National Life Insurance Company was chartered on November 13, 1848 “upon the principle of mutual participation in the funds or profits” of the company. As such, the National Life of Vermont was a mutual company even though that fact was not apparent from its name. The company officially issued its first policy and began business on February 1, 1850. Its name bespoke the fact that its organizers were from many different states and believed company life insurance policies would be sold throughout the nation.