Document:

Exhibit 4(i)

 

PROTECTIVE
LIFE INSURANCE COMPANY { P. O. BOX 10648 BIRMINGHAM, ALABAMA 35202-0648 }

 

ROTH INDIVIDUAL RETIREMENT ANNUITY (IRA) ENDORSEMENT

FOR DEFERRED ANNUITY CONTRACTS

 

The
Contract to which this Individual Retirement Annuity Endorsement is attached is
issued as an individual retirement annuity under Section 408A of the
Internal Revenue Code of 1986, as amended (the “Code”). Accordingly, the
applicable provisions of the Contract are restricted or amended by this
Endorsement as required by Code Section 408A.

 

The
Contract is amended as follows:

 

1.                                           OWNER AND ANNUITANT

The
Annuitant must be an individual who is the sole Owner, and all payments made
from the Contract while the Annuitant is alive must be made to the Annuitant.
Except as permitted under Section 8 of this Endorsement, and otherwise
permitted under the Code and applicable regulations, neither the Owner nor the
Annuitant can be changed.

 

2.                                           NONTRANSFERABLE AND NONFORFEITABLE

The
Contract is established for the exclusive benefit of the Owner and his or her
beneficiaries. The Owner’s interest under the Contract is nontransferable, and
except as provided by law, is nonforfeitable. In particular, the Contract may
not be sold, assigned, discounted or pledged as collateral for a loan or as security
for the performance of any obligation or for any other purpose, to any person
other than the Company (other than a transfer incident to a divorce or
separation instrument in accordance with Code Section 408(d)(6)).

 

3.                                           PURCHASE PAYMENTS

Except
in the case of a rollover contribution described in section 408A(e), a
recharacterized contribution described in section 408A(d)(6), or an IRA
Conversion Contribution, Purchase Payments may not exceed $3,000 for any
taxable year beginning in 2002 through 2004, $4,000 for any taxable year
beginning in 2005 through 2007, and $5,000 for any taxable year beginning in
2008 and years thereafter. After 2008, the limit will be adjusted by the
Secretary of the Treasury for cost-of-living increases under Code Section 219(b)(5)(C).
Such adjustments will be in multiples of $500. In the case of an individual who
is 50 or older, the annual cash contribution limit is increased by $500 for any
taxable year beginning in 2002 through 2005, and $1,000 for any taxable year
beginning in 2006 and years thereafter.

 

The
contribution limit described above is gradually reduced to $0 for higher income
Annuitants. For a single Annuitant, the annual contribution is phased out
between adjusted gross income (AGI) of $95,000 and $110,000; for a married
Annuitant filing jointly, between AGI of $150,000 and $160,000; for a married
Annuitant filing separately, between AGI of $0 and $10,000. In the case of a
conversion, we will not accept IRA Conversion Contributions in a tax year if
the Annuitant’s AGI for the tax year the funds were distributed from the other
IRA exceeds $100,000 or if the Annuitant is married and files a separate
return. Adjusted gross income is defined in section 408A(c)(3) and does
not include IRA Conversion Contributions.

 

In
the case of a joint return, the AGI limits described above apply to the
combined AGI of the Annuitant and his or her spouse.

 

	
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4.                                      DISTRIBUTIONS AFTER DEATH OF THE OWNER

If
the Annuitant dies before his or her entire interest in the Contract is
distributed to him or her and the Annuitant’s surviving spouse is not the sole
designated beneficiary, the remaining interest in the Contract must be
distributed in accordance with (a) below or, if elected or there is no
designated beneficiary, in accordance with (b) below.

 

(a)          The remaining interest in
the Contract must be distributed, starting by the end of the calendar year
following the year of the Annuitant’s death, over the designated beneficiary’s
remaining life expectancy, or a period no longer than such remaining life
expectancy, as determined in the year following the death of the Annuitant.

 

(b)         The remaining interest in
the Contract must be distributed by the end of the calendar year containing the
fifth anniversary of the Annuitant’s death.

 

If
the Annuitant’s surviving spouse is the sole designated beneficiary, such
spouse will then be treated as the Annuitant.

 

5.                                      ANNUAL REPORTS

The
Company will furnish annual calendar year reports concerning the status of this
Contract and such information concerning required minimum distributions as is
prescribed by the Commissioner of the Internal Revenue Service.

 

6.                                      CODE SECTION 72(s)

All
references in the Contract to Code Section 72(s) are deleted.

 

7.                                      AMENDMENT OF THIS ENDORSEMENT

The
Company reserves the right, and the Owner agrees the Company shall have such
right, to make any amendments to this Endorsement from time to time as may be
necessary to comply with the Code, as amended, and the regulations thereunder.
We will obtain all necessary approvals including, where required, that of the
Owner and will send you a copy of the endorsement that modifies your Contract.
We will not be responsible for any adverse tax consequences resulting from the
rejection of such an amendment.

 

8.                                      GROUP CONTRACT

If
this Endorsement is used with a certificate issued under a group contract, the
term “Owner” refers to the Participant/Annuitant and the term “Contract” refers
to your Certificate.

 

Signed
for the Company as of the Effective Date.

 

Protective
Life Insurance Company

 

	
  /s/ Deborah J. Long

  	
   

  
	
  { Deborah J. Long }

  	
   

  
	
  Secretary

  	
   

  

 

2Exhibit 4(j)

 

PROTECTIVE
LIFE INSURANCE COMPANY P. O. BOX 10648 BIRMINGHAM, ALABAMA 35202-0648

 

QUALIFIED RETIREMENT PLAN ENDORSEMENT

FOR DEFERRED ANNUITY CONTRACTS

 

All
provisions of the Contract to which this Qualified Retirement Plan Endorsement
is attached shall be interpreted in accordance with the applicable requirements
of section 401(a) of the Internal Revenue Code of 1986, as amended (the “Code”).

 

The
Contract is amended as of the Effective Date as follows:

 

1.                                                OWNER AND ANNUITANT

The
Contract is issued to a trustee of a qualified retirement plan under Code
section 401(a) (the “Plan”) maintained on behalf of the participants for
whom the Contract is purchased. Such trustee is the Owner and the Beneficiary.

 

The
term “participant” as used in this Endorsement shall mean the individual
employee or former employee for whose benefit the Plan is maintained and on
whose behalf the Contract is purchased. The Annuitant shall be the participant
and, except as otherwise provided under the Code and applicable regulations,
the Annuitant cannot be changed.

 

The
trustee shall not distribute the Contract to the Annuitant until the occurrence
of a distributable event under the Plan under which the Contract was purchased.
If the Contract is distributed to the Annuitant: (A) the Annuitant becomes
the Owner; (B) all payments made from the Contract while the Annuitant is
alive must be made to the Annuitant; (C) the provisions below apply to the
Annuitant; and (D) the Annuitant may designate a new Beneficiary. If the
Annuitant does not designate a new Beneficiary, then the estate of the
Annuitant shall be the Beneficiary.

 

2.                                                NONTRANSFERABLE AND NONFORFEITABLE

The
Owner’s interest under the Contract is nontransferable (within the meaning of
Code section 401(g)) and is nonforfeitable. In particular, except as permitted
by federal tax law, the Contract may not be sold, assigned, discounted or
pledged as collateral for a loan or as security for the performance of any
obligation or for any other purpose, to any person other than the Company.

 

3.                                           PLAN ADMINISTRATOR

The
Plan Administrator is: (a) your employer; or (b) the person(s) designated
by your employer under the terms of the Plan. Protective Life Insurance Company
(the “Company”) is not the Plan Administrator or a plan fiduciary.

 

	
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4.                                           PLAN PROVISIONS

The
terms of the Contract and this Endorsement are subject to the provisions of the
Plan under which the Contract is issued. The Owner’s ability to exercise any rights
under this Contract is subject to the terms of the Plan in connection with
which this Contract was issued. The Owner and Plan Administrator are
responsible for ensuring that any elections made under the Contract are made in
accordance with the terms of the Plan. Therefore, you should contact your Plan
Administrator before exercising any rights you may have under this Contract to
ensure that your actions are in accordance with the terms of the Plan. The
Company assumes that the exercise of all rights by the Owner of the Contract,
and the distribution of the Contract to a participant, are in accordance with
the terms of the Plan in connection with which this Contract was issued.

 

5.                                           LUMP SUM PAYMENTS

No
amount may be paid from the Contract in a lump sum unless such payment is
allowed under both the Plan for which the Contract is purchased and the Code,
including the regulations thereunder. We will not pay the Contract Value in one
lump sum in lieu of any annuity income payments if the Contract Value is greater
than $5,000, as determined on the first day of the month preceding the Annuity
Commencement Date, in accordance with the requirements of Code sections
411(a)(11) and 417, including the regulations thereunder.

 

6.                                           PURCHASE PAYMENTS

All
Purchase Payments may be paid only under the Plan by the Owner who is a trustee
of the Plan, and if the Participant becomes the Owner of the Contact as a
result of the Contract being distributed to the participant, premiums may not
be paid after the Contract is distributed. Premium payments are subject to the
terms of the Plan, including the maximum limitations on contributions. The
Company will not accept a Purchase Payment that includes after-tax
contributions.

 

7.                                           REQUIRED DISTRIBUTIONS GENERALLY

The
entire interest in the Contract shall be distributed as required under Code
sections 401(a)(9) and applicable federal income tax regulations. The
provisions of this Endorsement reflecting these requirements override any
provision of the Contract that is inconsistent with such requirements.

 

8.                                           REQUIRED BEGINNING DATE

As
used in this Endorsement, the term “Required Beginning Date” means April 1
of the calendar year following the calendar year following the later of (1) the
calendar year in which the participant attains age 701⁄2;or (2) the calendar
year in which the participant retires, or such later date as provided by law.
However, unless the participant’s interest in the Contract is on account of his
or her participation in a governmental plan (as defined in Code section 414(d))
or church plan (as defined in Code section 401(a)(9)(C)), if the participant is
a 5-percent owner (as defined in IRC section 416) with respect to the plan year
ending in the calendar year in which the participant attains age 701⁄2  ,the
Required Beginning Date is April 1 of the calendar year following the
calendar year in which the participant attains age 701⁄2.

 

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9.                                      DISTRIBUTIONS DURING ANNUITANT’S LIFE

A.                                   Unless
otherwise permitted under applicable law, the Annuitant’s entire interest in
the Contract shall be distributed, or commence to be distributed, no later than
the Required Beginning Date over:

 

(i)                                     the life of the
Annuitant, or the lives of the Annuitant and his or her designated beneficiary
(within the meaning of Code section 401(a)(9)), or

 

(ii)                                  a period not
extending beyond the life expectancy of the Annuitant, or the joint and last
survivor expectancy of the Annuitant and his or her designated beneficiary.

 

Payments
must be made in periodic intervals of no longer than one year. In addition,
payments must be either nonincreasing or they may increase only as provided by
applicable federal tax law.

 

B.                                     If the
Annuitant’s interest is to be distributed over a period greater than one year,
the amount to be distributed by December 31 of each year (including the
year in which the Required Beginning Date occurs) will be made in accordance
with the requirements of Code section 401(a)(9) and the regulations
thereunder, including the incidental death benefit requirements of Code section
401(a)(9)(G) and the regulations thereunder, including the minimum
distribution incidental benefit requirement under such regulations.

 

10.                             DISTRIBUTIONS
AFTER DEATH OF THE ANNUITANT

A.                                   Unless
otherwise permitted under applicable federal tax law, if the Annuitant dies
before distribution of his or her interest in the Contract has begun,
distribution of the Annuitant’s entire interest will be distributed in
accordance with one of the following three provisions:

 

(i)                                     The entire
interest will be distributed by December 31 of the calendar year
containing the fifth anniversary of the Annuitant’s death.

 

(ii)                                  If the interest
is payable to an individual who is the Annuitant’s designated beneficiary,
except as provided in paragraph (iii) below, the entire interest will be
distributed beginning on or before December 31 of the calendar year
immediately following the calendar year in which the Annuitant died and will be
made over the life of the designated beneficiary or over a period not extending
beyond the life expectancy of the designated beneficiary. The irrevocable
election of this method of distribution must be made by the designated
beneficiary no later than December 31 of the calendar year immediately
following the calendar year in which the Annuitant died.

 

(iii)                               If the
designated beneficiary is the Annuitant’s surviving spouse, the spouse may

 

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irrevocably
elect to receive payments over the life of the surviving spouse or over a
period not extending beyond the life expectancy of the surviving spouse,
commencing at any date prior to the later of: (a) December 31 of the
calendar year immediately following the calendar year in which the Annuitant
died; and (b) December 31 of the calendar year in which the Annuitant
would have attained age 701/2. Such election by the surviving spouse must be
made no later than the earlier of December 31 of the calendar year
containing the fifth anniversary of the Annuitant’s death or the date
distributions are required to begin pursuant to the preceding sentence.

 

If
the surviving spouse dies before distributions begin, the limitations of this
section 10.A (without regard to this paragraph iii) shall be applied as if the
surviving spouse were the Annuitant.

 

B.                                     Unless
otherwise permitted under applicable federal tax law, if the Annuitant dies
after distribution of his or her interest in the Contract has begun, the
remaining portion of such interest, if any, will continue to be distributed at
least as rapidly as under the method of distribution being used at the time of
the Annuitant’s death.

 

C.                                     Distributions
under this section are considered to have begun if distributions are made on
account of the Annuitant reaching his or her Required Beginning Date or if prior
to the Required Beginning Date distributions irrevocably (except for
acceleration) commence to the Annuitant over a period permitted and in an
annuity form acceptable under applicable federal tax law.

 

11.                                    LIFE EXPECTANCY CALCULATIONS

Unless
otherwise provided by applicable federal tax law, life expectancy is computed
using the expected return multiples in Tables V and VI of Section 1.72-9
of the Federal income tax regulations in accordance with Code sections 401(a)(9) and
the regulations thereunder. Life expectancy will not be recalculated with
respect to payments under an annuity option under the Contract. In other
situations, life expectancy will not be recalculated unless otherwise permitted
under Code section 401(a)(9) and the regulations thereunder.

 

12.                                    ANNUITY OPTIONS AND WITHDRAWALS

All
annuity options under the Contract must meet the requirements of Code sections
401(a), including sections 401(a)(9) and 401(a)(11), as applicable. The
provisions of this Endorsement reflecting the requirements of these Code
sections override any annuity option that is inconsistent with such
requirements.

 

An
Annuitant who is married must have the consent of his spouse in order to: (i) withdraw
all or part

 

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of
the Contract Value; or, (ii) choose an annuity option other than a
qualified joint and survivor annuity within the meaning of Code section 417. If
no annuity option is chosen, a qualified joint and survivor annuity will be
automatic for a married Annuitant. An unmarried Annuitant will be deemed to
have elected a life annuity unless a different election is made in the manner
required under Code section 417. Also, if a married Annuitant dies before the
annuity starting date (within the meaning of Code section 401(a)(11)(A)(ii)),
the death benefit will be paid as a qualified pre-retirement survivor annuity
within the meaning of Code section 417, unless the surviving spouse consents
otherwise.

 

If
guaranteed payments are to be made under an annuity option, the period over
which the guaranteed payments are to be made must not exceed the period
permitted under Q&A-3 of Section 1.401(a)(9)-6 of the Proposed Income
Tax Regulations (except as otherwise provided by applicable federal tax law).

 

13.                                    NOTICES, ELECTIONS, AND CONSENTS

We
must receive written notice, in a form and manner acceptable to us, of any
request to take a partial or total surrender, elect a payment option, or
exercise any other right under this Contract. Elections and consents made
pursuant to this Contract and this Endorsement may be made and revoked only in
the form, time, and manner prescribed in Code section 417 (and applicable
regulations).

 

14.                                    DIRECT ROLLOVERS

A
distributee may elect, at the time and in the manner prescribed by us, to have
any portion of an eligible rollover distribution paid directly to an eligible
retirement plan specified by the distributee in a direct rollover.

 

A.                                   A distributee
includes an Annuitant. In addition, the Annuitant’s surviving spouse and the
Annuitant’s spouse or former spouse who is the alternative payee under a
qualified domestic relations order, as defined in Code section 414(p), are
distributees with regard to the interest of the spouse or former spouse.

 

B.                                     An eligible
rollover distribution is any distribution of all or any portion of the balance
to the credit of the distributee, except that an eligible rollover distribution
does not include (i) any distribution that is one of a series of
substantially equal periodic payments (not less frequently than annually) made
for the life (or life expectancy) of the distributee or the joint lives (or
joint and last survivor expectancies) of the distributee and the distributee’s
designated beneficiary, or for a specified period of ten years or more; (ii) any
distribution to the extent such distribution is required under Code section
401(a)(9); (iii) the portion of any distribution that is not includible in
gross income (determined without regard to the exclusion for net unrealized
appreciation with respect to employer securities); (iv) any hardship
distribution described in Code section 401(k)(2)(B)(i)(IV) made to your
after 1998; and (v) any other amounts designated in published federal
income tax guidance.

 

C.                                     An eligible
retirement plan is an individual retirement account described in Code section

 

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408(a), an individual retirement annuity described in Code section
408(b), an annuity plan described in Code section 403(a), or a qualified trust
described in Code section 401(a), that accepts the distributee’s eligible
rollover distribution. However, in the case of an eligible rollover
distribution to the surviving spouse, an eligible retirement plan is an
individual retirement account or individual retirement annuity.

 

D.                                    A direct rollover
is a payment by us to the eligible retirement plan specified by the
distributee.

 

E.                                      Except as
otherwise provided under applicable federal tax law, the following provisions
shall apply with respect to distributions after December 31, 2001, for purposes
of this section 14.

 

(i)                                     An eligible
retirement plan shall also mean an annuity contract described in Code section
403(b) and an eligible plan under Code section 457(b) which is
maintained by a state, political subdivision of a state, or any agency or
instrumentality of a state or political subdivision of a state and which agrees
to separately account for amounts transferred into such plan from the Plan. The
definition of eligible retirement plan shall also apply in the case of a
distribution to a surviving spouse, or to a spouse or former spouse who is the
alternate payee under a qualified domestic relation order, as defined in Code
section 414(p).

 

(ii)                                  Any amount that
is distributed on account of hardship shall not be an eligible rollover
distribution and the distributee may not elect to have any portion of such a
distribution paid directly to an eligible retirement plan.

 

(iii)                               To the extent
permitted by federal tax law, a portion of a distribution shall not fail to be
an eligible rollover distribution merely because the portion consists of after-tax
employee contributions that are not includible in gross income. However, such
portion may be transferred only to an individual retirement account or annuity
described in Code section 408(a) or (b), or to a qualified defined
contribution plan described in Code section 401(a) or 403(a) that
agrees to separately account for amounts so transferred, including separately
accounting for the portion of such distribution which is includible in gross
income and the portion of such distribution which is not so includible.

 

15.                               CODE SECTION 72(s)

All references in the Contract to Code section 72(s) are deleted.

 

6

 

16.                               AMENDMENT OF THIS ENDORSEMENT

The Company reserves the right, and the Owner agrees
the Company shall have such right, to make any amendments to this Endorsement
from time to time as may be necessary to comply with the Code, as amended, and
the regulations thereunder. We will obtain all necessary approvals including,
where required, that of the Owner and will send you a copy of the endorsement
that modifies your Contract. We will not be responsible for any adverse tax
consequences resulting from the rejection of such an amendment.

 

17.                               GROUP CONTRACT

If this Endorsement is used with a certificate
issued under a group contract, the term “Owner” refers to the
Participant/Annuitant and the term “Contract” refers to your Certificate.

 

Signed for the Company as of the Effective Date.

 

Protective Life Insurance Company

 

	
  /s/ Deborah J. Long

  	
   

  
	
  Deborah J. Long

  	
   

  
	
  Secretary

  	
   

  

 

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