National Life Group: Difference between revisions

| founded = {{Start date and age |1848|11|13}}

'''National Life Group''' is an American [[life-insurance]] company based in [[Montpelier, Vermont]]. It is the trade name of ''National Life Insurance Company'' and its affiliates that offers [[life insurance]] and [[Annuity (American)|annuity]] products for individuals, families, and businesses. National Life Insurance Company was chartered in 1848 by the [[Vermont General Assembly]].

National Life Insurance Company was chartered by the Vermont Legislature on November 13, 1848.<ref name=":0">{{Cite web|url=https://www.forbes.com/sites/louisefron/2017/02/01/how-the-ceo-of-national-life-group-drives-continuous-improvement/|title=How The CEO Of National Life Group Drives Continuous Improvement|last=Efron|first=Louis|website=[[Forbes]]|language=en|access-date=2019-12-19|url-access=subscription|url-status=live|archive-url=https://web.archive.org/web/20170201231422/https://www.forbes.com/sites/louisefron/2017/02/01/how-the-ceo-of-national-life-group-drives-continuous-improvement/#7d4533d49c82|archive-date=2017-02-01}}</ref><ref name="VTDigger">{{Cite web|last=Chen|first=Peng|url=https://vtdigger.org/2019/06/30/national-life-sales-outpace-national-trends/|title=National Life sales outpace national trends|date=30 June 2019|website=[[VTDigger]]|access-date=19 December 2019}}</ref><ref>{{Cite bookreport|url=https://books.google.com/books?id=9CY7AQAAMAAJ|title=Biennial Report of the Insurance CommissionerCommissioners of the State of Vermont|last=Commissioner|firstpublisher=Vermont Insurance Commissioner|date=1898|language=en}}</ref> It has been insuring people for 175 years and was one of the first mutual life insurance companies in the U.S.<ref name=":5">{{Cite web|last=Zorbas |first=Holly|date=2020-02-18|title=How This Life Insurance Company Inspires Young Adults|url=https://www.creditdonkey.com/how-national-life.html|access-date=2020-06-03|website=CreditDonkey}}</ref> The company wrote its first policy on the life of Daniel Baldwin, a resident of Montpelier, on January 17, 1850. It also paid its first death claim only a few months after its founding at the death of Rowland Allen, who had bought two policies for face amounts of $500 each.<ref>{{Cite webpress release |date=2013-11-13 |title=NationalPhoto LifeRelease Group-- marksSince 165th1848, anniversaryCompany's Insurance Policies Linked to Nation's History |url=https://vermontbizwww.globenewswire.com/news-release/2013/november11/13/national589655/25156/en/Photo-lifeRelease-groupSince-marks1848-165thCompany-anniversarys-Insurance-Policies-Linked-to-Nation-s-History.html |access-date=2023-02-21 |website=Vermont Business Magazine[[GlobeNewswire]]}}</ref> Rowland died while traveling to California in 1850. Other past insurance customers have included passengers on the Titanic, as well as victims of the 1918 influenza epidemic.<ref name=":5" />

The company became a member of the Vermont Chamber of Commerce in 1957.<ref>{{Cite web|url=https://web.vtchamber.com/Financial-Services/National-Life-Group-391|title=National Life Group|website=Vermont Chamber of Commerce|language=en|access-date=2020-02-20}}</ref> National Life offers a range of financial services, including life insurance, and annuities.<ref>{{Cite web|url=https://www.vprvermontpublic.org/postvpr-news/2016-03-09/national-life-group-reports-2015-earnings|title=National Life Group Reports 2015 Earnings|last=Zind|first=Steve|website=www.vpr.org[[Vermont Public]]|date=9 March 2016|language=en|access-date=2019-12-19}}</ref><ref name=":5" /> The Group’sGroup's customer base was more than 1,100,000 in 2021, life insurance in force totaled $252 billion.

The company is based in [[Montpelier, Vermont]], with additional offices in [[Addison, Texas]].<ref name=":7">{{Cite web|last=Rose|first=Jeff|url=https://www.goodfinancialcents.com/insurance-quotes/life/companies/national-life-group/|title=National Life Group Life Insurance Review|date=2017-09-06|website=Good Financial Cents®|language=en-US|access-date=2019-12-19}}</ref><ref>{{Cite web|url=https://www.cio.com/article/3297972222127/how-national-life-manages-organic-growth-from-the-inside-out.html|title=How National Life manages organic growth from the inside out|date=20 August 2018|website=[[International Data Group|CIO Foundry]]|access-date=19 December 2019}}</ref><ref name="Dallas News">{{Cite web|last=Brown|first=Steve|url=https://www.dallasnews.com/business/real-estate/2019/04/09/insurer-is-doubling-its-addison-office-on-the-tollway/|title=Insurer is doubling its Addison office on the tollway|date=2019-04-09|website=[[The Dallas Morning News]]|language=en|access-date=2019-12-19}}</ref> Several member companies make up National Life Group, including National Life Insurance Company, Life Insurance Company of the Southwest.,<ref name=":2">{{Cite webpress release|url=https://insurancenewsnet.com/oarticle/National-Life-Group-Introduces-Lifetime-Income-Option-on-Indexed-Universal-Life-a-241990|title=National Life Group Introduces Lifetime Income Option on Indexed Universal Life (IUL) Products|date=2011-01-05|website=InsuranceNewsNet}}</ref> and Equity Services, Inc., a broker-dealer and registered investment advisoradviser.<ref name=":8">{{Cite web|url=https://www.sec.gov/Archives/edgar/vprr/1700/17004552.pdf|title=Equity Services, Inc. SEC financial statements|date=27 February 2017|website=SEC}}</ref> In 2017, National Life sold Sentinel mutual funds to Touchstone Investments.<ref>{{Cite webpress release|url=https://vermontbizwww.prnewswire.com/news-releases/2017/october/30/nationaltouchstone-lifeinvestments-sellscompletes-acquisition-of-sentinel-mutual-fundfunds-business-touchstone300545474.html|title=National Life sells Sentinel mutual fund business to Touchstone|date=2017-10-30|website=Vermont Business[[PR MagazineNewswire]]|language=en|access-date=2019-12-19}}</ref><ref>{{Cite webpress release|url=https://www.westernsouthern.com/about/newsroom/touchstone-enters-into-purchase-agreement-to-acquire-certain-assets-of-sentinel-asset-management-inc|title=Sentinel Mutual Funds Acquired by Touchstone Investments {{!}} |website=[[Western & Southern Financial Group]]|websitedate=www.westernsouthern.com30 October 2017 |language=en|access-date=2019-12-19}}</ref>

In 2018, The CEO Forum recognized National Life Group as one of “America’s Magnificent Eight Exceptional Companies.”<ref name="VTDigger"/> In 2019, the company expanded it'sits strategic partnership with [[NTT Data|NTT DATA]] to accelerate digital transformation.<ref>{{Cite webpress release|date=2019-09-04|url=https://www.nationallife.com/Our-Story/Newsroom/NLG-Extends-Strategic-Partnership-with-NTT-DATA-to-Accelerate-Digital-Transformation|title=National Life Group extends strategic partnership with NTT Data -|website=National SepLife 04,Group |access-date=2019-09-04|url-status=dead website|archive-url=Newshttps://web.archive.org/web/20200807152101/https://www.nationallife.com/Our-Story/Newsroom/NLG-Extends-Strategic-Partnership-with-NTT-DATA-to-Accelerate-Digital-Transformation|archive-date=2020-08-07}}</ref> In 2019, It also expanded its partnership with Cognizant, an IT consulting corporation.<ref>{{!}}Cite press release|url=https://news.cognizant.com/2019-04-16-National-Life-Transforms-Customer-Experience-Program-with-Cognizant|title=National Life GroupTransforms Customer Experience Program with Cognizant |date=April 16, 2019|website=[[Cognizant|Cognizant Technology Solutions]]|access-date=2019-092020-04-05}}</ref>

In March 2020, the company’scompany's CEO, Mehran Assadi, was awarded the Transformative CEO Award for Customer Experience in the insurance category by The CEO Forum.<ref name=":6">{{cite web |last=Reiss |first=Robert |date=2020-04-06 |title=Transformative CEO Awards For Customer Experience Announced |url=https://www.forbes.com/sites/robertreiss/2020/04/06/transformative-ceo-awards-for-customer-experience-announced |website=[[Forbes]] |access-date=2020-04-28 |url-status=live|url-access=subscription |archive-url=https://web.archive.org/web/20200409073229/https://www.forbes.com/sites/robertreiss/2020/04/06/transformative-ceo-awards-for-customer-experience-announced/#69aac36cea05|archive-date=2020-04-09}}</ref><ref>{{cite webinterview |date=March 2020 |title=TheMehran Assadi: Chairman, CEO Forum& President, National Life Group |url=https://theceoforumgroup.com/wp-content/uploads/2020/03/ceo.forum_.cx_.singles2.03.20.pdf |publisher=The CEO Forum Group |access-date=2020-04-28 |url-status=dead |archive-url=https://web.archive.org/web/20211228163102/https://theceoforumgroup.com/wp-content/uploads/2020/03/ceo.forum_.cx_.singles2.03.20.pdf|archive-date=2021-12-28}}</ref> In 2021, the company was ranked #1 in indexed life sales.<ref>{{Cite press release |date=2022-03-08 |title=Wink, Inc. Releases Fourth Quarter, 2021 Life Sales Results |url=https://www.winkintel.com/2022/03/wink_4q21/ |access-date=2023-04-21 |website=Wink, Inc. |language=en-US}}</ref> Nimesh Mehta was named ORBIE CIO of the year.<ref>{{Cite web |title=Nimesh Mehta: 2021 Dallas ORBIE Awards {{!}} National Life Group - Large Enterprise Winner |url=https://orbie.org/honoree/nimesh_mehta/1525 |access-date=2023-04-21 |website=ORBIE Awards}}</ref> In 2022, National Life Group was named to the Inc. Best in Business list in the insurance category and under the Area of Impact: Black Entrepreneurship.<ref>{{Cite web |date=2022 |title=Company Profile: National Life Group |url=https://www.inc.com/profile/national-life-group |access-date=27 April 2023 |website=[[Inc. (magazine)|Inc.com]]}}</ref><ref name=":17">{{Cite press release |date=2022-12-06 |title=National Life Group named to Inc.'s 2022 Best in Business List |url=https://www.nationallife.com/Our-Story/Newsroom/National-Life-Group-Named-to-Incs-2022-Best-in-Business-List |access-date=2023-05-02 |website=National Life Group}}</ref> National Life created BUILD (Blacks Uplifted in Leadership) to address the shortage of people of color in leadership positions.<ref name=":17" />

During the coronavirus pandemic, the company made the decision to cover at-home antigen tests before a federal ruling required it of all self-insured and private health insurance companies.<ref>{{Cite web |last=Lyons |first=Jack |date=2022-01-17 |title=Under new federal rule, UVM insurance now covers Covid antigen tests |url=https://vtdigger.org/2022/01/17/under-new-federal-rule-uvm-insurance-now-covers-covid-antigen-tests/ |access-date=2023-03-29 |website=[[VTDigger]] |language=en-US}}</ref>

Authors Jackie and Kevin Freiberg, who wrote ''NUTS! Southwest Airlines’ Crazy Recipe for Business and Personal Success'', feature National Life Group in their book ''CAUSE!.''<ref>{{Cite news|last=Mautz |first=Scott|url=https://www.inc.com/scott-mautz/this-ceo-is-stunning-a-sleepy-industry-with-culture-change-and-surprising-resul.html|title=This CEO Is Stunning a Sleepy Industry With Culture Change--and Surprising Results|date=13 June 2017|work=[[Inc. (magazine)|Inc.]]}}</ref><ref>{{Cite webmagazine |last=Rupe |first=Susan |date=August 2016 |url=httphttps://www.insurancenewsnetmagazineissuu.com/articleinnm/finding-inspiration-in-the-wake-of-lifes-storms-3138#.XjxrFxNKimndocs/innm0816/31 |title=Finding Inspiration In The Wake Of Life'S Storms {{!}} InsuranceNewsNetMagazine.com|websitemagazine=www.insurancenewsnetmagazine.comInsuranceNewsNet Magazine |access-date=2020-02-06 |via=[[Issuu]] |volume=9 |issue=8 |pages=24-30}}</ref><ref>{{Cite webpress release|url=httphttps://wwwwww2.multivu.com/players/English/7762251-cause-book-jackie-kevin-freiberg/|title=Cause-driven companies perform better, stand out in sea of sameness|date=16 February 2016|website=[[PR Newswire|Multivu]] |archive-url=https://web.archive.org/web/20160217091659/https://www2.multivu.com/players/English/7762251-cause-book-jackie-kevin-freiberg/|archive-date=2016-02-17}}</ref>

Founded in 2006, the National Life Group Foundation, the company's charitable foundation, sponsors various charitable events and programs focused on ending childhood hunger and supporting youth mental health.<ref>{{Cite webinterview |title=LEADERS Interview with Beth Rusnock, President, National Life Group Foundation |url=https://www.leadersmag.com/issues/2018.2_Apr/Purpose/LEADERS-Beth-Rusnock-National-Life-Group-Foundation.html |access-date=2023-03-08 |websitemagazine=www.leadersmag.comLeaders Magazine |volume=41 |issue=2 |page=68}}</ref> The Foundation helps sponsor the LifeChanger of the Year Award and the National Coalition for Safe Schools.<ref>{{Cite newspress release |url=https://www.prweb.com/releases/indiana_school_resource_officer_wins_national_lifechanger_of_the_year_spotlight_award/prweb16776312indiana-school-resource-officer-wins-national-lifechanger-of-the-year-spotlight-award-849780978.htmhtml|title=Indiana School Resource Officer Wins National LifeChanger of the Year Spotlight Award|date=11 December 2019|work=[[Cision]]}}</ref> In 2019 The Foundation funded the report, “Evidence-Based Strategies to End Childhood Food Insecurity and Hunger in Vermont”.<ref>{{Cite webpress release |url=https://vermontbizwww.nationallife.com/newsOur-Story/2019Old-Newsroom-Articles/marchArchived-Newsroom-Articles/06/newNew-reportReport-presentsPresents-strategiesStrategies-endto-childhoodEnd-hungerChildhood-vermontHunger-in-Vermont|title=New report presents strategies to end childhood hunger in Vermont|date=2019-03-06|website=VermontNational BusinessLife MagazineGroup|language=en|access-date=2020-02-25}}</ref><ref>{{Cite journal |last=DuBois |first=Nicole |last2=Arena |first2=Olivia |date=2019-03-06 |title=What Vermont taught us about fighting food insecurity |url=https://www.urban.org/urban-wire/what-vermont-taught-us-about-fighting-food-insecurity |journal=Urban Institute |language=en}}</ref><ref>{{Cite journal |last=Popkin |first=Susan J. |last2=Gilbert |first2=Brandi |last3=Harrison |first3=Eona |last4=Arena |first4=Olivia |last5=DuBois |first5=Nicole |last6=Waxman |first6=Elaine |date=2019-02-26 |title=Evidence-Based Strategies to End Childhood Food Insecurity and Hunger in Vermont |url=https://www.urban.org/research/publication/evidence-based-strategies-end-childhood-food-insecurity-and-hunger-vermont |journal=Urban Institute |language=en}}</ref> In 2023, the budget for the Foundation was $2.3 million.<ref>{{Cite webpress release |date=2022-11-15 |title=National Life Group Foundation board approves increase to $2.3 million {{!}} Vermont Business Magazine |url=https://vermontbizwww.nationallife.com/newsOur-Story/2022Newsroom/november/15/nationalNL-life-group-foundation-boardFoundation-approves-increase-23-million |access-date=2023-03-08 |website=vermontbiz.comNational Life Group}}</ref>

Do Good Fest, the Foundation’sFoundation's benefit concert, has raised more than $300,000 as of 2022.<ref name=":11">{{Cite webpress release |date=2022-10-18 |title=Do Good Fest Benefit Concert Comes to Levitt Arlington October 7 |url=https://www.arlingtontx.gov/news/my_arlington_t_x/news_stories/do_good_fest_benefit_concert_comes_to_levitt |access-date=2023-03-17 |website=www.arlingtontx.govMy Arlington TX |language=en-US}}</ref> The money benefits the Branches of Hope cancer patient fund at Central Vermont Medical Center.<ref name=":10">{{Cite web |title=Music fest raised $15,000 for cancer fund |url=https://www.vtcng.com/waterbury_record/news/local_news/music-fest-raised-15-000-for-cancer-fund/article_e295b13e-4133-11e5-888a-176e028ec660.html |access-date=2023-03-17 |website=Waterbury Record |publisher=[[Vermont Community Newspaper Group]] |date=13 August 2015 |language=en}}</ref><ref name=":1">{{Cite webpress release |date=2015-07-20 |title=National Life Group's Do Good Fest Raises $15,000 to Support CVMC's Cancer Patient Fund |url=https://www.cvmc.org/blog/cancer/national-life-groups-do-good-fest-raises-15000-support-cvmcs-cancer-patient-fund |access-date=2023-03-17 |website=[[Central Vermont Medical Center]] |language=en |archive-url=https://web.archive.org/web/20150910231305/https://www.cvmc.org/blog/cancer/national-life-groups-do-good-fest-raises-15000-support-cvmcs-cancer-patient-fund |archive-date=2015-09-10}}</ref><ref name=":3">{{Cite web |title=Do Good Fest |url=https://www.timesargus.com/news/do-good-fest/article_f949bec1-fd93-5cce-acdf-441f6797d35f.html |access-date=2023-03-17 |website=[[Barre Montpelier Times Argus|Times Argus]] |date=30 July 2016 |language=en}}</ref> This fund helps patients with non-medical financial burdens, such as utility bills, and gas and food purchases.'''<ref name=":1" />'''<ref name=":3" />

The Fest includes performances by national and local bands, food vendors, a Nonprofit Village with booths hosted by local nonprofits, and an area for kids.<ref name=":4">{{Cite webpress release |title=Do Good Fest returns bigger and better than ever {{!}} Vermont Business Magazine |url=https://vermontbiz.com/news/2022/july/15/do-good-fest-returns-bigger-and-better-ever |access-date=2023-03-24 |website=vermontbiz.comVermont Business Magazine}}</ref><ref name=":9">{{Cite web |last=Miller |first=Michael |date=2022-07-14 |title=Do Good Fest to kick off on July 16 |url=https://www.mychamplainvalley.com/news/local-news/do-good-fest-returns-to-raise-money-for-cancer-research/ |access-date=2023-03-24 |website=ABC22My &Champlain FOX44Valley |language=en-US}}</ref> In 2022, the concert was expanded to include Beats for Good, a high school music competition for Vermont students.<ref name=":4" /><ref name=":9" />

==== Do Good Fest - Texas ====

In 2022, the Foundation held the first-ever Texas Do Good Fest .<ref name=":12">{{Cite web |title=The National Life Group Foundation presents Do Good Fest - CultureMap Fort Worth |url=https://fortworth.culturemap.com/eventdetail/national-life-group-foundation-do-good-fest/ |access-date=2023-03-29 |website=fortworth.culturemap.com[[CultureMap]] |language=en}}</ref>'''<ref name=":11" />.''' The event raised over $70,220 for Parkland Health’sHealth's Pediatric Behavioral Health Program, which provides mental health screenings and services to uninsured and underinsured kids .<ref name=":12" /><ref name=":13">{{Cite web |last=Lawson |first=Maria |date=2022-11-21 |title=Do Good Fest Raises $70K for Parkland Health - People Newspapers |url=https://www.peoplenewspapers.com/2022/11/21/do-good-fest-raises-70k-for-parkland-health/ |access-date=2023-03-29 |language=en-US |website=[[People Newspapers]]}}</ref>. The Fest’sFest's benefit concert was headlined by Emmy-nominated Gangstagrass with opener Youngtones .<ref name=":12" /><ref name=":13" />.