National Life Group
| Company type | Mutual company |
|---|---|
| Industry | Life insurance, Financial services |
| Founded | November 13, 1848 in Montpelier, Vermont, United States |
| Headquarters | Montpelier , United States |
Area served | United States |
Key people | Mehran Assadi (CEO), Nimesh Mehta (CIO) |
| Products | Life insurance, Annuities, Financial products |
| Website | nationallife |
National Life Group is a U.S.-based life insurance provider with its main office located in Montpelier, Vermont. Operating under the trade name National Life Insurance Company along with its affiliates, the organization delivers life insurance and annuity solutions tailored for individuals, families, and corporate clients. The company was officially established in 1848 through legislation enacted by the Vermont General Assembly.
History
The Vermont Legislature granted a charter to National Life Insurance Company on November 13, 1848. With a legacy spanning over 175 years, it stands as one of the earliest mutual life insurance firms in the United States. The inaugural policy was issued on January 17, 1850, and that same year the company processed its first death benefit claim. Early policyholders included passengers aboard the Titanic and those affected by the 1918 influenza pandemic.
Joining the Vermont Chamber of Commerce in 1957, National Life Group has since expanded its offerings to include various financial products such as life insurance and annuities. By 2021, it had grown to serve more than 1.1 million policyholders with life insurance coverage amounting to $252 billion in force.
While headquartered in Montpelier, Vermont, National Life Group also operates an office in Addison, Texas. Its affiliated entities comprise National Life Insurance Company, Life Insurance Company of the Southwest, and Equity Services, Inc., which functions as a broker-dealer and registered investment advisor. In 2017, the firm sold its Sentinel mutual funds division to Touchstone Investments.
Acknowledged for outstanding business performance, National Life Group was designated one of “America’s Magnificent Eight Exceptional Companies” by The CEO Forum in 2018. The company further enhanced its digital capabilities through strategic collaborations with NTT DATA and Cognizant in 2019 aimed at accelerating technological innovation and elevating customer service.
Between 2008 and 2019, National Life Group experienced an extraordinary increase of 252% in life insurance sales, far exceeding the national average growth rate of approximately 6%. CEO Mehran Assadi was honored with the Transformative CEO Award for Customer Experience in 2020. In 2021, National Life Group achieved the top position in indexed life sales rankings, while CIO Nimesh Mehta received the ORBIE CIO of the Year award.
In 2022, National Life Group earned recognition on Inc.’s Best in Business list within both the insurance sector and Black Entrepreneurship category. That year also marked the launch of BUILD (Blacks Uplifted in Leadership), an initiative designed to close leadership diversity gaps.
During the COVID-19 crisis, National Life Group took proactive measures by covering at-home antigen testing expenses prior to federal government mandates.
The company’s organizational culture and achievements have been highlighted by authors Jackie and Kevin Freiberg in their book CAUSE!, where it is featured among other prominent business case studies.
Do Good Fest
Do Good Fest is an annual charitable concert hosted by National Life Group that raises funds for the Branches of Hope Cancer Patient Fund at Central Vermont Medical Center. The event includes performances by national and local musicians, food vendors, a Nonprofit Village area, and activities suitable for families. In 2022, it introduced Beats for Good, a music competition spotlighting Vermont high school talent, generating over $300,000.
That same year marked the debut of Texas’ first Do Good Fest, which raised upwards of $70,220 to benefit Parkland Health's Pediatric Behavioral Health Program focused on mental health care for uninsured children. Emmy-nominated Gangstagrass headlined this concert.
In response to severe flooding in Vermont during 2023, Do Good Fest transitioned to a virtual event format to assist flood relief efforts, successfully raising more than $1.7 million.
The Share the Good initiative by National Life matches charitable contributions made by employees. In 2019, this program generated $500,000, and by 2022, donations surpassed $700,000, benefiting more than 435 organizations. The 2023 campaign achieved a new milestone with $817,000 raised, supporting upwards of 525 nonprofit organizations globally through gifts from employees, board members, and retirees.
Thanksgiving Dinners
During the 2020 coronavirus pandemic, National Life Group collaborated with Sodexo to offer complimentary Thanksgiving to-go meals. These included both turkey and vegetarian selections available for either pickup or home delivery.
Corporate Responsibility
Founded in 2006, the National Life Group Foundation is dedicated to combating childhood hunger and promoting youth mental health. It backs programs such as the LifeChanger of the Year Award and financed a 2019 study focused on evidence-based approaches to eliminate childhood food insecurity in Vermont. The Foundation operated with a $2.3 million budget in 2023.