Protective Life Insurance Company Endorsement Amending Right to Return and Market Value Adjustment
This endorsement amends an insurance contract issued by Protective Life Insurance Company. It clarifies that if the contract holder cancels within ten days of receiving the contract, the refund will be based on the account value at the time the written cancellation request is received, adjusted by a market value adjustment. The market value adjustment will use the Treasury Rate in effect on the date the cancellation request is received. The endorsement is effective as of the date signed by the company.
Exhibit 4(e)
PROTECTIVE LIFE INSURANCE COMPANY
P. O. BOX 2606
BIRMINGHAM, ALABAMA 35202
ENDORSEMENT
The Contract or Certificate to which this Endorsement is attached is amended as of its effective date, as follows:
If you cancel this Contract during the first ten days after you first receive it according to the “Right to Return” provision of the face page of the Contract, the amount we return to you will equal the Account Value on the date we receive your written cancellation request, adjusted by the Market Value Adjustment.
For the purpose of determining the Market Value Adjustment during the ten-day cancellation period, we will identify a Treasury Rate each day. The current Treasury Rate (“C” in the Market Value Adjustment formula on the Schedule of this Contract) will be the Treasury Rate identified on the date we receive your written cancellation request.
Signed for the Company as of the Effective Date.
PROTECTIVE LIFE INSURANCE COMPANY
| /s/ Deborah J. Long |
|
| Deborah J. Long |
|
| Secretary |
|
| IPD-2092V | 7/99 |
