The story of National Farm Life Insurance Company is also the story of the man behind the company, and the dedicated people who have worked to preserve his ideals, and ensure that National Farm will remain a viable company in the years to come.
William C. Young, founder of National Farm Life, was duped early in life by false advertising, and from then on pledged himself to a higher ethical standard. During the Depression, he took every odd job he could find to put himself through college, and then secured a teaching position. Within two years he was successfully selling life insurance exclusively to teachers through Educator's Mutual Insurance. When that company reorganized and absorbed their profits instead of returning them to the teachers in dividends as promised, Mr. Young decided there ought to be a better way to structure an insurance company to protect the policyholders.
After his tour of duty in World War II, during which time he sold war bonds, Mr. Young met with the Texas State Board of Insurance and presented his unique and sound ideas for the fledgling insurance company. On March 12, 1946, at the end of a six-month journey around the state raising funds to start his business, the charter was granted.
National Farm Life opened its doors in the North Fort Worth Bank Building in the celebrated Stockyards. Then after two successful decades of commerce, the company purchased a 20-acre tract of land and built a new office. With his wife and son by his side, amidst great celebration, Mr. Young moved his company into its current location on April 1, 1968.
Mr. Young's unprecedented stipulation of limiting the company's stockholders to a 10% return on the original price of their stock is the backbone of the National Farm Life story. Policyholders receive their share of the company's profits through dividends on their whole life policies.
National Farm Life -- providing security for the future.
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