National Life Insurance Company
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National Life Insurance Company is an insurance and financial services company based at Montpelier in the U.S. state of Vermont. The company was chartered by the Vermont General Assembly in 1848; but did not issue its first policy until 1850. It was originally organized as a mutual life insurance company, a form of organization, whereby policy owners own the company. This format was chosen because of a general distrust of stockholder-owned businesses, a shortage capital and people were reluctant to buy stock. National Life's history has been intertwined with the history of Vermont, and its state government. As the company grew through the nineteenth and twentieth centuries the state government purchased the company's series of headquarters as they outgrew them.
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.
