Edgar Filing: LONG DEBORAH J

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:

3235-0287

Expires:

January 31, 2005

Estimated average burden hours per response...

0.5

(Print or Type Responses)

1. Name and Address of Reporting Person ^*

LONG DEBORAH J

2. Issuer Name and Ticker or Trading Symbol
PROTECTIVE LIFE CORP [PL]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Sr. VP

(Last)

(First)

(Middle)

2801 HIGHWAY 280 SOUTH

3. Date of Earliest Transaction (Month/Day/Year)
03/05/2007

(Street)

BIRMINGHAM, AL 35223

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/05/2007		A		3,000	A	$ 0	6,541	D
Common Stock								3,402.7739	I	By 401(k) ⁽¹⁾
Common Stock								49,537.4542	I	Deferred Compensation ⁽²⁾

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

SAR 11 ⁽³⁾

$ 43.46

03/05/2007

1,850

03/05/2008

03/05/2017

SAR

1,850

$ 0

1,850

SAR 11a ⁽³⁾

$ 43.46

03/05/2007

1,850

03/05/2009

03/05/2017

SAR

1,850

$ 0

1,850

SAR 11b ⁽³⁾

$ 43.46

03/05/2007

1,850

03/05/2010

03/05/2017

SAR

1,850

$ 0

1,850

SAR 11c ⁽³⁾

$ 43.46

03/05/2007

1,850

03/05/2011

03/05/2017

SAR

1,850

$ 0

1,850

SAR 06 ⁽⁴⁾

$ 41.05

03/04/2006

03/04/2015

SAR

700

SAR 06 a ⁽⁴⁾

$ 41.05

03/04/2007

03/04/2015

SAR

700

SAR 06 b ⁽⁴⁾

$ 41.05

03/04/2008

03/04/2015

SAR

700

SAR 06 c ⁽⁴⁾

$ 41.05

03/04/2009

03/04/2015

SAR

700

SAR 3 3 06 ⁽⁵⁾

$ 48.6

03/03/2007

03/03/2016

SAR

750

SAR 3 3 06 a ⁽⁵⁾

$ 48.6

03/03/2008

03/03/2016

SAR

750

SAR 3 3 06 b ⁽⁵⁾

$ 48.6

03/03/2009

03/03/2016

SAR

750

SAR 3 3 06 c ⁽⁵⁾

$ 48.6

03/03/2010

03/03/2016

SAR

750

SAR 4 ⁽⁵⁾

$ 32

03/04/2007

03/04/2012

SAR

15,000

SAR 6 ⁽⁵⁾

$ 22.31

07/21/2004

03/06/2010

SAR

17,962

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
LONG DEBORAH J 2801 HIGHWAY 280 SOUTH BIRMINGHAM, AL 35223			Sr. VP

Signatures

By: by Harriette Hyche Attorney-in-Fact for		03/08/2007
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Total Shares held by reporting person in PLC's 401(k) & Stock Ownership Plan as of 3/1/07.
(2)	Shares acquired through PLC Def. Comp. Plan for Officers of the Corporation (exempt under Rule 16b-3).Total amount in Col. 5 includes dividend shares acquired under the PLC Def. Comp. Plan for Officers exempt under Rule 16-a 11.
(3)	Stock Appreciation Right awarded under the Protective Life Corporation Long-Term Incentive Plan in transaction exempt under Rule 16b-3 becoming exercisable in equal installments over four years beginning 3/5/08.
(4)	Previously reported Stock Appreciation Right (SAR) shown in 4 equal installments.
(5)	Previously reported Stock Appreciation Right (SAR).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.