Protective Life and West Coast Life Introduce a New Series of Universal Life Products

Business Editors

BIRMINGHAM, Ala.--(BUSINESS WIRE)--July 21, 2008--Protective Life Insurance Company (NYSE:PL) and West Coast Life Insurance Company announced the release of a new series of universal life policies, the Protective Centennial G II Universal LifeSM Series and the West Coast LifeTime Platinum III Universal Life Series.

The Protective Centennial G II Universal LifeSM Seriesand the West Coast LifeTime Platinum III Universal Life Series products continue to build on our experience and expertise as issuers of competitive and innovative permanent life insurance products. Both the Protective Centennial G II UL Series and West Coast LifeTime Platinum III UL Series provide flexible lapse protection options, including guaranteed death benefit coverage that may last the lifetime of the insured. The premiums will vary according to the issue age, gender, face amount, length of lapse protection, and underwriting class (health status) of the proposed insured. Policy loans, partial surrenders, policy changes, or delinquent premiums may affect the length of the lapse protection and may cause the purchaser to lose the lapse protection.

Each UL Series offers a new and uniqueproduct, the Protective Centennial G II PLUS UL and the West Coast LifeTime Platinum Plus UL, each providing the same flexible lapse protection guarantee, but for slightly more premium the policies have an added bonus—greater cash value accumulation. The lapse protection does not apply to policy values.

“Unlike many guaranteed death benefit universal life products, the Centennial G II PLUS and LifeTime Platinum Plus give clients the ability to accumulate attractive cash values that can be used to meet a variety of future financial needs,” said John Deremo, Senior Vice President and Chief Distribution Officer of Protective Life Insurance Company’s and West Coast Life Insurance Company’s Life and Annuity Division. “Combined with the enhanced Centennial G II UL and LifeTime Platinum UL rates, these two UL Series offer our producers and brokers some of the most competitive secondary guarantee universal life products in the industry.”

The Centennial G II UL and Lifetime Platinum UL products are designed for clients who are looking for guaranteed lifetime death benefit protection at a lower premium cost. Whether the need is for affordable family income replacement, estate planning, or business insurance applications, the Protective Centennial G II UL Series and the West Coast LifeTime Platinum UL Series can play an important role.

Drawing on over 200 years of combined service, Protective Life and West Coast Life each deliver a competitive line-up of innovative, consumer-friendly life and annuity products, backed by a wide array of high-value sales tools, and dedicated marketing support. Both companies remain committed to providing quality service and being a company that is easy to do business with – making both companies the choice for top financial advisors, life insurance agents, brokers and their clients.

Protective Centennial G II UL and Protective Centennial G II PLUS UL, policy form UL-15 and state variations thereof, are flexible premium universal life insurance policies issued by Protective Life Insurance Company, 2801 Highway 280 South, Birmingham, AL 35223. Product features and availability may vary by state. Consult policies for benefits, riders, limitations, and exclusions. The policies are subject to underwriting and a two-year contestable and suicide period. Benefits adjusted for misstatements of age or gender. All payments and all guarantees are subject to the claims paying ability of Protective Life Insurance Company.

West Coast LifeTime Platinum III and West Coast LifeTime Platinum III Plus, policy form #WC-U15 11-06 and state variations thereof, are flexible premium universal life insurance policies issued by West Coast Life Insurance Company (San Francisco, CA). Product features and availability may vary by state. Consult policies for benefits, riders, limitations, and exclusions. Subject to underwriting. Two-year contestable and suicide period. Benefits adjusted for misstatements of age or gender. All payments and all guarantees are subject to the claims paying ability of West Coast Life Insurance Company.

About Protective Life and West Coast Life Insurance Companies

Protective Life Corporation was established on a profound belief in the American dream: provide quality products with excellent service and success will follow. This unwavering commitment to treating people the way we would like to be treated has been rewarded with stable, long-term relationships and growth.

Today, our employees nationwide are dedicated every day to proving the wisdom of our collective vision: Doing the right thing is smart business.® Protective Life Corporation offers a broad portfolio of life and specialty insurance and investment products through its insurance company subsidiaries, Protective Life Insurance Company and West Coast Life Insurance Company.