<HTML>


<BODY>
<P><FONT size=2>
<HR align=left width="100%" noShade SIZE=4>

<HR align=left width="100%" noShade SIZE=1>
</FONT>
<P></P>
<P align=center><FONT size=5><B>UNITED STATES<BR>SECURITIES AND EXCHANGE
COMMISSION<BR></B></FONT><FONT size=2><B>Washington, D.C. 20549 </B></FONT></P>
<P align=center><FONT size=5><B>FORM 8-K </B></FONT></P>
<P align=center><FONT size=3><B>CURRENT REPORT </B></FONT></P>
<P align=center><FONT size=3><B>Pursuant to Section&nbsp;13 or 15(d) of the
Securities Exchange Act of 1934 </B></FONT></P>
<P align=center><FONT size=2>Date of Report (Date of earliest event reported):
</FONT><FONT size=2><B>December&nbsp;15, 2004</B></FONT></P>
<P align=center><FONT size=5><B>Protective Life Secured Trust 2004-31<BR>(by
Protective Life Insurance Company as depositor)<BR></B></FONT><FONT
size=2>(Exact name of registrant as specified in its charter) </FONT></P><!-- User-specified TAGGED TABLE -->
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD align=middle width="32%"><FONT size=2><B>Delaware<BR></B></FONT><FONT
      size=2>(State or Other Jurisdiction<BR>of Incorporation)</FONT></TD>
    <TD width="3%"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=middle width="32%"><FONT
      size=2><B>333-100944-34<BR></B></FONT><FONT size=2>(Commission<BR>File
      Number)</FONT></TD>
    <TD width="3%"><FONT size=2>&nbsp;</FONT></TD>
    <TD align=middle width="32%"><FONT
      size=2><B>51-6555098<BR></B></FONT><FONT
      size=2>(I.R.S.&nbsp;Employer<BR>Identification&nbsp;No.)</FONT></TD></TR>
  <TR vAlign=bottom>
    <TD align=middle colSpan=5><FONT size=2><BR><BR></FONT><FONT
      size=2><B>Protective Life Secured Trust 2004-31<BR>c/o Protective Life
      Insurance Company<BR>2801 Highway 280 South<BR>Birmingham,
      Alabama<BR></B></FONT><FONT size=2>(Address of principal executive
      offices)<BR></FONT><FONT size=2><B>35223<BR></B></FONT><FONT size=2>(Zip
      Code)</FONT></TD></TR></TABLE><!-- end of user-specified TAGGED TABLE -->
<P align=center><FONT size=2>Registrant's telephone number, including area code:
</FONT><FONT size=2><B>(205)&nbsp;268-1000</B></FONT></P>
<P><FONT size=2>
<HR align=left width="100%" noShade SIZE=1>

<HR align=left width="100%" noShade SIZE=4>
</FONT>
<P></P>
<HR noShade>

<P style="PAGE-BREAK-BEFORE: always"></P>
<P><FONT size=2><BR></FONT><FONT size=2><B>Item 1.03 Bankruptcy or Receivership.
<BR></B></FONT></P>
<P><FONT size=2>Not applicable. </FONT></P>
<P><FONT size=2><BR></FONT><FONT size=2><B>Item 2.01 Completion of Acquisition or
Disposition of Assets. <BR></B></FONT></P>
<P><FONT size=2>Not applicable. </FONT></P>
<P><FONT size=2><BR></FONT><FONT size=2><B>Item 8.01 Other Events.
<BR></B></FONT></P>
<P><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
December&nbsp;15, 2004, an interest payment was made to the holders of the
6.15% Internotes&#174; due 2024 of Protective Life Secured
Trust 2004-31 (the "Trust"). Details of such payment are included in the
Administrative Report of the Trust filed as Exhibit&nbsp;99 hereto. No trustee
fees or other trust expenses have been paid by the Trust. </FONT></P>
<P><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No matters have
occurred since the formation of the Trust which would be reportable under Item 1
(Legal Proceedings), Item 2 (Changes in Securities, Use of Proceeds and Issuer
Purchases of Equity Securities), Item 4 (Submission of Matters to a Vote of
Security Holders), or Item 5 (Other Information) of Part&nbsp;II of the
Quarterly Report on Form&nbsp;10-Q, to the extent applicable to the Trust.
</FONT></P>
<P><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For information
relating to Protective Life Insurance Company ("PLIC"), please see PLIC's
(Commission file number 001-31901) periodic reports, including annual reports on
Form&nbsp;10-K, quarterly reports on Form&nbsp;10-Q and current reports on
Form&nbsp;8-K, and other information on file with the Securities and Exchange
Commission (the "SEC"). You can read and copy these reports and other
information at the public reference facilities maintained by the SEC at Room
1024, 450 Fifth Street, NW, Washington, D.C. 20549. You may obtain copies of
this material for a fee by writing to the SEC's Public Reference Section of the
SEC at 450 Fifth Street, NW, Washington, D.C. 20549. You may obtain information
about the operation of the Public Reference Room by calling the SEC at
1-800-SEC-0330. You can also access some of this information electronically by
means of the SEC's website on the Internet at http://www.sec.gov, which contains
reports and other information that PLIC has filed electronically with the SEC.
</FONT></P>
<P><FONT size=2><BR></FONT><FONT size=2><B>Item 9.01 Financial Statements and
Exhibits. <BR></B></FONT></P>
<P><FONT size=2>(c) Exhibits. </FONT></P>
<P><FONT size=2>Exhibit&nbsp;99&nbsp;&nbsp;&nbsp;&nbsp;Administrative Report of
the Trust. </FONT></P>
<P align=center><FONT size=2>2</FONT></P>
<HR noShade>

<P style="PAGE-BREAK-BEFORE: always"></P>
<P align=center><FONT size=2><BR></FONT><FONT size=2><B>SIGNATURES
<BR></B></FONT></P>
<P><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized. </FONT></P><!-- User-specified TAGGED TABLE -->
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0>

  <TR vAlign=top>
    <TD width="39%"><FONT size=2>&nbsp;</FONT></TD>
    <TD width="3%"><FONT size=2>&nbsp;</FONT></TD>
    <TD colSpan=2><FONT size=2>PROTECTIVE LIFE SECURED TRUST 2004-31 (BY
      PROTECTIVE LIFE INSURANCE COMPANY AS DEPOSITOR)</FONT></TD></TR>
  <TR vAlign=top>
    <TD width="39%"><FONT size=2><BR>Date: December 15, 2004</FONT></TD>
    <TD width="3%"><FONT size=2><BR>&nbsp;</FONT></TD>
    <TD width="4%"><FONT size=2><BR>By:</FONT></TD>
    <TD width="54%"><FONT size=2><BR>/s/&nbsp;&nbsp;</FONT><FONT size=2>JUDY
      WILSON</FONT><FONT size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>
      <HR noShade>
      <FONT size=2>Name: Judy Wilson<BR>Title: Senior Vice
  President</FONT></TD></TR></TABLE><!-- end of user-specified TAGGED TABLE -->
<P align=center><FONT size=2>3</FONT></P>
<HR noShade>

<P style="PAGE-BREAK-BEFORE: always"></P>
<P align=center><FONT size=2><BR></FONT><FONT size=2><B>EXHIBIT INDEX
<BR></B></FONT></P><!-- User-specified TAGGED TABLE -->
<TABLE cellSpacing=0 cellPadding=0 width="76%" border=0>

  <TR vAlign=bottom>
    <TH align=left width="16%"><FONT
size=1><B>EXHIBIT<BR>NUMBER<BR></B></FONT>
      <HR noShade>
    </TH>
    <TH width="3%"><FONT size=1>&nbsp;</FONT></TH>
    <TH align=left width="82%"><FONT size=1><B>DESCRIPTION<BR></B></FONT>
      <HR noShade>
    </TH></TR>
  <TR vAlign=top>
    <TD width="16%"><FONT size=2>Exhibit&nbsp;99</FONT></TD>
    <TD width="3%"><FONT size=2>&nbsp;</FONT></TD>
    <TD width="82%"><FONT size=2>Administrative Report of the
  Trust.</FONT></TD></TR></TABLE><!-- end of user-specified TAGGED TABLE -->
<P align=center><FONT size=2>4</FONT></P>
<HR noShade>

<P></P></BODY></HTML>
[{"type": "8-K", "sequence": "1", "filename": "pmt8k2004-31.htm", "secsgml_size_bytes": 7224}]
{"company-data": {"conformed-name": "Protective Life Secured Trust 2004-31", "cik": "0001293274", "assigned-sic": "6311", "irs-number": "516555098", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-100944-34", "film-number": "041210606"}, "business-address": {"street1": "C/O WILMINGTON TRUST CO", "street2": "1100 N. MARKET STREET", "city": "WILMINGTON", "state": "DE", "zip": "19890", "phone": "818-729-1900"}, "mail-address": {"street1": "C/O PROTECTIVE LIFE INSURANCE CO", "street2": "111 N. FIRST ST #209", "city": "BURBANK", "state": "CA", "zip": "91502"}}
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
December 15, 2004
Protective Life Secured Trust 2004-31
(by
Protective Life Insurance Company as depositor)
(Exact name of registrant as specified in its charter)
Delaware
(State or Other Jurisdiction
of Incorporation)
333-100944-34
(Commission
File
      Number)
51-6555098
(I.R.S. Employer
Identification No.)
Protective Life Secured Trust 2004-31
c/o Protective Life
      Insurance Company
2801 Highway 280 South
Birmingham,
      Alabama
(Address of principal executive
      offices)
35223
(Zip
      Code)
Registrant's telephone number, including area code:
(205) 268-1000
Item 1.03 Bankruptcy or Receivership.
Not applicable.
Item 2.01 Completion of Acquisition or
Disposition of Assets.
Not applicable.
Item 8.01 Other Events.
On
December 15, 2004, an interest payment was made to the holders of the
6.15% Internotes® due 2024 of Protective Life Secured
Trust 2004-31 (the "Trust"). Details of such payment are included in the
Administrative Report of the Trust filed as Exhibit 99 hereto. No trustee
fees or other trust expenses have been paid by the Trust.
No matters have
occurred since the formation of the Trust which would be reportable under Item 1
(Legal Proceedings), Item 2 (Changes in Securities, Use of Proceeds and Issuer
Purchases of Equity Securities), Item 4 (Submission of Matters to a Vote of
Security Holders), or Item 5 (Other Information) of Part II of the
Quarterly Report on Form 10-Q, to the extent applicable to the Trust.
For information
relating to Protective Life Insurance Company ("PLIC"), please see PLIC's
(Commission file number 001-31901) periodic reports, including annual reports on
Form 10-K, quarterly reports on Form 10-Q and current reports on
Form 8-K, and other information on file with the Securities and Exchange
Commission (the "SEC"). You can read and copy these reports and other
information at the public reference facilities maintained by the SEC at Room
1024, 450 Fifth Street, NW, Washington, D.C. 20549. You may obtain copies of
this material for a fee by writing to the SEC's Public Reference Section of the
SEC at 450 Fifth Street, NW, Washington, D.C. 20549. You may obtain information
about the operation of the Public Reference Room by calling the SEC at
1-800-SEC-0330. You can also access some of this information electronically by
means of the SEC's website on the Internet at http://www.sec.gov, which contains
reports and other information that PLIC has filed electronically with the SEC.
Item 9.01 Financial Statements and
Exhibits.
(c) Exhibits.
Exhibit 99    Administrative Report of
the Trust.
2
SIGNATURES
Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.
PROTECTIVE LIFE SECURED TRUST 2004-31 (BY
      PROTECTIVE LIFE INSURANCE COMPANY AS DEPOSITOR)
Date: December 15, 2004
By:
/s/
JUDY
      WILSON
Name: Judy Wilson
Title: Senior Vice
  President
3
EXHIBIT INDEX
EXHIBIT
NUMBER
DESCRIPTION
Exhibit 99
Administrative Report of the
  Trust.
4