PROTECTIVE VARIABLE ANNUITY SEPARATE ACCOUNT

Form Type: 497

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131131

Comments: This Supplement updates the Initial Summary Prospectus for the Protective Investors Benefit Advisory Variable Annuity contracts, amending details regarding the liquidation of certain funds within the protective variable annuity. The Board of Trustees for AIM Variable Insurance Funds has approved the liquidation of the Invesco V.I. Nasdaq 100 Buffer Funds, with liquidation anticipated on or about April 30, 2025. Following this date, these funds will no longer be available as Sub-Accounts. The liquidation prevents new investments after January 17, 2025, and existing investors can only invest until April 16, 2025. Any Contract Value in the affected Sub-Accounts on the Liquidation Date will be transferred to the Invesco V.I. U.S. Government Money Portfolio. The Supplement provides information on transfer rights among Sub-Accounts and reiterates the absence of transfer fees, encouraging investors to manage their allocations before the Liquidation Date.

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Form Type: 497

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131137

Comments: This document serves as a supplement dated December 23, 2024, to the Initial Summary Prospectus and other related documents for the Protective® Investors Benefit Advisory Variable Annuity contracts. It informs investors about the planned liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio, which is expected to occur around April 11, 2025. As a result, the associated Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account will also be liquidated. Contract owners can continue to purchase shares of the Fund until April 7, 2025, after which any allocations to this Sub-Account will be redirected to the Invesco® V.I. U.S. Government Money Portfolio. The Supplement also outlines transfer rights, stating that there are currently no transfer fees and no limits on the number of transfers that can be made in a calendar year. Overall, investors are advised to review the Supplement carefully and consider any necessary changes to their allocation instructions before the Liquidation Date.

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Form Type: 497VPI

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131133

Comments: The document serves as a supplement updating the initial summary prospectus related to Protective® Investors Benefit Advisory Variable Annuity contracts. It announces the approval by the Board of Trustees of AIM Variable Insurance Funds for the liquidation of four specific funds: Invesco® V.I. Nasdaq 100 Buffer Fund – September, Invesco® V.I. Nasdaq 100 Buffer Fund – December, Invesco® V.I. Nasdaq 100 Buffer Fund – March, and Invesco® V.I. Nasdaq 100 Buffer Fund – June. The anticipated liquidation date is April 30, 2025, after which the funds will no longer be available as sub-accounts under the contract. Existing investors can continue to invest until approximately April 16, 2025. Contract value allocated to these funds will automatically transfer to the Invesco® V.I. U.S. Government Money Portfolio at the time of liquidation. The document outlines transfer rights under the contract, indicating no fees or limits for transfers among available sub-accounts until the liquidation date, and post-liquidation transfer fee waivers for the Money Market Sub-Account. It emphasizes the importance of reviewing allocation instructions with financial representatives before the liquidation date.

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Form Type: 497VPI

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131138

Comments: This Supplement updates contract owners regarding the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio, which is anticipated to occur on or about April 11, 2025. On this Liquidation Date, the Sub-Account associated with this Fund will also be liquidated, and existing Contract Owners may continue to purchase shares until April 7, 2025. Any Contract Value allocated to this Sub-Account as of the Liquidation Date will be automatically transferred to the Invesco® V.I. U.S. Government Money Portfolio. Contract owners are informed of their transfer rights and options, including that there are currently no fees or limits on the number of transfers among Sub-Accounts within a calendar year. The document provides instructions on how to manage Contract Value allocations and emphasizes the importance of checking investment options available online.

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Form Type: 497VPU

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131135

Comments: Supplement dated December 23, 2024, to the Initial Summary Prospectus for Protective® Investors Benefit Advisory Variable Annuity contracts. The supplement amends information regarding the liquidation of the Invesco® V.I. Nasdaq 100 Buffer Funds approved by the Board of Trustees of AIM Variable Insurance Funds. The liquidation is set to occur on or about April 30, 2025, with new purchases ceasing on January 17, 2025, for the Funds. Existing investors can invest until April 16, 2025, after which no further purchases will be accepted. Contract Value allocated to the Funds at the time of liquidation will be automatically transferred to the Invesco® V.I. U.S. Government Money Portfolio. It details the process for existing investors and transfer rights, ensuring no transfer fees or limits on the number of transfers among Sub-Accounts. The document emphasizes the importance of contacting financial representatives for allocation guidance before the Liquidation Date.

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Form Type: 497VPU

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131140

Comments: This document serves as a Supplement to the Initial Summary Prospectus for Protective Investors Benefit Advisory Variable Annuity contracts and updates specific details regarding the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio. The Board of Trustees has approved a liquidation plan for this Fund, expected to occur around April 11, 2025, with the corresponding Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account also being liquidated. Contract Owners may continue purchasing shares until April 7, 2025, after which contract value will be automatically transferred to the Invesco V.I. U.S. Government Money Portfolio Sub-Account if allocated in the Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account as of the liquidation date. Transfer rights allow for reallocations among available Sub-Accounts without fees until the Liquidation Date, and no limits are imposed on transfers in a calendar year. The document encourages Contract Owners to consider their allocation strategies prior to the Liquidation Date and provides contact information for questioning or obtaining further documentation.

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