrender charges and federal and state income taxes may apply.<br> Surrender charges may apply for up to seven (7) years following your last Purchase Payment. Withdrawals will reduce your Contract Value and death benefit. <br> The benefits of tax deferral and living benefit protections also mean the Contract is less beneficial to investors with a short time horizon.<br> For additional information about the investment profile of the Contract, see "PRINCIPAL RISKS OF INVESTING IN THE CONTRACT," "CHARGES AND DEDUCTIONS," "FEDERAL TAX MATTERS," and "TAXATION OF ANNUITIES IN GENERAL" in the Prospectus. |
| **Risks Associated with Investment Options** | An investment in this Contract is subject to the risk of poor investment performance and can vary depending on the performance of the Investment Options available under the Contract.<br> Each Investment Option (including the Guaranteed Account) has its own unique risks.<br> You should review the prospectuses for the available Funds and consult with your financial professional before making an investment decision.<br> For additional information about the risks associated with Investment Options, see "PRINCIPAL RISKS OF INVESTING IN THE CONTRACT" in the Prospectus. |
| **Insurance Company Risks** | An investment in the Contract is subject to the risks related to the Company. Any obligations (including under the Guaranteed Account), guarantees, or benefits under the Contract are subject to the claims-paying ability of the Company. More information about the Company, including its financial strength ratings, is available upon request at no charge by calling us at 1-800-456-6330 or writing us at the address shown on the cover page.<br> For additional information about Company risks, see "PRINCIPAL RISKS OF INVESTING IN THE CONTRACT," and "THE COMPANY, VARIABLE ACCOUNT AND FUNDS" in the Prospectus. |

---

------

[**TABLE OF CONTENTS**](#TOC)

---

| | |
|:---|:---|
| **RESTRICTIONS** | **RESTRICTIONS** |
| **Investments** | Currently, there is no charge when you transfer Contract Value among Investment Options. However, we reserve the right to charge $25 for each transfer after the first 12 transfers in any Contract Year in the future.<br> We reserve the right to remove or substitute Funds as Investment Options that are available under the Contract. We also reserve the right to restrict the allocation of additional Purchase Payments and/or transfers of Contract Value to a Fund if we determine the Fund no longer meets one or more of our Fund selection criteria and/or if a Fund has not attracted significant contract owner assets.<br> For additional information about Investment Options, see "CHARGES AND DEDUCTIONS – Transfer Fee" and "THE COMPANY, VARIABLE ACCOUNT AND FUNDS – Selection of Funds – Addition, Deletion or Substitution of Investments" in the Prospectus. |
| **Optional Benefits** | &nbsp;&nbsp;&nbsp; If you select a Protected Lifetime Income Benefit rider:<br> • &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; The Investment Options available to you under the Contract will be limited.<br>• &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; You may not make additional Purchase Payments two years or more after the Rider Issue Date or on or after the Benefit Election Date, whichever comes first.<br>•  Withdrawals from Contract Value that exceed the Annual Withdrawal Amount under the rider may significantly reduce or eliminate the rider benefits.<br> We may stop offering an optional benefit rider at any time.<br> If you purchase an optional death benefit, withdrawals may reduce the benefit by an amount greater than the value withdrawn.<br> For additional information about the optional benefits, see "PROTECTED LIFETIME INCOME BENEFIT ("SECUREPAY INCOME")" and "DEATH BENEFIT - Selecting a Death Benefit" in the Prospectus. |

---

---

| | |
|:---|:---|
| **TAXES** | **TAXES** |
| **Tax Implications** | You should consult with a qualified tax advisor regarding the federal tax implications of an investment in, payments received under, and other transactions in connection with this Contract.<br> If you purchase the Contract through a tax-qualified plan or individual retirement arrangement (IRA), you do not get any additional tax deferral. Generally, all earnings on the investments underlying the Contract are tax-deferred until distributed or deemed distributed. A distribution from a non-Qualified Contract, which includes a surrender, withdrawal, payment of a death benefit, or annuity income payments, will generally result in taxable income if there has been an increase in the Contract Value. In the case of a Qualified Contract, a distribution generally will result in taxable income even if there has not been an increase in the Contract Value. In certain circumstances, a 10% additional tax may also apply if the Owner takes a withdrawal before age 59½. All amounts includable in income with respect to the Contract are taxed as ordinary income; no amounts are taxed at the special lower rates applicable to long term capital gains and corporate dividends.<br> For additional information about tax implications, see "FEDERAL TAX MATTERS" and "TAXATION OF ANNUITIES IN GENERAL" in the Prospectus. |

---

------

[**TABLE OF CONTENTS**](#TOC)

---

| | |
|:---|:---|
| **CONFLICTS OF INTEREST** | **CONFLICTS OF INTEREST** |
| **Investment Professional Compensation** | We pay compensation, in the form of commissions, non-cash compensation, and asset-based compensation, to broker-dealers in connection with the promotion and sale of the Contracts. A portion of any payments made to the broker-dealers may be passed on to their registered representatives in accordance with their internal compensation programs. The prospect of receiving, or the receipt of, asset-based compensation may provide broker-dealers and/or their registered representatives with an incentive to recommend initial or continued investment in the Contracts over other variable insurance products (or other investments). You may wish to take such compensation arrangements into account when considering and evaluating any recommendation relating to the Contracts.<br> For additional information about compensation, see "DISTRIBUTION OF THE CONTRACTS" in the Prospectus. |
| **Exchanges** | Some investment professionals may have a financial incentive to offer you a new contract in place of the contract you already own. You should only exchange your current contract if you determine, after comparing the features, fees, and risks of both contracts, that it is better for you to purchase the new contract rather than continue to own your existing contract.<br> For additional information about exchanges, see "TAXATION OF ANNUITIES IN GENERAL – Exchanges of Annuity Contracts" in the Prospectus. |

---

#### OVERVIEW OF THE VARIABLE ANNUITY CONTRACT

#### Q: What is this Contract, and what is it designed to do?
A: The Protective Dimensions V Variable Annuity Contract is designed to provide long-term accumulation of assets through investments in a variety of Investment Options during the accumulation phase. It can supplement your retirement income by providing a stream of income payments during the payout phase. It also offers death benefits to protect your beneficiaries. This Contract may be appropriate if you have a long investment time horizon. It is not intended for people who may need to make early or frequent withdrawals or intend to engage in frequent trading in the Funds, and may not be appropriate for you if you do not have a long-term investment horizon.

#### Q: How do I accumulate assets in this Contract and receive income from the Contract?
A: Your Contract has two phases: 1) an accumulation (savings) phase: and 2) a payout (income) phase.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. **Accumulation (Savings) Phase**

To help you accumulate assets, you can invest your Purchase Payments in:

&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; Funds (mutual funds), each of which has its own investment strategies, investment advisers, expense ratios, and returns; and

&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; The Fixed Account option, which offers a guaranteed interest rate during a selected period.

**Additional information about the Funds in which you can invest is provided in the back of this Summary Prospectus. See FUND APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT.** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. **Payout (Income) Phase**

You can elect to annuitize your Contract and turn your Contract Value into a stream of income payments (sometimes called annuity payments) from Protective Life Insurance Company, at which time the accumulation phase of the Contract ends. These payments may continue for a fixed period of years, for your entire life, or for the longer of a fixed period or your life. The payments may also be fixed or variable. Variable payments will vary based on the performance of the Investment Options you select. Please note that if you annuitize, your investments will be converted to income payments and you may no longer be able to choose to withdraw money at will from your Contract. All benefits (including guaranteed minimum death benefits and living benefits) terminate upon annuitization.

#### Q: What are the primary features and options that this Contract offers?
A: **Accessing your money.** Until you annuitize, you have full access to your money. You can choose to withdraw your Contract Value at any time (although if you withdraw early, you may have to pay surrender charges and income taxes, including an additional tax if you are younger than age 59½).

------

[**TABLE OF CONTENTS**](#TOC)

**Tax treatment.** You can transfer money between Investment Options without tax implications, and earnings (if any) on your investments are generally tax-deferred. You are generally taxed when: (1) you make a withdrawal or (2) you receive an income payment from the Contract. Your beneficiary is taxed upon payment of a death benefit. For more information, see "Federal Tax Matters".

**Death benefits.** Your Contract includes a basic death benefit, the Contract Value Death Benefit, that will pay your beneficiaries the Contract Value as of the date we receive Due Proof of Death, minus applicable fees and charges. You can purchase optional death benefits for an additional fee. These death benefits may increase the amount of money payable to your beneficiaries upon your death.

**Optional benefits that occur during your lifetime.** For an additional fee, you can purchase a Protected Lifetime Income Benefit rider (the SecurePay Income rider) to help protect your retirement income from declining markets and/or provide income guarantees to help protect you from outliving your assets, while still maintaining access to your money.

**Portfolio rebalancing and dollar cost averaging.** At no additional charge, you may select portfolio rebalancing, which automatically rebalances the Sub-Accounts you select to maintain your chosen percentage allocation of Variable Account value among the Sub-Accounts. Alternatively, at no additional charge, you may select dollar cost averaging (DCA), which automatically transfers a specific amount of money from the DCA Account or the Fixed Account to the Sub-Accounts you have selected, at set intervals over a specific period of time. If you purchase the SecurePay Income rider, we will automatically enroll you in the portfolio rebalancing program.

**Automatic withdrawals.** You may make pre-authorized withdrawals of a level dollar amount from the Contract on a monthly or quarterly basis before the Annuity Date. There is no charge for the automatic withdrawal program. However, if, during a Contract Year, the amount of the withdrawals exceeds the annual free withdrawal amount, we will deduct a surrender charge. You may also have to pay income taxes, including an additional tax if you are younger than age 59½.

#### Benefits Available Under the Contract
***Q: Are there benefits I can select that will affect how much money that my beneficiaries or I will receive under the Contract, or otherwise will affect my rights under the Contract? What are the features, costs, and any limitations associated with these other benefits?***

A: In addition to the Contract Value Death Benefit that is included with your Contract, other optional benefits may also be available to you. The purposes, fees, and restrictions/limitations of these benefits are briefly summarized in the following tables.

#### Death Benefits
These death benefits are available during the accumulation phase:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Benefit**  | **Purpose**  | **Is Benefit <br>Standard or <br>Optional?**  | **Maximum Fee**  | **Brief Description of <br>Restrictions/Limitations**  |
| **Contract Value Death Benefit** | Guarantees beneficiaries will receive a benefit at least equal to your Contract Value. | Standard | No charge | None. |
| **Return of Purchase Payments Death Benefit** | Equal to the greater of:<br> 1. the Contract Value or<br> 2. the aggregate Purchase Payments less an adjustment for each withdrawal. | Optional | 1.00% (as an annualized percentage of the death benefit value on each Monthly Anniversary Date) | &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; Death Benefit will never be more than the Contract Value plus $1,000,000.<br>• &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; Withdrawals can reduce the value of the Death Benefit by more than the amount withdrawn.<br>• &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; Available only at purchase.<br>• &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; It is possible this Death Benefit will be no greater than the Contract Value Death Benefit, for which we do not assess a fee.<br>|

---

------

[**TABLE OF CONTENTS**](#TOC)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Name of Benefit**  | **Purpose**  | **Is Benefit <br>Standard or <br>Optional?**  | **Maximum Fee**  | **Brief Description of <br>Restrictions/Limitations**  |
| **Maximum Anniversary Value Death Benefit** | Equal to the greatest of:<br> 1. the Contract Value,<br> 2. the aggregate Purchase Payments less an adjustment for each withdrawal ,or<br> 3. the greatest anniversary value attained prior to the older Owner's 83rd birthday. | Optional | 1.00% (as an annualized percentage of the death benefit value on each Monthly Anniversary Date) | &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; Available only at purchase.<br>• &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; Death Benefit will never be more than the Contract Value plus $1,000,000.<br>• &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; It is possible that this Death Benefit will be no greater than the Contract Value Death Benefit, for which we do not assess a fee.<br>• &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; Cannot be elected if the oldest Owner is 78 or older.<br>• &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; Withdrawals can reduce the value of the Death Benefit by more than the amount withdrawn.<br>|
| **Maximum Quarterly Value Death Benefit** | Equal to the greatest of:<br> 1. the Contract Value,<br> 2. the aggregate Purchase Payments less an adjustment for each withdrawal, or<br> 3. the greatest Quaterly Anniversary value attained prior to the older Owner's 83rd birthday. | Optional | 1.00% (as an annualized percentage of the death benefit value on each Monthly Anniversary Date) | &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; Available only at purchase.<br>• &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; Death Benefit will never be more than the Contract Value plus $1,000,000.<br>• &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; It is possible that this Death Benefit will be no greater than the Contract Value Death Benefit, for which we do not assess a fee.<br>• &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; Cannot be elected if the oldest Owner is 78 or older.<br>• &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; Withdrawals can reduce the value of the Death Benefit by more than the amount withdrawn.<br>|

---

------

[**TABLE OF CONTENTS**](#TOC)

#### Optional Living Benefits

---

| | | | |
|:---|:---|:---|:---|
| **Name of Benefit**  | **Purpose**  | **Current Fee**  | **Brief Description of <br>Restrictions/Limitations**  |
| **SecurePay Income rider** | Provides an Annual Withdrawal Amount that is guaranteed for life, even if Contract Value is reduced to zero. This rider also includes a "roll-up" feature that may increase your Annual Withdrawal Amount. 2.20% (if selected at Contract purchase) <sup>(1)</sup><br> 2.20% (if under RightTime) <sup>(1)</sup> | See 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;&nbsp;&nbsp;&nbsp; Allocation of Purchase Payments or Contract Value to the Fixed Account is not permitted.<br>Benefit limits available Investment Options during accumulation phase and withdrawal phase.<br> • &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; No Purchase Payments two years or more after Rider Issue Date or on or after Benefit Election Date, whichever comes first.<br>• &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; Excess Withdrawals may significantly reduce or eliminate value of benefit.<br>• &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; Available to Contract Owners age 55 to 80.<br>|

---

<sup>(1)</sup>

 *Fee is calculated as an annualized percentage of the Benefit Base* 

------

[**TABLE OF CONTENTS**](#TOC)

#### Other Optional Benefits

---

| | | | |
|:---|:---|:---|:---|
| **Name of Benefit**  | **Purpose**  | **Maximum Fee**  | **Brief Description of <br>Restrictions/Limitations**  |
| **Portfolio Rebalancing** | Automatically rebalances the Sub-Accounts you select (either quarterly, semi-annually or annually) to maintain your chosen percentage allocation of Variable Account value among the Sub-Accounts. |  | &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; If you purchase the SecurePay Income rider, your allocations must comply with our Allocation Guidelines and Restrictions.<br>|
| **Dollar Cost Averaging** | Automatically transfers a specific amount of money from the DCA Account or the Fixed Account to the Sub-Accounts you select, on a monthly basis over a specific period of time. |  | &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; If you purchase the SecurePay Income rider, your allocations must comply with our Allocation Guidelines and Restrictions.<br>|
| **Automatic Withdrawal Plan ("AWP")** | Automatically withdraws a level dollar amount from the Contract on a monthly or quarterly basis before the Annuity Date. |  | &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; If, during a Contract Year, the amount of withdrawals exceed the annual free withdrawal amount, we will deduct a surrender charge.<br>• &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; If you select the SecurePay Income rider, the AWP will reduce Benefit Base and available SecurePay withdrawals.<br>• &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; Income taxes, including an additional tax if you are younger than age 591/2, may apply.<br>|

---

#### Buying the Contract

#### Q: How do I purchase the Protective Dimensions V Variable Annuity Contract?
A: You must complete and submit an application, along with your initial Purchase Payment, to Protective Life through a licensed representative of Protective Life. Once we have received and approved your application, we will send you your Contract and a statement confirming your investments.

#### Q: How much can I contribute and how are my contributions invested?
A: Your Purchase Payment will be invested in the Investment Options that you choose.

---

| | | |
|:---|:---|:---|
| | **With the SecurePay Income rider <sup>(1)</sup>**  | **Without the SecurePay Income rider**  |
| **Minimum Initial Purchase Payment** | $10000 | $10000 |
| **Minimum Subsequent Purchase Payment** | $100 ($50 if made by <br>electronic funds transfer) | $100 ($50 if made by <br>electronic funds transfer) |
| **Maximum Aggregate Purchase Payment <sup>(2)</sup>** | $1000000 | $1000000 |

---

<sup>(1)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There are limitations on subsequent Purchase Payments if you select the SecurePay Income rider.*

<sup>(2)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We can reject any Purchase Payments for any reason. We may also permit you to invest more than the maximum amounts listed above if you obtain our prior approval.*

------

[**TABLE OF CONTENTS**](#TOC)

After your initial Purchase Payment, you are not required to make any additional Purchase Payments under your Contract.

#### Q: When will any Purchase Payments that I make be credited to my Contract?
A: Initial Purchase Payment: Your financial professional must determine that the Contract is suitable for you and transmit your application to us. If your application is complete when received by us and we also received your initial Purchase Payment, we will issue your Contract and allocate your initial Purchase Payment to the Investment Options you direct within 2 business days. If some information is missing from your application, we may delay issuing your Contract and crediting your Contract while we obtain the missing information. However, we will not hold your initial Purchase Payment for more than 5 business days without your permission. Once the information is complete, we will allocate your initial Purchase Payment to the Investment Options you direct within 2 business days.

Subsequent Purchase Payment: if we receive a subsequent Purchase Payment before the close of the NYSE (typically 3:00 p.m. Central Time), we will apply your Purchase Payment as of the end of that Valuation Date. If we receive your subsequent Purchase Payment at or after the close of the NYSE, your payment will be applied on the next Valuation Date.

#### Making Withdrawals: Accessing the Money in Your Contract

#### Q: Can I access the money in my Contract during the asset accumulation (savings) phase?
A: You can access the money in your Contract by making a withdrawal, which will reduce the value of your Contract (including the amount of the death benefit). You may withdraw all or a portion of your Contract Value (minus applicable charges and other adjustments, discussed below). **However, withdrawing the entire Contract Value will terminate your Contract.**

Certain withdrawals may reduce the value of the SecurePay rider you elected. This optional living benefit rider provides withdrawal options.

#### Q: Are there any limitations associated with taking money out of my Contract during the asset accumulation (savings) phase?
A: Yes. These limitations are as follows:

---

| | |
|:---|:---|
| **Limitations on withdrawal amounts** | &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; At any time before the Annuity Date, you may withdraw the Contract Value provided the Contract Value remaining after the withdrawal is at least $5,000.If you request a withdrawal that would reduce your Contract Value below $5,000, we will (1) confirm the request for partial withdrawal with the Contract Owner, and, (2) if the request is confirmed, will treat the request for partial withdrawal as a request to fully surrender the Contract.<br>• &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; If you select SecurePay Income rider, special withdrawal rules apply.<br>|
| **Surrender charges and taxes** | &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; Surrender charges and federal and state income taxes may apply, as well as a 10% federal additional tax if the withdrawal occurs before the Owner reaches age 59½.<br>|
|  **Negative impact of withdrawal on other benefits and guarantees of your Contract** | &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; Withdrawals reduce your Contract Value and death benefit, and may reduce the value of the SecurePay Income rider.<br>|

---

#### Q: What is the process to request a withdrawal of money from my Contract?
A: You can request to withdraw all or a portion of your Contract Value (that is your Contract Value less any surrender charges and any prorated Contract fees) on any business day through your financial intermediary, by calling us, facsimile or mailing a request to: (1) Protective Life Insurance Company, P.O. Box 10648, Birmingham, Alabama 35202-0648 ***(if sent by the U.S. postal service)***; or (2) to Protective Life Insurance Company, 2801 Highway 280 South, Birmingham, Alabama 35223 ***(if sent by a nationally recognized overnight delivery service)***. Generally, for withdrawal or surrender requests received in good order before the close of the New York Stock Exchange (typically 3:00 p.m. Central Time), we will process your request that Valuation Date. If we receive your request in good order at or after the close of the New York Stock Exchange, your request will be processed the next Valuation Date. We will generally pay the amount withdrawn or surrendered within seven days.

------

[**TABLE OF CONTENTS**](#TOC)

#### Q: Can I access the money in my account during the annuity (income) phase?
A: You will receive payments under the annuity payment option you select. However, unless you select an annuity payment option for a certain period that provides variable income payments, you may not take any other withdrawals.

------

[**TABLE OF CONTENTS**](#TOC)

#### ADDITIONAL INFORMATION ABOUT FEES
**The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from the Contract. 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.**

**The first table describes the fees and charges that you will pay at the time you buy the Contract, surrender or make withdrawals from the Contract, or transfer Contract Value between Investment Options. State premium taxes may also be deducted.** 

#### TRANSACTION EXPENSES

---

| | |
|:---|:---|
| Maximum Surrender Charge (as a % of amount surrendered) <sup>(1)</sup> | 7% |
| Transfer Fee <sup>(2)</sup> | $25 |

---

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(1)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The surrender charge is based upon cumulative Purchase Payments as of the date each Purchase Payment is applied to the Contract, and decreases over time. The total of surrender charges assessed and Premium Based Charges deducted will not exceed 9% of aggregate Purchase Payments. (See "CHARGES AND DEDUCTIONS, Determining the Surrender Charge.")*

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(2)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Protective Life currently does not charge this Transfer Fee, but reserves the right to do so in the future for each transfer after the first 12 transfers in any Contract Year. We will give written notice thirty (30) days before we impose a Transfer Fee. (See "CHARGES AND DEDUCTIONS, Transfer Fee" in the Prospectus.)*

------

[**TABLE OF CONTENTS**](#TOC)

**The next table describes the fees and expenses that you will pay *each year* during the time that you own the Contract, not including Fund fees and expenses. If you choose to purchase an optional benefit, you will pay additional charges, as shown below.**

#### ANNUAL CONTRACT EXPENSES

---

| | |
|:---|:---|
| Administrative Expenses<sup>(1)</sup> | $50 |
| Base Contract Expenses (as a percentage of average Variable Account value)<sup>(2)</sup> | 0.65% |
|  Maximum Premium Based Charge (as an annualized percentage of each Purchase Payment, deducted quarterly)<sup>(3)</sup>  | 0.70% |

---

Optional Benefit Expenses

---

| | | |
|:---|:---|:---|
| | **Maximum**  | **Current**  |
|  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)<sup>(4)</sup>  | 1.00% | See Rate Sheet <br>Prospectus Supplement |
|  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)<sup>(5)</sup>  | 1.00% | See Rate Sheet<br>Prospectus Supplement |
|  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)<sup>(6)</sup>  | 1.00% | See Rate Sheet<br>Prospectus Supplement |

---

Protected Lifetime Income Benefits

SecurePay Income Rider Fee (as an annualized percentage of the Benefit Base on each Monthly Anniversary Date, beginning with the 1st Monthly Anniversary Date following election of the rider)<sup>(7)(8)</sup>

---

| | | |
|:---|:---|:---|
| | **Maximum**  | **Current**  |
| Purchase of SecurePay Income rider at Contract Purchase  | 2.20% | See Rate Sheet <br>Prospectus Supplement |
| Purchase of SecurePay Income rider under RightTime  | 2.20% | See Rate Sheet <br>Prospectus Supplement |

---

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(1)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Includes the annual contract maintenance fee. We will waive the annual contract maintenance fee if your Contract Value or aggregate Purchase Payments, reduced by surrenders and surrender charges, is $75,000 or more. (See "CHARGES AND DEDUCTIONS, Contract Maintenance Fee" in the Prospectus.)*

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(2)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Base Contract Expenses include a mortality and expense risk charge equal on an annual basis to 0.55% of the average daily net assets of the Variable Account attributable to your Contract and an administration charge equal on an annual basis to 0.10% of average daily net assets of the Variable Account attributable to your Contract.*

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(3)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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; <sup>(4)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Return of Purchase Payments Death Benefit is equal to the greater of (i) your Contract Value, or (ii) your Purchase Payments less an adjustment for withdrawals. For more information on these death benefit values and fees, and how they are calculated, please see the "DEATH BENEFIT" and "CHARGES AND DEDUCTIONS, Death Benefit Fees" sections in the Prospectus.*

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(5)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Maximum Anniversary Value Death Benefit is equal to the greatest of (i) your Contract Value, (ii) your Purchase Payments less an adjustment for withdrawals, or (iii) the highest anniversary value of the Contract before the Owner's 83<sup>rd</sup> birthday. For more information on these death benefit values and fees, and how they are calculated, please see the "DEATH BENEFIT" and "CHARGES AND DEDUCTIONS, Death Benefit Fees" sections in the Prospectus.*

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(6)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Maximum Quarterly Value Death Benefit is equal to the greatest of (i) your Contract Value, (ii) your Purchase Payments less an adjustment for withdrawals, or (iii) the highest quarterly value of the Contract before the Owner's 83<sup>rd</sup> birthday. For more information on these death benefit values and fees, and how they are calculated, please see the "DEATH BENEFIT" and "CHARGES AND DEDUCTIONS, Death Benefit Fees" sections in the Prospectus.*

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(7)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; We deduct the fee for the SecurePay Income rider monthly from your Contract Value in the Sub-Accounts of the Variable Account on the Valuation Date that occurs after each Valuation Period containing a Monthly* 

------

 *[**TABLE OF CONTENTS**](#TOC)

Anniversary Date. The SecurePay Fee is not deducted from your Contract Value in the DCA Accounts. For more information about the SecurePay Fee, our right to increase the fee in the future and your right to not to elect such increases. See "PROTECTED LIFETIME INCOME BENEFIT ("SECUREPAY INCOME") — SecurePay Fee" in the Prospectus.

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(8)</sup>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Benefit Base is a value used to calculate the Annual Withdrawal Amounts, and the fees charged, under the SecurePay Income rider. If the rider is purchased at issue, your initial Benefit Base is equal to your initial purchase payments. If the rider is added through RightTime, your initial Benefit Base is equal to your Contract Value on the Rider Issue Date. For more information on the SecurePay rider, the Benefit Base, and how it is calculated, see "THE SECUREPAY INCOME RIDER" in the Prospectus.

------*

[**TABLE OF CONTENTS**](#TOC)

**The next table shows the minimum and maximum total operating expenses charged by the Funds that you may pay periodically during the time that you own the Contract. A complete list of Funds available under the Contract, including their annual expenses, can be found in an Appendix to this Summary Prospectus. (See "FUND APPENDIX: FUNDS AVAILABLE UNDER THE CONTRACT.")**

#### ANNUAL FUND EXPENSES

---

| | | |
|:---|:---|:---|
| | **Minimum**  | **Maximum**  |
|  Annual Fund Expenses **before** any waivers or expense reimbursements (expenses that are deducted from Fund assets, including management fees, distribution and/or service (12b-1) fees, and other expenses)  | 0.35% | 1.44% |
| Annual Fund Expenses **after** any waivers or expense reimbursements <sup>(1)</sup> | 0.35% | 1.44% |

---

&nbsp;&nbsp;&nbsp;&nbsp; <sup>(1)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The "Annual Fund Expenses **after** any waivers or expense reimbursements" line in the above table shows the range of minimum and maximum fees and expenses based on the expenses of all Funds after taking into account contractual fee waiver or expense reimbursement arrangements in place. Those contractual arrangements are designed to reduce total annual Fund operating expenses for Contract Owners and will continue past the current year.* 

#### Example
**The following examples are intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. The examples show the costs of investing in the Contract, including transaction expenses, administrative expenses, base contract expenses, any optional rider charges, and Annual Fund Expenses.**

**The examples assume that you invest $100,000 in the Contract for the periods indicated. The examples also assume that your investment has a 5% return each year and assumes the most expensive and least expensive combination of Annual Fund Expenses.**

&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; The first example assumes that you purchased the SecurePay Income rider with RightTime at the maximum and current rider fees.

&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; The second example assumes that you have not purchased the SecurePay Income rider.

&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; The examples also assume that the Maximum Quarterly Value Death Benefit is in effect, and that all Contract Value is allocated to the Variable Account. The examples do not reflect transfer fees.

&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; The examples do not reflect premium taxes, which may range up to 3.5% depending on the jurisdiction.

Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

1. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you purchased the SecurePay Income rider under RightTime:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you surrender the Contract at the end of the applicable time period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the maximum charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $12238 | $23610 | $34743 | $64844 |
| Minimum Fund Expense  | $11266 | $20746 | $30014 | $55815 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the current charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $11018 | $19864 | $28267 | $50613 |
| Minimum Fund Expense  | $10040 | $16952 | $23401 | $40943 |

---

------

[**TABLE OF CONTENTS**](#TOC)

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you annuitize<sup>(1)</sup> or remain invested in the Contract at the end of the applicable time period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the maximum charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $6010 | $18427 | $31423 | $64844 |
| Minimum Fund Expense  | $4791 | $15386 | $26493 | $55815 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the current charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $4706 | $14450 | $24673 | $50613 |
| Minimum Fund Expense  | $3661 | $11358 | $19601 | $40943 |

---

2. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you have not purchased the SecurePay Income rider:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you surrender the Contract at the end of the applicable time period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the maximum charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $10184 | $17128 | $23224 | $37737 |
| Minimum Fund Expense  | $9206 | $14202 | $18312 | $27789 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the current charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $9621 | $15451 | $20422 | $32137 |
| Minimum Fund Expense  | $8636 | $12470 | $15352 | $21504 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you annuitize<sup>(1)</sup> or remain invested in the Contract at the end of the applicable time period:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the maximum charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $3814 | $11546 | $19417 | $37737 |
| Minimum Fund Expense  | $2769 | $8440 | $14297 | $27789 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reflecting the current charge:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **1 year** | **3 years** | **5 years** | **10 years** |
| Maximum Fund Expense  | $3212 | $9765 | $16497 | $32137 |
| Minimum Fund Expense  | $2160 | $6601 | $11212 | $21504 |

---

***Please remember that the examples are an illustration and do not guarantee the amount of future expenses. Your actual expenses may be higher or lower than those shown. Similarly, your rate of return may be more or less than the 5% rate of return assumed in the examples.***

<sup>(1)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; You may not annuitize your Contract within 3 years after we accept your most recent Purchase Payment. For more information, see "ANNUITY PAYMENTS, Annuity Date, Changing the Annuity Date." Neither the death benefit fee nor the SecurePay Fee apply after the Annuity Date.*

------

[**TABLE OF CONTENTS**](#TOC)

#### FUND APPENDIX

#### FUNDS AVAILABLE UNDER THE CONTRACT
The following is a list of Funds available under the Contract. 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 855-920-9713 or by sending an email request to prospectus@protective.com. Depending on the optional benefits you choose, you may not be able to invest in certain Funds.

The current expenses and performance information below reflects fee and expenses of the Funds, but do not reflect the other fees and expenses that your Contract 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** |  ***Portfolio Company - Investment Adviser; Sub-<br>Adviser(s), as applicable*** | **Current <br>Expenses** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **SecurePay Income <br>Rider Allocation <br>Investment <br>Category<sup>(2)</sup>**  |
| **Asset<br>Allocation <br>Type** |  ***Portfolio Company - Investment Adviser; Sub-<br>Adviser(s), as applicable*** | **Current <br>Expenses** | **1 Year**  | **5 Year**  | **10 Year**  | |
| U.S. Equity | AB VPS Growth and Income B<sup>(1)</sup> | 0.84% | 27.84% | 12.58% | 13.39% | 3 |
| U.S. Equity | AB VPS Large Cap Growth B | 0.90% | 28.65% | 25.78% | 20.52% | 3 |
| U.S. Equity | AB VPS Small Cap Growth B<sup>(1)</sup> | 1.15% | 9.20% | 24.72% | 17.82% | 4 |
| U.S. Equity | AB VPS Small/Mid Cap Value B | 1.05% | 35.60% | 9.88% | 12.85% | 4 |
| Taxable Bond | American Funds<sup>®</sup> IS American High-Income Trust 4<sup>(1)</sup> | 0.80% | 8.18% | 6.32% | 6.01% | 2 |
| Allocation | American Funds<sup>®</sup> IS Asset Allocation 4 | 0.80% | 14.84% | 11.43% | 11.10% | 2 |
| Allocation | American Funds<sup>®</sup> IS Capital Income Builder<sup>®</sup> 4<sup>(1)</sup> | 0.77% | 14.68% | 7.97% |  | 2 |
| Taxable Bond | American Funds<sup>®</sup> IS Capital World Bond 4 | 1.00% | -5.18% | 3.24% | 1.85% | 1 |
| International <br>Equity | American Funds<sup>®</sup> IS Capital World Growth & Income 4<sup>(1)</sup> | 0.92% | 14.46% | 12.99% | 11.39% | 3 |
| International <br>Equity | American Funds<sup>®</sup> IS Global Growth 4<sup>(1)</sup> | 0.92% | 16.14% | 19.39% | 15.41% | 3 |
| International <br>Equity | American Funds<sup>®</sup> IS Global Small Cap 4<sup>(1)</sup> | 1.15% | 6.43% | 15.16% | 12.24% | 3 |
| U.S. Equity | American Funds<sup>®</sup> IS Growth 4 | 0.85% | 21.69% | 25.12% | 19.44% | 3 |
| U.S. Equity | American Funds<sup>®</sup> IS Growth-Income 4 | 0.79% | 23.80% | 16.10% | 15.14% | 3 |
| International <br>Equity | American Funds<sup>®</sup> IS International 4 | 1.04% | -1.71% | 9.37% | 7.88% | 3 |
| International <br>Equity | American Funds<sup>®</sup> IS International Growth and Income 4<sup>(1)</sup> | 1.03% | 5.09% | 8.49% | 6.72% | 3 |
| International <br>Equity | American Funds<sup>®</sup> IS New World 4<sup>(1)</sup> | 1.07% | 4.63% | 12.96% | 8.41% | 4 |
| Taxable Bond | American Funds<sup>®</sup> IS The Bond Fund of America 4<sup>(1)</sup> | 0.70% | -0.59% | 3.96% | 3.02% | 1 |
| Taxable Bond | American Funds<sup>®</sup> IS US Government Securities 4<sup>(1)</sup> | 0.72% | -0.88% | 3.04% | 2.08% | 1 |
| U.S. Equity | American Funds<sup>®</sup> IS Washington Mutual Investor 4<sup>(1)</sup> | 0.77% | 27.51% | 12.22% | 13.53% | 3 |
| Allocation | BlackRock 60/40 Target Allocation ETF VI III<sup>(1)</sup> | 0.63% | 11.70% | 10.99% |  | 2 |
| Allocation | BlackRock Global Allocation V.I. III - BlackRock (Singapore) Limited<sup>(1)</sup> | 1.00% | 6.42% | 9.71% | 7.68% | 2 |
| International <br>Equity | BlackRock International V.I. I - BlackRock International Limited<sup>(1)</sup> | 0.86% | 8.68% | 12.29% | 8.85% | 3 |
| U.S. Equity | ClearBridge Variable Mid Cap II - ClearBridge Investments, LLC | 1.07% | 28.38% | 13.98% | 14.04% | 4 |
| U.S. Equity | ClearBridge Variable Small Cap Growth II - ClearBridge Investments, LLC | 1.05% | 12.31% | 21.04% | 16.82% | 4 |
| Allocation | Columbia VP Balanced 2 | 1.00% | 14.62% | 12.18% | 11.31% | 2 |
| Taxable Bond | Columbia VP Emerging Markets Bond 2 | 1.01% | -2.45% | 3.92% |  | 2 |
| Taxable Bond | Columbia VP Limited Duration Credit 2<sup>(1)</sup> | 0.70% | -0.84% | 2.75% | 2.38% | 1 |
| U.S. Equity | Columbia VP Select Mid Cap Value 2<sup>(1)</sup> | 1.08% | 31.97% | 12.72% | 13.63% | 4 |
| Taxable Bond | Columbia VP Strategic Income 2<sup>(1)</sup> | 0.93% | 1.63% | 4.67% | 4.53% | 2 |

---

------

[**TABLE OF CONTENTS**](#TOC)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Asset<br>Allocation <br>Type** |  ***Portfolio Company - Investment Adviser; Sub-<br>Adviser(s), as applicable*** | **Current <br>Expenses** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **SecurePay Income <br>Rider Allocation <br>Investment <br>Category<sup>(2)</sup>**  |
| **Asset<br>Allocation <br>Type** |  ***Portfolio Company - Investment Adviser; Sub-<br>Adviser(s), as applicable*** | **Current <br>Expenses** | **1 Year**  | **5 Year**  | **10 Year**  | |
| Allocation | Fidelity<sup>®</sup> VIP Asset Manager Growth Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.93% | 13.69% | 12.19% | 10.39% | 2 |
| Allocation | Fidelity<sup>®</sup> VIP Asset Manager Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.84% | 9.68% | 9.74% | 8.37% | 2 |
| Allocation | Fidelity<sup>®</sup> VIP Balanced Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.71% | 17.99% | 14.69% | 12.37% | 2 |
| Taxable Bond | Fidelity<sup>®</sup> VIP Bond Index Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.39% | -2.24% |  |  | 1 |
| U.S. Equity | Fidelity<sup>®</sup> VIP Contrafund Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.85% | 27.51% | 19.87% | 16.35% | 3 |
| Sector Equity | Fidelity<sup>®</sup> VIP Energy Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.90% | 54.83% | -3.55% | 0.02% | 4 |
| U.S. Equity | Fidelity<sup>®</sup> VIP Extended Market Index Service 2 - Geode Capital Management, LLC | 0.38% | 20.93% |  |  | 4 |
| Allocation | Fidelity<sup>®</sup> VIP FundsManager 60% Service 2<sup>(1)</sup> | 0.90% | 12.21% | 11.10% | 9.44% | 2 |
| Allocation | Fidelity<sup>®</sup> VIP FundsManager 85% Service 2<sup>(1)</sup> | 0.97% | 17.64% | 14.22% | 12.14% | 3 |
| Sector Equity | Fidelity<sup>®</sup> VIP Health Care Portfolio Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.88% | 11.45% |  |  | 3 |
| U.S. Equity | Fidelity<sup>®</sup> VIP Index 500 Service 2 - Geode Capital Management, LLC | 0.35% | 28.26% | 18.05% | 16.15% | 3 |
| International <br>Equity | Fidelity<sup>®</sup> VIP International Index Service 2 - Geode Capital Management, LLC | 0.42% | 7.48% |  |  | 3 |
| Taxable Bond | Fidelity<sup>®</sup> VIP Investment Grade Bond Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.64% | -0.90% | 4.08% | 3.29% | 1 |
| U.S. Equity | Fidelity<sup>®</sup> VIP Mid Cap Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.86% | 25.31% | 13.32% | 13.00% | 4 |
| Sector Equity | Fidelity<sup>®</sup> VIP Technology Initial - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.62% | 28.16% | 34.83% | 24.38% | 4 |
| U.S. Equity | Fidelity<sup>®</sup> VIP Total Market Index Service 2 - Geode Capital Management, LLC | 0.37% | 25.38% |  |  | 3 |
| Sector Equity | Fidelity<sup>®</sup> VIP Utilities Initial - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.65% | 17.43% | 13.13% | 11.57% | 4 |
| U.S. Equity | Fidelity<sup>®</sup> VIP Value Strategies Service 2 - FMR Investment Management (U.K.) Limited; *Fidelity Management & Research (Japan) Limited; Fidelity Management & Research (HK) Ltd* | 0.88% | 33.34% | 13.67% | 13.47% | 4 |

---

------

[**TABLE OF CONTENTS**](#TOC)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Asset<br>Allocation <br>Type** |  ***Portfolio Company - Investment Adviser; Sub-<br>Adviser(s), as applicable*** | **Current <br>Expenses** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **Average Annual Total Returns <br>*(as of 12/31/2021)*** | **SecurePay Income <br>Rider Allocation <br>Investment <br>Category<sup>(2)</sup>**  |
| **Asset<br>Allocation <br>Type** |  ***Portfolio Company - Investment Adviser; Sub-<br>Adviser(s), as applicable*** | **Current <br>Expenses** | **1 Year**  | **5 Year**  | **10 Year**  | |
| U.S. Equity | Franklin DynaTech VIP Fund - Class 2 | 0.92% | 16.14% | 23.64% | 16.66% | 4 |
| Allocation | Franklin Income VIP 2 | 0.72% | 16.75% | 7.45% | 7.38% | 2 |
| U.S. Equity | Franklin Rising Dividends VIP 2 | 0.88% | 26.79% | 16.81% | 14.40% | 3 |
| U.S. Equity | Franklin Small Cap Value VIP 2 | 0.91% | 25.37% | 9.94% | 12.13% | 4 |
| U.S. Equity | Franklin Small Mid Cap Growth VIP 2 | 1.08% | 10.01% | 20.84% | 15.70% | 4 |
| Taxable Bond | Goldman Sachs VIT Core Fixed Income Service<sup>(1)</sup> | 0.67% | -2.23% | 3.58% | 3.16% | 1 |
| U.S. Equity | Goldman Sachs VIT Mid Cap Growth Service (formerly, Goldman Sachs VIT Growth Opportunities Fund)<sup>(1)</sup> | 0.99% | 11.48% | 21.22% | 16.00% | 3 |
| U.S. Equity | Goldman Sachs VIT Strategic Growth Service<sup>(1)</sup> | 0.99% | 21.56% | 24.26% | 18.71% | 3 |
| U.S. Equity | Invesco V.I. Discovery Mid Cap Growth II | 1.08% | 18.79% | 22.75% | 17.53% | 4 |
| U.S. Equity | Invesco V.I. Main Street Small Cap II | 1.09% | 22.26% | 13.46% | 14.40% | 4 |
| Allocation | Invesco VI Conservative Balanced II<sup>(1)</sup> | 0.92% | 10.30% | 8.80% | 8.20% | 2 |
| U.S. Equity | Invesco VI Comstock II | 0.99% | 33.04% | 11.12% | 12.59% | 4 |
| Allocation | Invesco VI Equity and Income II | 0.80% | 18.35% | 9.27% | 10.28% | 3 |
| International <br>Equity | Invesco VI Global II | 1.03% | 15.17% | 17.88% | 13.96% | 4 |
| Sector Equity | Invesco VI Global Real Estate II - Invesco Asset Management Ltd | 1.22% | 25.44% | 7.27% | 7.84% | 4 |
| Taxable Bond | Invesco VI Government Securities II | 0.93% | -2.43% | 2.21% | 1.52% | 1 |
| U.S. Equity | Invesco VI Growth and Income II | 0.99% | 28.19% | 9.94% | 12.05% | 4 |
| U.S. Equity | Invesco VI Small Cap Equity II | 1.20% | 20.09% | 13.15% | 12.01% | 4 |
| Money Market | Invesco VI US Government Money Portfolio I | 0.52% | 0.01% | 0.73% | 0.37% | 1 |
| Taxable Bond | Lord Abbett Series Bond-Debenture VC | 0.89% | 3.28% | 5.66% | 6.33% | 2 |
| U.S. Equity | Lord Abbett Series Dividend Growth VC<sup>(1)</sup> | 0.99% | 25.62% | 15.79% | 14.17% | 3 |
| U.S. Equity | Lord Abbett Series Growth Opportunities VC | 1.16% | 6.46% | 19.29% | 15.34% | 4 |
| Taxable Bond | Lord Abbett Series Short Duration Income VC | 0.83% | 0.63% | 2.42% |  | 1 |
| Taxable Bond | PIMCO VIT Low Duration Advisor | 0.75% | -1.03% | 1.44% | 1.49% | 1 |
| Taxable Bond | PIMCO VIT Real Return Advisor | 0.77% | 5.48% | 5.23% | 2.95% | 1 |
| Taxable Bond | PIMCO VIT Short-Term Advisor | 0.70% | -0.16% | 1.68% | 1.53% | 1 |
| Taxable Bond | PIMCO VIT Total Return Advisor | 0.75% | -1.36% | 3.83% | 3.33% | 1 |
| U.S. Equity | T. Rowe Price All-Cap Opportunities Portfolio<sup>(1)</sup> | 0.80% | 20.80% | 26.19% | 19.64% | 4 |
| U.S. Equity | T. Rowe Price Blue Chip Growth Portfolio II<sup>(1)</sup> | 1.00% | 17.33% | 22.96% | 18.93% | 3 |
| Sector Equity | T. Rowe Price Health Sciences Portfolio II<sup>(1)</sup> | 1.19% | 12.83% | 19.22% | 20.13% | 4 |
| Allocation | T. Rowe Price Moderate Allocation<sup>(1)</sup> | 0.85% | 10.06% | 10.98% | 9.85% | 2 |
| International <br>Equity | Templeton Developing Markets VIP 2 - Franklin Templeton Investment Management Ltd | 1.44% | -5.74% | 10.60% | 4.84% | 4 |

---

<sup>(1)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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 Contract Owners and will continue past the current year.*

<sup>(2)</sup>

*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If you have purchased the SecurePay Income rider, you must allocate your Purchase Payments and Contract Value in accordance with the Allocation Guidelines and Restrictions that we have established. The following table specifies the minimum and maximum percentages of your Contract Value that must be allocated to each of the four Investment Categories during the accumulation phase in order for you to remain eligible for benefits under the SecurePay Income rider (unless you are fully invested in a Pre-selected Allocation Option). You can select the percentage of Contract Value to allocate to individual Funds within each group, but the total investment for all Funds in a group must comply with the specified minimum and maximum percentages for that group. See "ALLOCATION GUIDELINES AND RESTRICTIONS FOR SECUREPAY INCOME RIDER" in the Prospectus.*

------

[**TABLE OF CONTENTS**](#TOC)

---

| | | |
|:---|:---|:---|
| **Investment Category** | **Minimum Allocation** | **Maximum Allocation** |
| 1 | 10% | 100% |
| 2 | 0% | 90% |
| 3 | 0% | 40% |
| 4 | Not Permitted | Not Permitted |

---

------

[**TABLE OF CONTENTS**](#TOC)

This Summary Prospectus incorporates by reference the Protective Dimensions V Variable Annuity Contract's Prospectus and Statement of Additional Information (SAI), both dated December 21, 2022, as amended or supplemented. The SAI may be obtained, free of charge, in the same manner as the Prospectus.

EDGAR Contract Identifier: C000239629

------