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468:. In some areas, premium collections, at least on a weekly basis, had to be curtailed (gasoline rationing was a factor) and many clients who were used to having their premiums collected in person by an agent found themselves having to take the initiative to mail in their premiums or lose their coverage.
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The company soon expanded into "industrial life insurance," so named because it was generally aimed at industrial workers, which was also sold on the debit system, and accidental death and dismemberment insurance, which rather than a weekly income paid a stated, fixed amount, if the insured died by
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employed by the company, usually the salesman, made periodic visits to the client's home to collect the premium (and, generally, attempt to sell more insurance). The frequency of these visits was typically weekly in the early years; in later years the collection visits were more often bi-weekly or
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In
December 1901, the National Sick and Accident Association was sold to C. A. Craig to settle an estate. By 1902, the company was nearly insolvent. In the early years, the company's business consisted primarily of low-premium, low-benefit "sick and accident" policies, which is a form of
429:" station (meaning that no other station could broadcast on that frequency during nighttime hours). Its studios were at first in the National Life office building in downtown Nashville at Seventh and Union Streets. On November 28, 1925, management began the program that soon became the
328:, the amount of the benefit was limited to somewhat less than the regular earnings of the insured. The vast majority of the policies, especially during the early years, were sold on the "debit system" (also called "home service insurance"), meaning that an
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studios of WSM (which began in 1950 as the first
Nashville television station) had moved to West Nashville near the station's transmitting tower in 1963; the radio stations followed in 1966. In 1969, a plan was announced to build a
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for accidental loss of life, which could be triple indemnity or even more if death occurred as the result of an accident on a public conveyance. For this reason, these plans were often derided by their detractors as
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bid for NLT. NLT made a counter-offer to buy out AGC. In 1982 AGC, which had owned
Nashville rival L&C since the 1960s, prevailed. Having acquired NLT, AGC merged the former rivals over the next decade and
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accident or lost sight or use of an eye or a limb. The industrial life insurance plans were usually for small face amounts: typically $ 250, $ 500, or $ 1,000 in the early years. They featured
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20:
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Another development of the 1970s was the phasing out of weekly premiums; the former weekly premium was multiplied by 4.3 and became the monthly premium for the same coverage.
530:, "NLT Corporation," (NLT) with the "NL" standing for "National Life" and the "T" standing for Third National Bank, one of Nashville's leading banks (acquired in the 1990s by
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421:, including the company's own messages, over its powerful 1,000 watt station, which in January 1927 increased to 5,000 watts, and in November 1932, became a 50
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music") a regional, and eventually national, cultural phenomenon. On
September 25, 1950, the company spawned Nashville's first television station, WSM-TV (now
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in 1957 was, briefly, Nashville's only skyscraper and the tallest building in the
Southeast. The new National Life building, across the street from the
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By the mid-1960s the company had outgrown its home office in downtown
Nashville. It had also been overshadowed by one of its principal competitors, the
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483:, had 30 stories and was both considerably larger and located on higher terrain, so it appeared to be grander than its rival, as intended.
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534:). Banking laws and regulations of the period thwarted the acquisition of Third National but the holding-company was maintained.
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in 1929. Like many of them, National Life survived by offering its clients policy loans against the plans' cash values. With
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insurance that paid the holder a stated amount for every week he was unable to work due to illness or injury. To prevent
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507:." Other than the usual selection of thrill rides and "kiddie rides," the park featured shows of diverse genres of
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that operated from 1900 until it was acquired in a hostile takeover in 1982 by
American General Corporation.
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The motto of
National Life & Accident was "We Shield Millions". The radio station call letters "
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reflected the motto of
National Life; the insurance company owned the radio station and the
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544:'s American General Corporation (AGC), another insurance holding company, announced a
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In the late 1990s, the
National Life/American General building was sold to the
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and eventually covered most of the continental U.S. except the northeast, the
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the "non-core" assets of NLT, particularly its entertainment properties.
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Around the time of the home office move, National Life reorganized as a
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came another crisis due to the manpower shortage brought about by
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Opryland theme park, WSM and fledgling cable television network
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Industrial life and accidental death and dismemberment insurance
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company and adopted the National Life name shortly thereafter.
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The company gradually expanded its operations to the south-
499:, a sausage company located in the Pennington Bend of the
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Defunct financial services companies of the United States
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569:. American General would later merge into New York-based
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U.S. life insurers faced a crisis with the coming of the
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illions (which was in turn taken from its shield-shaped
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Its greatest marketing development was the beginning of
573:(AIG). Its division of the corporation retained the
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Financial services companies disestablished in 1982
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of the National Life and Accident Insurance Company
588:, named in honor of the former state comptroller.
511:, not just country. Construction began on the new
645:Financial services companies established in 1900
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473:Life and Casualty Insurance Company of Tennessee
281:National Life and Accident began in 1900 as the
614:"National Life and Accident Insurance Company"
69:"National Life and Accident Insurance Company"
665:Life insurance companies of the United States
618:Tennessee Encyclopedia of History and Culture
333:monthly. Most of the company's clients were
258:National Life and Accident Insurance Company
122:National Life and Accident Insurance Company
58:introducing citations to additional sources
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48:Relevant discussion may be found on the
655:Companies based in Nashville, Tennessee
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283:National Sick and Accident Association
166:National Sick and Accident Association
16:American insurance company (1900-1982)
670:Defunct companies based in Tennessee
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586:William R. Snodgrass Tennessee Tower
523:for the new facility in March 1974.
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685:1982 disestablishments in Tennessee
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300:," seen on the microphones of the
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289:company. It was reorganized as a
675:1900 establishments in Tennessee
515:at about the same time, and the
41:relies largely or entirely on a
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561:(TNN) were sold to what became
503:. The park opened in 1972 as "
393:on October 5, 1925. Taking its
21:National Life Insurance Company
1:
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563:Gaylord Entertainment Company
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571:American International Group
475:("L&C"), whose 31-story
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315:"Sick and accident" policies
212:American General Corporation
204:Acquired in hostile takeover
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612:Connelly, John Lawrence.
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19:Not to be confused with
519:left the deteriorating
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440:(then commonly called "
452:Evolution and takeover
559:The Nashville Network
540:In the early 1980s,
513:Grand Ole Opry House
266:Nashville, Tennessee
222:Nashville, Tennessee
135:premium receipt book
54:improve this article
555:The Grand Ole Opry,
495:on the property of
486:By this point, the
397:from the company's
381:religious ministers
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582:State of Tennessee
157:Financial services
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373:Pacific Northwest
335:African Americans
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264:company based in
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575:American General
546:hostile takeover
521:Ryman Auditorium
501:Cumberland River
458:Great Depression
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348:double indemnity
260:was an American
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110:February 2018
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71: –
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65:Find sources:
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43:single source
39:This article
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623:February 14,
621:. Retrieved
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505:Opryland USA
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466:conscription
462:World War II
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377:middle-class
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355:insurance."
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217:Headquarters
143:Company type
133:An original
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40:
497:Rudy's Farm
436:which made
419:advertising
236:Area served
163:Predecessor
639:Categories
592:References
493:theme park
488:television
477:skyscraper
322:disability
277:Foundation
80:newspapers
567:ViacomCBS
442:hillbilly
359:Expansion
353:streetcar
209:Successor
50:talk page
551:spun off
532:SunTrust
423:kilowatt
395:callsign
245:Products
153:Industry
577:brand.
542:Houston
446:WSMV-TV
272:History
191: (
186:Defunct
176: (
171:Founded
94:scholar
409:hield
287:mutual
96:
89:
82:
75:
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399:motto
391:radio
326:fraud
291:stock
101:JSTOR
87:books
625:2018
517:Opry
415:logo
309:Opry
285:, a
256:The
201:Fate
193:1982
189:1982
178:1900
174:1900
73:news
448:).
388:WSM
298:WSM
56:by
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600:^
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411:M
407:S
403:W
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108:(
98:·
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