Document:

Exhibit

PROTECTIVE LIFE INSURANCE COMPANY
2801 Highway 280 South
Birmingham, Alabama 35223

ENDORSEMENT

The Contract to which this Endorsement is attached is amended as of its Contract Date as follows:

SECTION: DEFINITIONS

		
	1.
	The definition entitled “Beneficiary” is deleted in its entirety and a new definition is inserted in lieu thereof to read as follows:

		
	BENEFICIARY - 
	PRIMARY: The person named to receive the Death Benefit under this Contract upon the death of any Owner. Upon the death of any Owner, the surviving Owner, if any, will be the Beneficiary.

CONTINGENT: The person named to receive the Death Benefit if the Primary Beneficiary is not living at any Owner’s death.
IRREVOCABLE: One whose consent is necessary to change the Beneficiary or exercise certain other rights.

		
	2.
	The provision entitled “Surrender Charges” is deleted in its entirety and is replaced by the following:

A Surrender Charge, if applicable, is deducted from any Sub-Account Value from which a full or partial surrender is made prior to the end of an Initial or Subsequent Guaranteed Period. The Surrender Charge is calculated as six months of interest on the amount withdrawn from a Sub-Account Value. Provided, however, the Surrender Charge for all full and partial surrenders made during an Initial or Subsequent Guaranteed Period shall not exceed in the aggregate a total of six months’ interest on the amount of (1) the Annuity Deposit originally allocated to the Sub-Accounts(s) from which the full or partial surrender is made during an Initial Guaranteed Period; or (2) the Sub-Account Value(s) originally transferred to a Subsequent Guaranteed Period from which the full or partial surrender is made during a Subsequent Guaranteed Period.

SECTION: GENERAL PROVISIONS

		
	3.
	The provision entitled “Annuity Commencement Date Changes” is deleted in its entirety and a new provision entitled “Annuity Commencement Date” is inserted in lieu thereof to read as follows:

The Annuity Commencement Date: (1) cannot be before the end of any Guaranteed Period; and (2) must be on or before the Annuitant’s 85th birthday or the date specified on the Schedule. Upon notification in Writing, you may change the Annuity Commencement Date. Notification must be received at least 30 days before the proposed Annuity Commencement Date. Any request for extension of the maximum Annuity Commencement Date must be approved by the Home Office.

SECTION: CONTROL PROVISIONS

		
	4.
	A new provision entitled “Annuitant” is added to the Control Provisions section as follows:

ANNUITANT – The Annuitant may be changed prior to the Annuity Commencement Date provided such change is made in Writing on a form acceptable to us. Once it is received and acknowledged at our Home Office, any change will relate back to and take effect on the date the request was signed. If the Annuitant dies prior to the Annuity Commencement Date, the Owner first named on the application shall become the Annuitant, unless otherwise designated.

		
	5.
	The second sentence of the provision entitled “Beneficiary” is deleted and a new sentence is inserted in lieu thereof to read as follows:

You may change the Beneficiary at any time.

		
	6.
	The first sentence of the provision entitled “Control” is deleted and a new sentence is inserted in lieu thereof to read as follows:

You may assign the Contract; surrender the Contract; amend or modify the Contract with our consent, exercise, receive and enjoy every other right and benefit contained in the Contract.

		
	7.
	The provision entitled “Death of Annuitant or Owner” is deleted in its entirety and a new provision is inserted in lieu thereof to read as follows:

Death of Annuitant – If the Annuitant is other than the Owner and the Annuitant dies prior to the Annuity Commencement Date, the Owner first named on the application shall become the Annuitant, unless otherwise designated.

Death of Owner – If any Owner dies before the Annuity Commencement Date, the Death Benefit will be paid to the surviving Owner, if any. If there is no surviving Owner, the Death Benefit will be paid to the Beneficiary named by the Owner.

IPD 2007

If no Beneficiary designation is in effect or if there is no designated Beneficiary living, the Death Benefit will be paid to the estate of the deceased Owner.

If any Owner is not an individual, the death or change of the Annuitant will be treated as the death of an Owner.

		
	8.
	The provision entitled “Death Benefit” is deleted in its entirety and a new provision is inserted in lieu thereof to read as follows:

If any Owner dies prior to the Annuity Commencement Date, a guaranteed Death Benefit will be payable to the Beneficiary. The guaranteed Death Benefit will be calculated as of the date of death. The guaranteed Death Benefit during an Initial or Subsequent Guaranteed Period will equal the Account Value.

If applicable, the guaranteed Death Benefit payable for all Guaranteed Periods will be totalled to obtain the guaranteed DeathBenefit payable.

The guaranteed Death Benefit may be taken in one sum immediately or the entire Account Value must be distributed within five years of the date of death unless:

		
	(a)
	it is payable over the life of the designated Beneficiary with distributions beginning with one year of the date of death; or

		
	(b)
	it is payable over a period not extending beyond the life expectancy of the designated Beneficiary with distributions beginning within one year of the date of death; or

		
	(c)
	if the deceased Owner’s spouse is the designated Beneficiary, that spouse may elect to continue this Certificate and become the new Owner. 

The Beneficiary will have 60 days from the date of death to exercise their right to the guaranteed Death Benefit without incurring a Surrender Charge or Market Value Adjustment.

		
	9.
	The second paragraph of the provision entitled “Surrenders – Termination” is hereby deleted in its entirety and a new paragraph is inserted in lieu thereof to read as follows:

A Surrender Charge, if applicable, will be applied to a full or partial surrender requested prior to the end of a Guaranteed Period. The Surrender Charge is calculated as six months of interest on the amount withdrawn from a Sub-Account Value. Provided, however, the Surrender Charge for all full and partial surrenders made during an Initial or Subsequent Guaranteed Period shall not exceed in the aggregate a total of six months’ interest on the amount of (1) the Annuity Deposit originally allocated to the Sub-Account(s) from which the full or partial surrender is made during an Initial Guaranteed Period; or (2) the Sub-Account Value(s) originally transferred to a Subsequent Guaranteed Period from which the full or partial surrender is made during a Subsequent Guaranteed Period. Such interest will be computed at the same interest rate we are crediting the Sub-Account from which the full or partial surrender is made. A Surrender Charge will apply during the first seven years of all Initial Guaranteed Periods. A Surrender Charge will also apply during the first seven years of all Subsequent Guaranteed Periods. A Surrender Charge will not be deducted after the first seven years of each Initial and Subsequent Guaranteed Periods with a duration greater than seven years.

ANNUITY OPTIONS

		
	10.
	The fifth paragraph of the provision entitled “Annuity Benefit” is deleted in its entirety and a new paragraph is inserted in lieu thereof to read as follows:

If any Owner dies on or after the Annuity Commencement Date, the Beneficiary will become the new Owner. If any Owner or Annuitant dies on or after the Annuity Commencement Date and before all of the benefits under the Annuity Option selected have been paid, any remaining portion of such benefits will be paid out at least as fast as under the Annuity Option being used when the Owner or Annuitant died.

IPD 2007Exhibit

PROTECTIVE LIFE INSURANCE COMPANY
2801 Highway 280 South
Birmingham, Alabama 35223

ENDORSEMENT

The contract to which this Endorsement is attached is amended as of its Contract Date as follows:

DEFINITION

		
	1.
	The definition entitled “Annuity Deposit” is deleted in its entirety and a new Definition is inserted in lieu thereof to read as follows:

Annuity Deposit(s) – The Annuity Deposit(s) made and allocated to each Guaranteed Period(s) selected under each Certificate issued under the Contract. Each Annuity Deposit must be at least $5,000 unless approved by the Company.

		
	2.
	The following sentences shall be added to the definition of Initial Guaranteed Interest Rate: “The Initial Guaranteed Interest Rate for additional Annuity Deposits shall be determined as of the date the additional Annuity Deposits are received and will be credited to the Sub-Account for the Initial Guaranteed Period you select for such additional Annuity Deposits.

		
	3.
	The definition entitled Sub-Account Value is deleted in its entirety and a new definition entitled Sub-Account Value is inserted in lieu thereof to read as follows:

“The amount equal to that part of each Annuity Deposit allocated by a Participant to a Sub-Account(s) or any amount transferred to a Sub-Account(s) at the end of a Guaranteed Period increased by all interest credited and decreased by amounts due to previous full or partial surrenders (including Surrender Charges, Market Value Adjustments, and Premium Taxes thereon) and previous interest withdrawals.”

ANNUITY DEPOSIT

The provision entitled “ANNUITY DEPOSIT” is deleted in its entirety and a new provision entitled “ANNUITY DEPOSIT(S)” is inserted in lieu thereof to read as follows:

To participate under this Contract, a Participant or Contract Holder on behalf of the Participant must pay an Annuity Deposit. The Initial Annuity Deposit must be accompanied by a properly completed Application. Additional Annuity Deposits can be made. Regardless of the number of Annuity Deposits made, only one Certificate will be issued. We reserve the right to limit the amount of the Participant’s Annuity Deposit(s).

Sub-Accounts

Each Annuity Deposit (less applicable Premium Taxes, if any) will be allocated to one or more Sub-Accounts chosen by the Participant for each specified Guaranteed Period and Guaranteed Interest Rate. The minimum allocation to a Sub-Account must be at least $5,000, unless approved by the Company. The value of the Participant’s Sub-Accounts will be determined in accordance with the terms of this Contract. One or more Sub-Accounts are maintained for the Participant. Prior to the end of a Guaranteed Period, Sub-Account Values may not be transferred from one Sub-Account to a new Sub-Account. Upon notice to us, Sub-Account Values can be transferred from one Sub-Account to a new Sub-Account at the end of a Guaranteed Period. The amount transferred is subject to the Annuity Deposit minimums and the amount remaining in the Sub-Account after transfer must be either (1) at least $5,000 or (2) an amount approved by the Company. We will notify the Participant within twenty days prior to the end of a Guaranteed Period of the right to transfer. If we have not received notice from the Participant during this period, all Sub-Account Values will be automatically transferred to a Subsequent Guaranteed Period of either (1) the same duration as the previous Guaranteed Period if then offered by us; or (2) the shortest duration then offered by us which is closest to the same duration as a Participant’s previous Guaranteed Period and which would not extend beyond the Annuity Commencement Date. If a Guaranteed Period extends beyond the Annuity Commencement Date, the Sub-Account Value will be transferred to a one year Guaranteed Period. On the Annuity Commencement Date, the Sub-Account Value in the one year Guaranteed Period will be available to the Participant without a Surrender Charge or Market Value Adjustment for application under the Annuity Options selected. 

Signed for the Company as of the effective date, which is the Contract Date.

PROTECTIVE LIFE INSURANCE COMPANY

/s/ John K. Wright

Secretary

IPD-2013

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