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National Life Insurance Company was chartered by the Vermont Legislature on November 13, 1848. [3] [4] [5] It has been insuring people for 175 years and was one of the first mutual life insurance companies in the U.S. [6] The company wrote its first policy on the life of Daniel Baldwin, a resident of Montpelier, on January 17, 1850.
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In December 1901, the National Sick and Accident Association was sold to C. A. Craig to settle an estate. By 1902, the company was nearly insolvent. [1] In the early years, the company's business consisted primarily of low-premium, low-benefit "sick and accident" policies, [1] which is a form of disability insurance that paid the holder a stated amount for every week he was unable to work due ...
On 9 October 2023, the company announced an agreement where S. USA Life Insurance Company, Inc., an affiliate of Prosperity Life Group, will acquire National Western in an all-cash transaction valued at approximately $1.9 billion. [6]
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