Liquidation: Protective NY COLI VUL

Form Type: 497VPI

Filing Date: 2025-06-18

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465925060539

Filing Summary: This supplement, dated June 18, 2025, updates the Initial Summary Prospectus and Prospectus for Protective Executive Benefits Registered VUL NY policies. It announces the Board of Trustees' approval of the liquidation of the Victory RS Small Cap Growth Equity VIP Series Fund, scheduled for approximately August 28, 2025. This means the Fund will cease to be available as a Sub-Account under the Policy from this date. The Fund will close to new investors on June 9, 2025, though existing policy owners can purchase shares until August 22, 2025. Any Variable Account Value allocated to the Fund as of August 28 will be automatically transferred to the Fidelity VIP Government Money Market Portfolio. The document provides details regarding transfer rights and policies related to the liquidation, indicating that transfers to and from Sub-Accounts will incur no fees during this period. Contact information for further inquiries is also included.

Form Type: 497VPU

Filing Date: 2025-06-18

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465925060543

Filing Summary: This document serves as a supplement dated June 18, 2025, updating the Initial Summary Prospectus for Protective Executive Benefits Registered VUL policies. It specifically addresses the liquidation of the Victory RS Small Cap Growth Equity VIP Series (the 'Fund'), approved by the Board of Trustees of the Victory Variable Insurance Funds. The anticipated liquidation date is on or about August 28, 2025, after which the Fund will no longer be available as a Sub-Account under the Policy. The Fund was closed to new investors on June 9, 2025, but existing Policy Owners can purchase shares until August 22, 2025. Following the liquidation, any Variable Account Value allocated to the Victory RS Small Cap Growth Equity VIP Series Sub-Account as of the liquidation date will automatically be transferred to the Fidelity® VIP Government Money Market Portfolio. Specific instructions regarding allocation and transfer rights are provided, alongside contact information for further inquiries.