424B2 1 pricingsupp67.htm PRICING SUPPLEMENT 2008-17
Pricing Supplement No. 67 Dated: June 30, 2008 Filed pursuant to Rule 424(b)(2)
(To Prospectus Dated August 22, 2005, and
Prospectus Supplement dated August 22, 2005)
This Pricing Supplement consists of 3 pages.
File No. 333-126757
 
Protective Life Insurance Company
Sponsor and Depositor
InterNotes®
Issued Through
Protective Life Secured Trust 2008-17
 

 
1.     The Notes
Trade Date: 06/30/2008
Original Issue Date: 07/03/2008
Minimum Denominations/Increments: $1000/$1000
 

 
CUSIP PRINCIPAL
AMOUNT
PRICE
TO PUBLIC
CONCESSION NET
PROCEEDS
TO THE
TRUST
INTEREST
RATE
74367CFT7 $14,954,000 100% 0.6250% $14,860,537.50 5.000 %
 
INTEREST
PAYMENT
FREQUENCY
STATED
MATURITY
DATE
SURVIVOR'S
OPTION
REDEMPTION
YES/NO
REPAYMENT
YES/NO
SEMI-ANNUAL 07/15/2011 YES NO NO
 
SECURITIES EXCHANGE
LISTING
YES/NO
FUNDING
AGREEMENT NO.
NO GA-6137
 
Terms of Survivor's Option:
     Annual Put Limitation:   [X] $2,000,000 or 2%; or
    [   ] $__________________ or _______%
     Individual Put Limitation:   [X] $250,000; or
    [   ] $__________________
     Trust Put Limitation:   Not Applicable.
Optional Redemption Terms: Not Applicable.
     Optional Redemption Dates: 
     Initial Redemption Percentage: 
     Annual Percentage Reduction (if any): 
     Redemption:   [   ] In whole only and not in part
  [   ] May be in whole or in part
Optional Repayment Terms: Not Applicable.
     Optional Repayment Dates:
     Optional Repayment:   [   ] In whole only and not in part
  [   ] May be in whole or in part
Form of trust: [X] Delaware statutory trust [   ] Delaware common law trust
Trust Expiration Date: 07/15/2012
Special Tax Considerations: Not Applicable.
Rating of Notes: S&P AA   Moody's Aa3
Securities Exchange Listing: [X] No [   ] Yes, Name of Exchange:______________
Additional Terms: Not Applicable.
Agents:
Banc of America Securities LLC
Incapital LLC
Bear, Stearns & Co. Inc.
Charles Schwab & Co., Inc.
Citigroup
Edward D. Jones & Co., L.P.
Fidelity Capital Markets, A Division of National Financial Services LLC
Merrill Lynch & Co.
Morgan Stanley
Raymond James
RBC Dain Rauscher, Inc.
UBS Securities LLC
Wachovia Securities
 

 
2.     The Funding Agreement(s)
Funding Agreement Issuer: Protective Life Insurance Company
Deposit Amount: $14,954,015
Effective Date: 07/03/2008
Interest Rate: 5.000%
Interest Payment Frequency: SEMI-ANNUAL
Stated Maturity Date: 07/15/2011
Survivor's Option: [X] Yes [   ] No
     If yes:
          Annual Put Limitation:   [X] $2,000,000 or 2%; or
  [   ] $__________________ or _______%
          Individual Put Limitation:   [X] $250,000; or
    [   ] $__________________
          Trust Put Limitation:   Not Applicable.
Redemption: [   ] Yes [X] No
     Early Redemption Dates: 
     Initial Redemption Percentage: 
     Annual Percentage Reduction (if any): 
     Redemption:   [   ] In whole only and not in part
  [   ] May be in whole or in part
Repayment: [   ] Yes [X] No
     Repayment Dates:
     Repayment:   [   ] In whole only and not in part
  [   ] May be in whole or in part
Rating of Funding Agreement: S&P AA   Moody's Aa3
Additional Terms: Not Applicable.
 
3.     Other Information
 
Rating of Program:  S&P AA   Moody's Aa3
 
Protective Life Insurance Company Insurer Financial Strength Rating:  S&P AA   Moody's Aa3
 
Protective Securities, a division of ProEquities, Inc. and an affiliate of Protective Life Insurance Company, is acting as an agent in connection with this offering.