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)           FEBRUARY 11, 1998



                           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)      Identification 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 February 11, 1998, Registrant issued a press release with respect to its
earnings which is included as an Exhibit to this Current Report and incorporated
by reference herein.


Item 7.   FINANCIAL STATEMENTS AND EXHIBITS

       (c)   EXHIBITS

              The following exhibit is included herein.

                    Exhibit 99: Press Release dated February 11, 1998.





                                   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:   February 11, 1998

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                                  Exhibit Index


EXHIBIT NUMBER             DESCRIPTION                            PAGE NUMBER

       99.                 Press Release Dated February 11, 1998       4-5

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EX-99

                                                                Exhibit 99


                                February 11, 1998


FOR IMMEDIATE RELEASE


                       PROTECTIVE ANNOUNCES 4Q97 EARNINGS


Protective Life  Corporation  (NYSE:PL)  announced fourth quarter results today.
The Company's  operating income,  which excludes  realized  investment gains and
losses and related amortization,  was $.94 per share in the 1997 fourth quarter,
a 21%  increase  over  the $.78  per  share  last  year in the  fourth  quarter.
Consolidated net income for the fourth quarter of 1997 was $29.2 million or $.94
per  share,  compared  to $24.6  million  or $.79 per share for the 1996  fourth
quarter.

The Company's 1997 operating income was a record $3.58 per share, a 23% increase
over the $2.90 per share reported for 1996.  Consolidated net income in 1997 was
$112.0 million or $3.59 per share,  compared to $89.0 million or $2.94 per share
last year.

Drayton Nabers, Jr.,  Protective's Chairman and CEO said: "1997 was an excellent
year for Protective.  We enjoyed solid earnings growth and strong sales momentum
in most of our core business units.  We are especially  pleased with the results
of our efforts to generate  more  earnings  growth from  internal  sources.  Our
outlook for 1998 is also positive. We are well positioned for growth".

At December 31, 1997,  the Company's  assets were $10.5  billion.  Stockholders'
equity per share was $22.60 (excluding $2.00 per share of unrealized  investment
gains resulting from marking the Company's securities to market values).

Operating return on average equity for 1997 was 17.1%.  (Average equity excludes
the effect of unrealized gains and losses on stockholders' equity.)

New accounting  rules require US companies to report basic and diluted  earnings
per share. All references to earnings per share in the preceding  paragraphs are
basic earnings per share. On a diluted basis,  the Company's net income was $.93
per share in the fourth  quarter of 1997,  compared to $.79 per share last year,
and  $3.56 per  share  for all of 1997,  compared  to $2.92 per share for all of
1996.

Protective Life Corporation  provides financial services through the production,
distribution and administration of insurance and investment  products throughout
the United States and Hong Kong.



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This release includes "forward-looking statements" which express expectations of
future events and/or  results.  Actual events and results may differ  materially
from  projections.  Please  refer to Exhibit  99 of the  Company's  most  recent
Form10-Q or the  Management's  Discussion and Analysis  section of the Company's
most recent Annual Report to  Stockholders  for more  information  about factors
which could affect future results.

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