National Farm Life Insurance
“It’s more than just business,” said Brad Coon, Vice President of Marketing for National Farm Life Insurance Company. “We try to treat the company as much like a family as we possibly can.”
The story of National Farm Life began with one man’s commitment to integrity. William C. “Brigham” Young was no stranger to the everyday struggles of hardworking men and women. During the Great Depression, Young paid his way through college at Texas Tech University by taking on every odd job he managed to find, eventually becoming a teacher. Soon afterward, he began selling life insurance to fellow teachers, working for a company called Educator’s Mutual Insurance. At first, Young believed that company’s promise of returning profits to their policyholders in dividends.
“He kept waiting to see when all these profits were going to start coming back to the policyholders,” Coon said. “But the big dogs in that company had other ideas.” When the company reorganized and held on to the profits, Young became disillusioned with their false promises, which he felt had taken advantage of their own policyholders. It was then that his unique vision for National Farm Life was born.
Following his return from a tour of duty in World War II, Young set out to make his dream a reality. “He traveled around the state of Texas raising funds,” Coon said. “He had to raise $140,000 to start his stock life company.” Young honored his roots and focused his efforts around the agricultural community, building his company specifically with farmers and rural residents in mind. In March of 1946, the charter for his new company was granted. Young set up National Farm Life’s original office at a building in the legendary Ft. Worth Stockyards.
“He structured a company that was different from any other,” Coon said. “It was really unique.” Young’s dedication to making sure his policyholders saw a return of profits was unprecedented. “He put a limit on the amount of money stockholders could receive—ten percent on that original investment of $140,000. That means we pay out $14,000 a year to our stockholders, which equates to $7.50 per share—and it can never be more than that.” The additional profits go first to keeping the company financially safe, the remaining is returned to the policyholders in the form of dividends. “Just in 2018, we’ll pay our policyholders a little over three million dollars in dividends,” Coon said.
National Farm Life remains committed to their founder’s sense of respect and responsibility toward hardworking Texans. Policyholders collect their share of profits through dividends on whole life policies, but they also receive something even more valuable, one thing that’s priceless in an uncertain world—peace of mind knowing their family is protected no matter what tomorrow brings. Their agents honor the job of safeguarding your family’s financial future, guaranteeing your loved ones won’t suffer hardship after you’re gone.
National Farm Life only does business in Texas, so their focus is always at home on the Lone Star State, not far away markets. Let one of their friendly agents walk you, step by step, through their policies to find the one best suited to your unique needs. “Our products are simple,” Coon explained. “They’re old school products. The insurance world has done a good job of confusing people about what’s what and how things work. We always say, don’t sell anything smarter than yourself—so we don’t build anything smarter than us.”
The personal touch is the secret to National Farm Life’s long-time success. “It’s really cool to see the relationships built between our agents and policyholders,” Coon said. “We know their spouses, their kids, and their dogs. They seem like family. That’s a top-to-bottom mentality in the company—we call it the National Farm Life family.”
National Farm Life Insurance Company provides security for your loved ones while building a relationship of trust. They issue policies to people in all stages of life—from age zero to age 85. “We’re a family needs market,” Coon said. “The way our products are designed is that an agent will never have to apologize for someone purchasing it.”