Harry Lee Waterfield founded Investors Heritage Life Insurance Company, which was incorporated on August 31, 1960, and headquartered in Lexington, Kentucky. It was licensed by the Kentucky Department of Insurance on March 1, 1961 and the first policy was sold April 26, 1961. In August 1963, a majority of the outstanding stock was purchased by Kentucky Investors, Inc., a holding company, of which Harry Lee Waterfield was President and Chairman of the Board. In June 1964 the company moved to their current location at 200 Capital Avenue, Frankfort, Kentucky.