Protective Lifetime Assurance UL

Product Pro昀椀le ® PROTECTIVE LIFETIME ASSURANCE UL Universal Life Insurance

You need life insurance to ensure your loved ones' 昀椀nancial security. But you may feel stuck between the desire to protect them for life and the reality of needing to stick to a budget. At Protective, we understand that some people need straightforward, predictable protection — without all the bells and whistles. That's why we're proud to o昀昀er Protective Lifetime Assurance UL, a universal life insurance policy that pairs guaranteed lifetime coverage with stable, predictable payments, so you always know what to expect out of your policy, both now and later down the road.

Protection for Your Loved Ones Life insurance is about protection. It helps provide security for your loved ones when they need it most. Providing them with this protection can help ensure they do not face the added burden of 昀椀nancial pressures should something happen to you. Death Bene昀椀t Coverage The death bene昀椀t from your Protective Lifetime Assurance UL policy can be paid directly to your bene昀椀ciaries to help them replace your income and maintain their standard of living. It may also help cover things like burial, 昀椀nal expenses and recurring or future expenses. With Protective Lifetime Assurance UL, you also have the option of decreasing your death bene昀椀t amount without having to buy a new, separate policy if your needs change. Your death bene昀椀t coverage can even be guaranteed up to your lifetime, meaning your policy will not lapse as 1 long as your planned premiums are paid. 1 Lapse protection guarantees the policy death bene昀椀t for the duration of the guarantee and does not cover cash or surrender value. Loans, withdrawals, and other policy and premium changes will a昀昀ect the cost and length of protection. Failure to make premium payments as planned may cause the policy to lose lapse protection and premiums required to restore it could be signi昀椀cantly higher. Refer to the policy and endorsements for complete terms, conditions and limitations. 1

® ® Protective Lifetime Assurance UL | About Protective Lifetime Assurance UL About Protective Lifetime Assurance UL When you apply for a Protective Lifetime Assurance Select Preferred 18 - 75 UL policy, you will be classi昀椀ed in an underwriting category. This classi昀椀cation will be based on your current health and insurance risk factors to Preferred 18 - 85 determine your policy rates. The policy also has de昀椀ned issue ages as follows: Non-Tobacco 18 - 85 The minimum policy face amount (death bene昀椀t) is $50,000 for applicants rated in the Non-Tobacco Tobacco 18 - 85 and Tobacco classes, and $100,000 for all other classes. There is no maximum face amount. Coverage length must be There are certain fees and charges associated with at least 20 years. a Protective Lifetime Assurance UL policy. Premium load 25% — applies to all policy years and premiums. Monthly administrative charge $5.50 — applies to all policy years but discontinues at age 121. Monthly cost of insurance charge Varies by issue age, gender, underwriting class, policy year and any ratings; discontinues at age 121. Monthly expense charge Per $1,000 of initial face amount; varies by age, gender, and underwriting class; applies to all policy years but discontinues at age 121. Living bene昀椀ts Cash value accumulation is unlikely. However, in certain scenarios, the Protective Lifetime Assurance UL policy earns a guaranteed annual e昀昀ective interest rate of 2.0%. The current credited rate could be higher and will be determined periodically by Protective Life. If you need to access your policy’s cash value, all withdrawals are charged a $25 fee and may reduce your policy’s death bene昀椀t amount, subject to minimums. Withdrawals will also impact lapse protection and surrender charges may apply. Loans are available after the 昀椀rst policy year and interest will be charged at 5% in arrears for all policy years. Keep in mind loans and withdrawals may impact the policy. 2

2 Return of Premium Endorsement In the case that you choose to cancel your policy, the Return of Premium Endorsement returns a portion of your paid premiums back into your pocket. Endorsement details On or after the 10th policy anniversary, the Return of Premium Endorsement will pay you 25% of all premiums paid to date if you choose to cancel your coverage. Endorsement eligibility Policyholders are eligible for the Return of Premium Endorsement regardless of issue age. The endorsement is available to those who fall within the Non-Tobacco, Preferred or Select Preferred underwriting classes, as well as to those with table ratings up to and including Table 4 and policyholders with a 昀氀at extra premium up to and including $5 per thousand. Applicants are not eligible for this endorsement if they fall within the Tobacco underwriting class. 2 The Return of Premium payout cannot be greater than 50% of the lowest death bene昀椀t. 3

® Protective Lifetime Assurance UL | What happens next? What happens next? If you decide a Protective Lifetime Assurance UL policy is right for you, the application process begins. Your 昀椀nancial professional will ask you to sign some forms and might need to ask a few medical questions. This is also when you will complete the application and select your face amount and any optional bene昀椀ts or riders. In most cases, a medical professional will then contact you to schedule a life insurance physical examination, usually completed in your own home. At this point, your application will be sent to Protective for the underwriting process. This is where we review the information on your application and the results of your physical examination. Depending on your medical history and exam results, medical records or additional underwriting requirements may be required to determine your health risk and quali昀椀cation for the policy. This process generally takes a few weeks. If approved, you will receive a copy of your policy. You should 昀椀le this with your other important documents and also notify your bene昀椀ciaries. To retain the guarantee of coverage, you should pay your premiums according to the amount and schedule you set. It's important to regularly review your policy and annual report to make sure your strategy is still aligned with your goals. Universal life insurance can provide a variety of bene昀椀ts and features that may be appropriate for your 昀椀nancial circumstances. Protective Lifetime Assurance UL pairs straight- forward, guaranteed protection with stable and predictable payments, so you always know what to expect out of your policy. 4

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We’re Protective Protective provides protection that 昀椀ts your life, because we believe everyone deserves a sense of security and protection. We’ve been protecting people for over 110 years, delivering on our promises and pushing to do more for more people. Because we’re all protectors. protective.com Protective Lifetime Assurance UL (UL-22) is a universal life insurance policy issued by Protective Life Insurance Company, founded in 1907, located in Nashville, TN. Policy form numbers, product features and availability may vary by state. Consult policies for bene昀椀ts, riders, limitations and exclusions. Subject to underwriting. Up to a two-year contestable and suicide period. Bene昀椀ts adjusted for misstatements of age or sex. ® Protective is a registered trademark of Protective Life Insurance Company. The Protective trademarks, logos and service marks are property of Protective Life Insurance Company and are protected by copyright, trademark, and/or other proprietary rights and laws. The tax treatment of life insurance is subject to change. Neither Protective Life nor its representatives o昀昀er legal or tax advice. Please consult with your legal or tax advisor regarding your individual situation before making any tax-related decisions. All payments and all guarantees are subject to the claims-paying ability of Protective Life Insurance Company. ® Protective is a registered trademark and Lifetime Assurance is a trademark of Protective Life Insurance Company. PLC.1387386 (06.23)