BIRMINGHAM, AL - July 14, 2006

Millions of American baby boomers are approaching retirement, many with potentially disastrous deficiencies in both their levels of life insurance protection and retirement savings. To help address their needs, Protective Life Insurance Company today released Defined Objectives(SM), a groundbreaking new service designed to help prepare for long-term financial needs using variable universal life (VUL) insurance. This innovative program simplifies the process of tracking policy performance, regularly assessing the performance against expectations, and making appropriate adjustments to stay on track to meet long-term objectives.

"We're delighted to offer Defined Objectives to our variable universal life customers," said John Deremo, Senior Vice President of Protective's Institutional Distribution Group. "Many financial advisors and consumers already recognize variable universal life insurance as an attractive and unique planning solution. With a value-added service like Defined Objectives, VUL will appeal to even more consumers looking for death benefit protection and a long-term opportunity to use policy values as a supplement to retirement income."

Variable universal life insurance is a powerful financial tool that blends insurance protection, flexibility, and investment options. It is a flexible, permanent life insurance product that delivers essential death benefit protection and provides the long-term potential for tax-deferred accumulation of cash values. Accessing those policy values through withdrawals and loans may provide a tax-advantaged stream of payments to supplement other sources of retirement income.

Because variable universal life insurance involves the risk of investing in equity securities (including market risk and the possible loss of principal), it's critical that policyholders review their policy performance with their financial advisors periodically to ensure that they are on track to meet their long-term goals. Defined Objectives simplifies that process.

The Defined Objectives process starts with an advisor helping clients determine how VUL insurance might fit in their financial plans. Together, they identify appropriate levels of death benefit coverage and premium funding, as well as long-term targets for cash value accumulation and future distributions from the policy. These defined objectives include the amount of money the consumer would like to receive in the future (by accessing policy values through withdrawals and loans), as well as the intended duration and frequency of those distributions.

With Protective's proprietary VUL illustration software, the advisor is able to illustrate a wide variety of hypothetical investment return scenarios and how they may impact the policy's long-term development of cash values and payment streams. A special Defined Objectives enrollment form is submitted with the policy application to document the client's defined objectives, policy structure, and targeted investment returns.

Each year, the advisor and client will automatically receive a Defined Objectives review kit, including a Defined Objectives Performance Analysis and a full set of in-force policy illustrations. Using these tools, they can compare the policy's performance against original expectations and goals. The Performance Analysis provides a concise annual summary of current policy values, performance to date, and progress toward meeting the client's original defined objectives. It also includes suggestions for adjustments that may be considered to help keep the policy on track in the long run. These may include changes to premium funding levels, benefit amounts, or the defined objectives payment stream.

"We continually strive to deliver outstanding value to our customers, both in (our) products and in our ongoing service and support", said Deremo. "With Defined Objectives, we're on the cutting edge of VUL value-added programs which reflects our commitment of being easy to do business with, while providing innovative solutions and enhanced financial assurance to our customers."

About Protective

Protective Life Insurance Company was established on a profound belief in the American dream. Since 1907, Protective Life Insurance Company has remained true to its core beliefs: quality, serving people, and growth. This unwavering commitment to treating people the way we would like to be treated has been rewarded with stable, long-term relationships, and growth. Today, Protective Life is one of the nation's leading insurance companies, proving the wisdom of our Company's vision: Doing the right thing is smart business(R).

Variable universal life insurance involves the risk of investing in equity securities including market risk and possible loss of principal. If investment performance is poorer than expected or if sufficient premiums are not paid, the policy may not be suitable for its intended purpose or may lapse.

Death benefits are subject to the claims-paying ability of Protective Life Insurance Company.

The tax treatment of life insurance is subject to change. Neither Protective Life nor its representatives offer legal or tax advice. Investors should consult their attorney or tax advisor regarding their individual situations.

Variable universal life insurance policies are issued by Protective Life Insurance Company (PLICO). Securities are offered by Investment Distributors, Inc. (IDI). Both are subsidiaries of Protective Life Corporation and are located at 2801 Highway 280 South, Birmingham, Alabama 35223. Protective Life Corporation is a separate company and is not responsible for the financial condition or contractual obligations of PLICO.

Protective Premiere II is a variable universal life policy. Product features and availability may vary by state. For more information about Premiere II (VUL-06) and PLICO, including all charges and expenses, please read the prospectus. Investors should read the prospectus carefully before they can invest or send money. A prospectus may be obtained by contacting PLICO. This policy has limitations.

Protective Life Insurance Company is not licensed to do business in New York.

CONTACT:

Protective Life Corporation
Marketing
Eric Miller
205-268-3029
eric.miller@protective.com

or

Investor Relations
Chip Wann
205-268-6461
chip.wann@protective.com