VARIABLE ANNUITY ACCOUNT A OF PROTECTIVE LIFE

Form Type: 497VPI

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131141

Comments: This document serves as a supplement to the Initial Summary Prospectus for the Protective® Investors Benefit Advisory Variable Annuity contracts, updating information regarding the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio. The Board of Trustees approved a plan to liquidate the Fund, with the liquidation expected to occur on or about April 11, 2025. Consequently, the Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account will also be liquidated. Existing Contract Owners may continue purchasing shares in the Fund until April 7, 2025. Post-liquidation, any Contract Value allocated to the Sub-Account as of 3:00 p.m. Central Time on the liquidation date will be transferred automatically to the Invesco® V.I. U.S. Government Money Portfolio. The document outlines the transfer rights available to Contract Owners, indicating no transfer fees will be imposed for transfers among available Sub-Accounts, maintaining flexibility for contract holders during this transition period. It also provides contact information for further inquiries regarding the contract and fund prospectuses.

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Form Type: 497VPU

Filing Date: 2024-12-23

Corporate Action: Liquidation

Type: Update

Accession Number: 000110465924131142

Comments: This Supplement provides an update regarding the liquidation of the Goldman Sachs Multi-Strategy Alternatives Portfolio, which was approved by the Board of Trustees of the Goldman Sachs Variable Insurance Trust. The liquidation is anticipated to occur on or about April 11, 2025. Following this date, the Fund will no longer be an available Sub-Account under the variable annuity contracts issued by Protective Life Insurance Company and Protective Life and Annuity Insurance Company. Existing Contract Owners can purchase shares of the Fund until April 7, 2025, after which any Contract Value allocated to the Goldman Sachs Multi-Strategy Alternatives Portfolio Sub-Account will be automatically transferred to the Invesco® V.I. U.S. Government Money Portfolio. Purchase Payments and Contract Values can no longer be allocated to the Sub-Account after 3:00 p.m. Central Time on April 7, 2025. The document emphasizes the rights of contract holders to transfer their Contract Value among available Sub-Accounts up until the Liquidation Date without incurring transfer fees or limits.

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