Item 3. Sales of Securities and Use of Proceeds.

On November 24, 2003, a beneficial interest in the Trust (the "Trust Beneficial Interest") was sold to AMACAR Pacific Corp. for $15 in an offering exempt from registration pursuant to §4(2) of the Securities Act of 1933, as amended (the "Securities Act").

The Registration Statement on Form S-3, Commission File No. 333-100944 (the "Registration Statement") relating to the Notes was declared effective by the Securities and Exchange Commission on November 12, 2003.

The information specified under "Use of Proceeds" required to be included in this Item 3 by Item 701(f) of Regulation S-K is included in the Administrative Report attached to this Form 10-D as Exhibit 99.1 and is incoporated into this Item 3 by reference.

The Trust used the net proceeds from the issuance of the Notes and the Trust Beneficial Interest to purchase a funding agreement from Protective Life Insurance Company ("PLIC"), as described in the Registration Statement.

The Trust's assets consist of a funding agreement issued by PLIC. For information relating to PLIC, please see PLIC's (Commission file number 001-31901) periodic reports, including annual reports on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, and other information on file with the Securities and Exchange Commission (the "SEC"). You can read and copy these reports and other information at the public reference facilities maintained by the SEC at 100 F Street, N.E., Washington, D.C. 20549. You may obtain copies of this material for a fee by writing to the SEC's Public Reference Section of the SEC at 100 F Street, N.E., Washington, D.C. 20549. You may obtain information about the operation of the Public Reference Room by calling the SEC at 1-800-SEC-0330. You can also access some of this information electronically by means of the SEC's website on the Internet at http://www.sec.gov, which contains reports and other information that PLIC has filed electronically with the SEC.

This Form 10-D incorporates by reference PLIC's Annual Report on Form 10-K for the year ended December 31, 2007 and Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2008.

Exhibit 1.1		Standard Selling Agent Agreement Terms, dated November 7, 2003 (incorporated by reference to Exhibit 1.1 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).
Exhibit 1.2		Selling Agent Agreement relating to the Notes (incorporated by reference to Section F to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).
Exhibit 3.1		Certificate of Trust of the Trust (incorporated by reference to Exhbiit 3.1 to Protective Life Secured Trust 2003-1's From 10-D filed on November 27, 2006.)
Exhibit 3.2		Statutory Trust Agreement Terms, dated November 7, 2003 (incorporated by reference to Exhibit 4.7 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).
Exhibit 3.3		Statutory Trust Agreement relating to the Trust (incorporated by reference to Section A-1 to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).
Exhibit 4.1		Standard Indenture Terms, dated November 7, 2003 (incorporated by reference to Exhibit 4.1 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).
Exhibit 4.2		Indenture relating to the Notes (incorporated by reference to Section E to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).
Exhibit 4.3		Note issued by the Trust (incorporated by reference to Exhibit 4.3 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).
Exhibit 4.4		Funding Agreement issued by PLIC to the Trust (incorporated by reference to Exhibit 4.4 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).
Exhibit 4.5		Standard Administrative Services Terms, dated November 7, 2003 (incorporated by reference to Exhibit 4.12 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).
Exhibit 4.6		Administrative Services Agreement relating to the Trust (incorporated by reference to Section B to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).
Exhibit 4.7		Omnibus Instrument relating to the Notes (incorporated by reference to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).
Exhibit 99		Administrative Report of the Trust.

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

EXHIBIT
NUMBER

DESCRIPTION

Exhibit 1.1

Standard Selling Agent Agreement Terms, dated November 7, 2003 (incorporated by reference to Exhibit 1.1 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).

Exhibit 1.2

Selling Agent Agreement relating to the Notes (incorporated by reference to Section F to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).

Exhibit 3.1

Certificate of Trust of the Trust (incorporated by reference to Exhbiit 3.1 to Protective Life Secured Trust 2003-1's From 10-D filed on November 27, 2006.)

Exhibit 3.2

Statutory Trust Agreement Terms, dated November 7, 2003 (incorporated by reference to Exhibit 4.7 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).

Exhibit 3.3

Statutory Trust Agreement relating to the Trust (incorporated by reference to Section A-1 to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).

Exhibit 4.1

Standard Indenture Terms, dated November 7, 2003 (incorporated by reference to Exhibit 4.1 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).

Exhibit 4.2

Indenture relating to the Notes (incorporated by reference to Section E to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).

Exhibit 4.3

Note issued by the Trust (incorporated by reference to Exhibit 4.3 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).

Exhibit 4.4

Funding Agreement issued by PLIC to the Trust (incorporated by reference to Exhibit 4.4 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).

Exhibit 4.5

Standard Administrative Services Terms, dated November 7, 2003 (incorporated by reference to Exhibit 4.12 to PLIC's Registration Statement on Form S-3 (Registration No. 333-100944)).

Exhibit 4.6

Administrative Services Agreement relating to the Trust (incorporated by reference to Section B to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).

Exhibit 4.7

Omnibus Instrument relating to the Notes (incorporated by reference to Exhibit 4.7 to Protective Life Secured Trust 2003-1's Form 10-D filed on November 27, 2006).

Exhibit 99

Administrative Report of the Trust.


				Name of Exchange
Title of class	Section 12(b)	Section 12(g)	Section 15(d)	(If Section 12(b))

Secured Notes	þ	o	o	New York Stock Exchange

		PROTECTIVE LIFE SECURED TRUST 2003-1 (BY PROTECTIVE LIFE INSURANCE COMPANY AS DEPOSITOR)
Date: May 27, 2008		By:	/s/ JUDY WILSON Name: Judy Wilson Title: Senior Vice President

Delaware (State or Other Jurisdiction of Incorporation of the issuing entity)		51-6550702 (I.R.S. Employer Identification No.)
Protective Life Secured Trust 2003-1 c/o Protective Life Insurance Company 2801 Highway 280 South Birmingham, Alabama 35223 (Address of principal executive offices of the issuing entity)(Zip Code)