ANNUAL NOTICE

May 1, 2024

This Annual Notice for the individual variable universal life insurance policies (collectively the “Policy”) issued by Protective Life Insurance Company, provides certain updated information about your Policy since May 1, 2023. In addition, this Annual Notice provides key information about your Policy that you should review, including a current list of Funds available under your Policy. Please read this Annual Notice carefully and retain it with your Policy prospectus for future reference.

The most recent prospectus for the Policy, dated May 1, 2019, (the “Prospectus”) and supplements to the Prospectus contain more information about the Policy’s features, benefits, and risks. You can find updated financial statements for Protective Variable Life Separate Account and for Protective Life Insurance Company, prospectuses for the Funds listed in the appendix, and other information about the Policy online at www.protective.com/productprospectus. You can also obtain this information at no cost by calling (800) 265-1545 or by sending an email request to prospectus@protective.com.

Additional general information about certain investment products, including variable life insurance, has been prepared by the U.S. Securities and Exchange Commission’s (“SEC”) staff and is available at Investor.gov.

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

Registration No. 333-45963

TABLE OF CONTENTS

​	SPECIAL TERMS	​	​	3	​
​	UPDATED INFORMATION ABOUT YOUR POLICY	​	​	5	​
​	IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY	​	​	6	​

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FUND APPENDIX — FUNDS AVAILABLE UNDER THE POLICY

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FUND-1

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SPECIAL TERMS

“We”, “us”, “our”, “Protective Life”, and “Company”  Refer to Protective Life Insurance Company. “You” and “your” refer to the person(s) who have been issued a Policy.

Annual Withdrawal Amount The annual amount you may withdraw during a Policy Year, and not incur a surrender charge or premium tax recovery charge.

Attained Age The Insured’s age as of the nearest birthday on the Policy Effective Date, plus the number of complete Policy Years since the Policy Effective Date.

Cancellation Period Period shown in the Policy during which the Owner may exercise the cancellation privilege and return the Policy for a refund.

Cash Value Policy Value minus any applicable surrender charge and premium tax recovery charge.

DCA Fixed Account Part of the Protective’s General Account. Only initial premium payments may be allocated to this account, which is available only in connection with dollar cost averaging. No transfers may be made to the DCA Fixed Account from other allocation options.

Death Benefit The amount of insurance provided under the Policy used to determine the Death Benefit Proceeds.

Death Benefit Proceeds The amount payable to the Beneficiary if the Insured dies while the Policy is in force. It is equal to the Death Benefit plus any death benefit under any rider to the Policy less (1) any Policy Debt (2) any liens for payments made under an accelerated death benefit rider and (3) less any unpaid Monthly Deductions if the Insured dies during a grace period.

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.

Face Amount A dollar amount selected by the Owner and shown in the Policy on the Policy Specifications Page or Supplemental Policy Specifications Page.

Fixed Account Part of Protective Life’s General Account to or from which Policy Value may be transferred and into which Net Premiums may be allocated under a Policy.

Fixed Account Value The Policy Value in the Fixed Account.

Fund A separate investment portfolio of an open-end management investment company or unit investment trust in which a Sub-Account invests.

Good Order (“good order”) A request or transaction generally is considered in “Good Order” if we receive it at our Administrative Office within the time limits, if any, we prescribe 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 requested 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 affect the instruction or transaction. This information and documentation generally includes, to the extent applicable: the completed application or instruction form; evidence of insurability; your policy number; the transaction amount (in dollars or percentage terms); the names and allocations to and/or from the Funds affected by the requested transaction; the signatures of the Policy Owner (exactly as indicated on the Policy), if necessary; Social Security Number or Tax I.D.; and any other information or supporting documentation that we may require, including any consents. With respect to premium payments, Good Order also generally includes receipt by one of us of sufficient funds to affect 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 questions, you should contact us or your financial advisor before submitting the form or request.

Guaranteed Account The Fixed Account, the DCA Fixed Account and any other account that the Company may offer with interest rate guarantees.

Guaranteed Account Value The Policy Value in the Fixed Account and the DCA Fixed Account.

Home Office 2801 Highway 280 South, Birmingham, Alabama 35223.

Initial Face Amount The Face Amount on the Policy Effective Date.

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Initial Premium The initial premium payment made by the Owner equal to 100% of the Internal Revenue Code Section 7702 Guideline Single Premium for the Face Amount given the Insured’s age, sex and underwriting class.

Insured The person whose life is covered by the Policy.

Issue Age The Insured’s age as of the nearest birthday on the Policy Effective Date.

Issue Date The date the Policy is issued.

Lapse Termination of the Policy at the expiration of the grace period while the Insured is still living.

Loan Account An account within Protective Life’s general account to which Guaranteed Account Value and/or Variable Account Value is transferred as collateral for Policy loans.

Monthly Anniversary Day The same day in each month as the Policy Effective Date.

Monthly Deduction The fees and charges deducted monthly from the Fixed Account Value and/or Variable Account Value as described on the Policy Specifications Page of the Policy.

Net Amount at Risk The Net Amount at Risk as of any Monthly Anniversary Day is (a) minus (b) where: (a) is the Death Benefit discounted at one plus the monthly guaranteed interest rate; and (b) is the Policy Value (prior to deducting the Cost of Insurance).

Policy Anniversary The same day and month in each Policy Year as the Policy Effective Date.

Policy Debt The sum of all outstanding policy loans plus accrued interest.

Policy Effective Date The date shown in the Policy as of which coverage under the Policy begins.

Policy Value The sum of the Variable Account Value, the Guaranteed Account Value, and the Loan Account Value.

Policy Year Each period of twelve months commencing with the Policy Effective Date and each Policy Anniversary thereafter.

Preferred Loan That portion of the Loan Account up to the amount by which Surrender Value exceeds total premium payments made.

Sub-Account A separate division of the Variable Account established to invest in a particular Fund.

Sub-Account Value The Policy Value in a Sub-Account.

Surrender Value The Cash Value minus any outstanding Policy Debt and any liens for payments made under an accelerated death benefit rider or endorsement.

Valuation Day Each day the New York Stock Exchange and the Home Office are open for business except for a day that a Sub-Account’s corresponding Fund does not value its shares.

Valuation Period The period commencing with the close of regular trading on the New York Stock Exchange on any Valuation Day and ending at the close of regular trading on the New York Stock Exchange on the next succeeding Valuation Day.

Variable Account Protective Variable Life Separate Account, a separate investment account of Protective Life to and from which Policy Value may be transferred and into which Net Premiums may be allocated.

Variable Account Value The sum of all Sub-Account Values.

Written Notice A notice or request submitted in writing in a form satisfactory to Protective Life and received at the Home Office via U.S. postal service or nationally recognized overnight delivery service.

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UPDATED INFORMATION ABOUT YOUR POLICY

The information in this section of the Annual Notice is a summary of certain Policy features that have changed since May 1, 2023. This may not reflect all of the changes that have occurred since you entered into your Policy.

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For updated performance and fee information please see the FUND APPENDIX.

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5

IMPORTANT INFORMATION YOU SHOULD CONSIDER ABOUT THE POLICY

(1)

As a percentage of Fund assets.

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For additional information about ongoing fees and expenses, see “CHARGES AND DEDUCTIONS” in the Prospectus.

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FUND APPENDIX

FUNDS AVAILABLE UNDER THE POLICY

The following is a list of Funds available under the Policy. 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 1-800-265-1545 or by sending an email request to prospectus@protective.com.

The current expenses and performance information below reflects fees and expenses of the Funds, but do not reflect the other fees and expenses that your Policy 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.

FUND-1

FUND-2

FUND-3

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(1)

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.

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(2)

Available on Policies with an application signed before May 1, 2008.

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(3)

Available on Policies with an application signed before May 1, 2012.

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(4)

Available on Policies with an application signed before November 2, 2009.

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(5)

Available on Policies with an application signed before May 1, 2012.

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(6)

This fund is not available for Policies with applications signed on or after May 1, 2015.

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(7)

Closed to new and existing investors effective May 1, 2002.

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FUND-4

Please retain this this Annual Notice for future reference. The last Prospectus and Statement of Additional Information (“SAI”) for this Policy, dated May 1, 2019, contains more information about the Policy. The SAI may be obtained, free of charge, in the same manner as the Prospectus.

EDGAR Contract Identifier: C000028802 C000072645 C000028803