Great Moments in History

Another great moment occurred in 1890 when the leaders of a handful of local life underwriter associations gathered in Boston and created the National Association of Life Underwriters. For the first time the agents had a national and unified voice. It was a voice that was to speak effectively for both seller and buyer of life insurance for many decades to come. It was a voice that would magnify itself in future years by the creation of other entities to assure progress for people selling life insurance and their clients. Another case of small beginnings moving on to greatness.

Solomon Heubner contributed immensely to uplifting the sales of life insurance to a profession, primarily through education. One of his great moments was the writing of the first textbook on life insurance, and which was given financial backing by NALU. Following that “moment” he became the guiding light for agent education for many years. A small movement at first–and one even opposed by some companies–but an instant hit with agent leaders of the day.

From its very inception, NALU was committed to the task of raising the selling of life insurance to the level of a profession through education. A number of allies were enlisted in this cause, including the YMCA, the Carnegie people and several universities. But over time it became clear that more was needed, and ideally, an institution of its own dedicated to life and health insurance appeared to be the answer. At a NALU meeting in 1925, the idea of following the lead of Canada, which had already established a CLU program, was introduced and authority was given to proceed. At its 1927 mid-year meeting, the NALU governing body voted to create the American College of Life Underwriters (now American College). Pursuant to that vote the college was incorporated in Washington, D.C. with 12 NALU leaders (six of them past NALU presidents) as incorporators. Thus the U.S. version of CLU was born and what a magnificent moment in history that was.

Coincidentally, at that same meeting in 1927 another great moment in our history occurred. A small group of mega-producers for that day and age formed the “Million Dollar Round Table of the National Association of Life Underwriters.” The organization was more popularly called “MDRT” and was always a separate organization. In 1973, it dropped NALU from its official name in recognition of a growing international outreach. Again, a wonderful moment in our history and what a great influence for the promotion of life insurance around the world.

In 1947, NALU’s educational and training efforts were buttressed with the creation of the Life Underwriters Training Council, a joint venture with two company associations. A great moment for new people entering our business.

Finally, a few years ago, NALU changed its name to the National Association of Insurance and Financial Advisors. This was in recognition of the changing nature of the business. There have been pluses and minuses to this moment in history and the jury is still out as to whether it has been beneficial to the association. Agents are comfortable with the term advisor–but, like jeans, there are advisors of all kinds everywhere you look.