Form 4 - Susan Molinari
FORM 4

STATEMENT OF
CHANGES IN BENEFICIAL OWNERSHIP

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

1. Name and Address of Reporting Person*
(Last)Molinari
(First)Susan
(Middle) 
(Street)2801 Highway 280 South
(City)Birmingham
(State)Alabama
(Zip)35223

2. Issuer Name and Ticker or Trading Symbol
(Issuer Name)Protective Life Corporation
(Ticker or Trading Symbol)PL

3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
(I.D. Number) 

4. Statement for Month/Day/Year
(Month/Day)January 8
(Year)2003

5. If Amendment, Date of Original (Month/Day/Year)
(Month/Day) 
(Year) 

6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
    X
X(Director)
 (Officer, give title below)
  
 (10% Owner)
 (Other, specify below)
  

7. Individual or Joint/Group Filing (Check Applicable Line)
    X
XForm filed by One Reporting Person
 Form filed by More than One Reporting Person

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
Transactions(s)
(Instr. 3 and 4)		 6. Ownership
Form: Direct
(D) or
Indirect (I)
(Instr. 4)		 7. Nature of
Indirect
Beneficial
Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock01/08/03 A 134.0766 A28.34202,419.3928IDef. Comp. 1
            
1. Shares acquired through PLC Def.            
Comp. Plan for Directors who are not           
officers of the corporation          
exempt under Rule 16b-3.          
           

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)
Code V (A) (D) Date
Exercisable		 Expiration
Date
          
          
          
          
          
          
          
          
          
          

Table II Continued - Derivative Securities Acquired, Disposed of or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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 Deriv-
ative Securities:
Direct (D) or
Indirect (I)
(Instr. 4)		 11. Nature of
Indirect Beneficial
Ownership (Instr. 4)
Title Amount or
Number of
Shares
      
      
      
      
      
      
      
      
      
      

Explanation of Responses:



/s/       SUSAN MOLINARI         JANUARY 9, 2003
**Signature of Reporting PersonDate
BY: Nancy Kane 
Attorney-in-Fact 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

*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.).

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