- National Life Insurance Company
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National Life Insurance Company was chartered on November 13, 1848 “upon the principle of mutual participation in the funds or profits” of the company. As such, the National Life of Vermont was a mutual company even though that fact was not apparent from its name. The company officially issued its first policy and began business on February 1, 1850. Its name bespoke the fact that its organizers were from many different states and believed company life insurance policies would be sold throughout the nation.
Julius Yemans Dewey, medical doctor of Montpelier, Vermont, was among the company's founders. He would later serve as general agent and then president of the company[1] and delivered the remittance of the company's very first claim on July 26, 1850.[2]
On January 1, 1999, pursuant to a mutual insurance holding company reorganization, National Life converted from a mutual to a stock life insurance company. All of National Life’s outstanding shares are now owned by its parent, NLV Financial Corporation, which is the wholly owned subsidiary of the parent holding company, National Life Holding Company. The holding company and its subsidiaries are collectively known as the National Life Group and its headquarters are in Montpelier, Vermont.
References
- ^ Gilman, Marcus Davis (1897). The Bibliography of Vermont; or, A List of Books and Pamphlets Relating in Any Way to the State: With Biographical and Other Notes. Burlington, Vermont: Printed by the Free Press Association. p. 138. OCLC 4072330. http://books.google.com/?id=T1I0AAAAMAAJ&printsec=titlepage#PPA138,M1
- ^ "National Life's First Claims: Claim #1". http://www.nationallife.com/public/histarchive/our_history/pages/first_claims_1.asp. Retrieved 2008-07-14. (Archived by the Internet Archive here)
External links
Categories:- Companies established in 1848
- Insurance companies of the United States
- Life insurance companies
- Mutual insurance companies
- Companies based in Vermont
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