1848
1848
National Life is born on November 13
Founders Benjamin Balch, Joseph B. Danforth, Dr. Julius Y. Dewey, Homer W. Heaton, Timothy Redfield and Paul Dillingham charter the name, “National Life Insurance Company of the United States.”
Image: Company Charter
1849
The company takes the first business steps
At its new office in Montpelier, the company takes the first business steps of conducting a board meeting, electing officers, issuing a prospectus, and adopting bylaws and the table of rates. The company elects William C. Kittredge as President and Julius Dewey, M.D. as the first Medical Director. The first General Agency opens in Montreal, Quebec.
Image: First home in 1850 at 27 State Street in office space leased from Vermont Mutual Fire Insurance.
Application for the first policy
1850
First claim
Rowland Allen of Ferrisburgh, Vermont, dies in 1850 in San Diego, on his way to the California Gold Rush. California was not yet part of the United States, but the founders know they had to fulfill the policy despite a clause limiting its geographic reach to the U.S. Another limit was the funds the young company had time to reserve. To make good on the promise, the founders secured capital based on their personal credit. Mrs. Allen was so grateful upon receiving the death benefit from Julius Dewey that she placed advertisements for National Life.
Image: Illustration of Rowland Allen heading to the gold rush
Second home office
National Life Group’s second home office.
Image: Second Home Office
The first Annual Report
Application for Death Claim #1 : Rowland Allen
1851
Dr. Julius Y. Dewey is elected President
Dr. Julius Y. Dewey is elected President. New by-laws are adopted.
First policies issued in Maine and Wisconsin. Insurance in force is 401 Whole Life policies with a total face of $498,400, and 381 Term with a total face of $479,950 for a total of almost $1 million.
Dr. Dewey’s desk and company safe
1858
Charter is amended
Company becomes National Life Insurance Company, “of the United States” is removed from name. First policy issued in New Jersey.
Dr. Dewey’s pencil
1860
Third Home Office building
The company occupies its third Home Office building at 116 State Street, where it remained for thirteen years.
1861
Civil War begins
Charles Dewey, son of Dr. Dewey, begins to appear in company records at age 44. Civil War begins. Company feels war will be short so insureds are allowed to serve in the military for a 2% extra premium. First policy issued in Rhode Island.
1873
Fourth Home Office building
The company occupies its fourth Home Office building located at 110 State Street in space rented from Vermont Mutual.
