8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D. C. 20549


                                    FORM 8-K


                                 CURRENT REPORT



Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported)             October 7, 1996



                           Protective Life Corporation
             (Exact name of registrant as specified in its charter)


     Delaware                      1-12332                     95-2492236
(State or other jurisdiction     (Commission                (IRS Employer
   of incorporation)               File Number)             dentification No.)

                2801 Highway 280 South, Birmingham, Alabama       35223
                  (Address of principal executive offices)      (Zip Code)


        Registrant's telephone number, including area code (205) 879-9230


                                       N/A
         (Former name or former address, if changed since last report.)


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Item 5.  Other Events

     On October 7,  1996,  Registrant  issued a press  release  announcing it 
will make voluntary  refunds to certain of its cancer insurance
policyholders  and will reduce premium rates charged to such policyholders.


Item 7.  Financial Statements and Exhibits

     (c).    Exhibits

             The following exhibit is included herein:

                  Exhibit 99:  Press Release dated October 7, 1996



                                   SIGNATURES


     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 thereunto duly authorized.


                                        PROTECTIVE LIFE CORPORATION


                                        BY/s/Jerry W. DeFoor
                                             Jerry W. DeFoor
                                             Vice President and Controller

Dated:    October 7, 1996

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                                 Exhibit Index


Exhibit Number                 Description                   Page Number


     99            Press Release Dated October 7, 1996            4



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EX-99

                                                               Exhibit 99


October 7, 1996


For Immediate Release


                  PROTECTIVE ANNOUNCES REFUND TO POLICYHOLDERS


Birmingham,  Alabama: Protective Life Corporation (PL:NYSE) announced today that
Protective Life Insurance  Company will make voluntary refunds to certain of its
cancer  insurance  policyholders  and will reduce  premium rates charged to such
policyholders.

Cancer sales brochures  distributed by the Company to its sales force nationwide
from 1989  through  1991  stated  that  premium  rates can be raised  only after
approval by the policyholder's  state insurance  department.  That statement was
correct in most  states in which the  brochures  were used.  However,  in twelve
states in which the  brochures  were used,  rate  increases  were filed with the
state insurance departments, but no approval was required for the rate increases
to become effective.  The Company is notifying  affected  policyholders and will
make refunds and rate roll backs where appropriate.

John D. Johns,  Protective's  President and Chief Operating Officer,  commented:
"The advertising material in question was last distributed to our sales force in
1991  and did not  show  up in  recent  compliance  audits  we have  made of our
advertising  materials.  We believe  that our cancer  rates are  reasonable  and
consistent  with our policy forms and were  increased in  compliance  with state
rate-setting regulations. We apologize to our policyholders for this mistake. We
sincerely regret this and we will correct the error."


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