485BPOS 1 varitrak12108485b.htm varitrak12108485b.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing
        As filed with the Securities and Exchange Commission on December 1, 2008 
        Registration No. 333-91938 
 
        File No. 811-9044 
 
 
 
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
 
Form N-6
 
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
 
Post-Effective Amendment No. 23
 
 
    REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 
 
Amendment No. 32
 
 
NATIONAL VARIABLE LIFE INSURANCE ACCOUNT
(Exact Name of Registrant)
 
 
 
NATIONAL LIFE INSURANCE COMPANY
(Name of Depositor)
One National Life Drive
Montpelier, Vermont 05604
 
(802) 229-7410
 
Lisa Muller
National Life Insurance Company
One National Life Drive
Montpelier, Vermont 05604
 
(name and complete address of agent for service)
 
Copy to:
Stephen E. Roth, Esq.
Sutherland Asbill & Brennan
1275 Pennsylvania Avenue, NW
 
Washington, DC 20004-2404
 
It is proposed that this filing will become effective: 
 
_X    immediately upon filing pursuant to paragraph (b) 
__    on                                     pursuant to paragraph (b) 
    60 days after filing pursuant to paragraph (a)(1) 
   
    on (date) pursuant to paragraph (a)(1) of Rule 485 
   
    This post-effective amendment designates a new effective date for a previously filed post-effective 
   
amendment.     
 
Title of Securities Being Registered: Units of Interests in a variable account under individual flexible premium 
variable universal life policies

Incorporated herein by reference are Parts A and B to the registration statement (File No. 33-91938) filed May 1, 2008.

2

National Life Insurance Company
National Variable Life Insurance Account

Varitrak
Supplement dated December 1, 2008 to the Prospectus dated May 1, 2008

The information in this supplement updates and amends certain information in your prospectus. Please read this supplement
along with your prospectus.

National Life has added 17 additional underlying portfolios as investment options to this product and made other related
changes. These changes are noted below.

The following additions have been made to the table on the cover page:     
 
 AllianceBernstein L.P.    Deutsche Investment    Fidelity Management &    Franklin Templeton 
   
 
 
    Management Americas Inc.    Research Company    Investments 
 
 
 
Alliance Bernstein Variable    DWS Variable Series II    Fidelity® Variable Insurance    Franklin Templeton Variable 
Products Series Fund, Inc.    DWS Small Cap Index VIP    Products    Insurance Products Trust 
           International Growth           Value Strategies    Franklin U.S Government 
           International Value                 Mutual Discovery 
           Small/Mid Cap Value                       Securities 
           Value             
 
 
 
 
 
 Neuberger Berman    Oppenheimer Funds, Inc.    T. Rowe Price Associates, Inc.    Van Eck Associates 
         
 Management, Inc.            Corporation 
 
 
 
 Neuberger Berman Advisers    Oppenheimer Variable    T. Rowe Price Equity Series, Inc.    Van Eck Worldwide Insurance 
 Management Trust         Account Funds        Trust 
       Socially Responsive         Balanced/VA    Personal Strategy Balanced           Worldwide Bond 
         Main Street Small Cap/VA               Worldwide Emerging 
         Strategic Bond/VA                   Markets 
                   Worldwide Hard Assets 
                   Worldwide Real Estate 

The last paragraph in the Summary of Principal Policy Benefits section on page 2 is deleted and replaced with the following:

We offer Owners the opportunity to participate in “Illuminations.” Under this investment advisory
program, National Life has arranged for FundQuest, Inc. (“FundQuest”), a registered investment adviser
firm that is independent of National Life, to provide an investment advisory service under which
FundQuest maintains an allocation of the Accumulated Value of your Policy among the available options
that is suited to your investment objective, financial situation and risk tolerance. To participate in
Illuminations, you must enter into a Limited Power of Attorney with FundQuest under which you will
authorize FundQuest to direct National Life to implement changes to your portfolio allocation model as
determined by FundQuest, without obtaining your specific approval of the changes. The Illuminations
investment advisory program is available without charge to Owners.

The following additions have been made to the table of Underlying Fund Annual Expenses beginning on page 10:

Fund    Management    12b-1    Other    Acquired    Gross Total    Waivers,    Net Total 
    Fee    Fees2    Expenses    Fund    Annual    Reimbursements,    Annual 
                Fees    Expenses3    and Recoupment    Expenses3 
 
 
AllianceBernstein VPS                             
                       International Growth                             
                       Portfolio - Class A Shares    0.75%    0.00%    0.46%    0.00%    1.21%    0.00%                 1.21% 
                       International Value                             
                       Portfolio - Class A Shares    0.75%    0.00%    0.06%    0.00%    0.81%    0.00%                 0.81% 
                       Small/Mid Cap Value    0.75%    0.00%    0.08%    0.00%    0.83%    0.00%                 0.83% 

3

                       Portfolio - Class A Shares                             
                       Value Portfolio - Class A                             
                       Shares    0.55%    0.00%    0.10%    0.00%    0.65%    0.00%    0.65% 
Fidelity® VIP                             
                       Value Strategies Portfolio -                             
                       Initial Class    0.56%    0.00%    0.14%    0.00%    0.70%    0.00%    0.70% 
Franklin Templeton                             
                       Mutual Discovery Securities                             
                       - Class 1 Shares    0.80%    0.00%    0.17%    0.00%    0.97%    0.00%    0.97% 
                       U.S. Government - Class 1                             
                       Shares    0.49%    0.00%    0.04%    0.00%    0.53%    0.00%    0.53% 
Neuberger Berman AMT                             
                       Socially Responsive                             
                       Portfolio - I Class    0.84%    0.00%    0.08%    0.00%    0.92%15    0.00%    0.92%15 
DWS Investments VIT Funds                             
                       Small Cap Index VIP -                             
                       Class A Shares    0.35%    0.00%    0.15%17    0.00%    0.50%23    0.00%    0.50%23 
Oppenheimer Variable Accounts Funds                             
                       Balanced Fund/VA -                             
                       Service Shares    0.72%    0.25%    0.03%24    0.00%    1.00%25    0.00%    1.00%25 
                       Main Street Small Cap                             
                       Fund/VA® - Service Shares    0.70%    0.25%    0.02%24    0.00%    0.97%    0.00%    0.97% 
                       Strategic Bond Fund/VA -                             
                       Service Shares    0.57%    0.25%    0.02%24    0.02%    0.86%26    0.00%    0.86%26 
T. Rowe Price                             
                       Personal Strategy Balanced                             
                       Portfolio VIP I    0.90%    0.00%    0.00%    0.00%    0.90%    0.00%    0.90% 
Van Eck Worldwide Insurance Trust                             
                       Worldwide Bond - Initial                             
                       Class    1.00%    0.00%    0.32%    0.00%    1.32%27    0.00%    1.32%27 
                       Worldwide Emerging                             
                       Markets - Initial Class    1.00%    0.00%    0.23%    0.00%    1.23%27    0.00%    1.23%27 
                       Worldwide Hard Assets -                             
                       Initial Class    1.00%    0.00%    0.01%    0.01%    1.02%27    0.00%    1.02%27 
                       Worldwide Real Estate -                             
                       Initial Class    1.00%    0.00%    0.39%    0.00%    1.39%27    0.00%    1.39%27 

1. The Fund fees and expenses used to prepare the table above were provided to us by the Funds. We have not independently verified such information. Current 
or future expenses may be greater or less than those shown. In addition, certain Funds may impose a redemption fee of no more than 2% of the amount of Fund 
shares redeemed. We may be required to implement a Fund's redemption fee. The redemption fee will be assessed against your Contract Value. For more 
information, please see each Fund's prospectus. 
2. Our affiliate, Equity Services, Inc., the principal underwriter for the Contracts, will received 12b-1 fees deducted from certain Fund assets attributable to the 
Contracts for providing distribution and shareholder support services to some Funds. 
3. The Total Annual Fund Operating Expenses may not be the same as the reported in the portfolio's financial highlights and shareholder reports, because Total 
Annual Fund Operating Expenses include expenses related to other investment companies acquired by the portfolio, if any, while the financial highlights and 
shareholder reports do not. 
4. Acquired Fund Fees are not fees or expenses incurred by the fund directly but are expenses of the investment companies in which the fund invests. You incur 
these fees and expenses indirectly through valuation of the fund's investment in those investment companies. As a result, the Net Annual Fund Operating 
Expenses may exceed the limit on Total Annual Fund Operating Expenses, if any. The impact of the acquired fund fees and expense are included in the total 
returns of the Fund. 
 
15. Neuberger Berman Management Inc. ("NBMI") has undertaken through December 31, 2011, to waive fees and/or reimburse certain operating expenses, 
including the compensation of NBMI (except with respect to Short Duration Bond Portfolio, Mid-Cap Growth Portfolio, and Partners Portfolio) and excluding 
taxes, interest, extraordinary expenses, brokerage commissions and transaction costs, that exceed, in the aggregate, 1% of average daily net asset value of the 
Short Duration Bond Portfolio, Mid-Cap Growth Portfolio, and Partners Portfolio and 1.30% of average daily net asset value of the Socially Responsive 
Portfolio. The expense limitation arrangements for the Portfolios are contractual and any excess expenses can be repaid to NBMI within three years of the year 
incurred, provided such recoupment would not cause a Portfolio to exceed its respective limitation. 
 
 
 
17. Restated on an annual basis to reflect approved fee changes taking effect on May 1, 2008. Includes a 10% administrative fee paid to the Advisor. 
23. Through April 30, 2009, the Advisor has contractually agreed to waive all or a portion of its management fee and reimburse or pay operating expenses of the 

4

portfolio to the extent necessary to maintain the portfolio's total annual operating expenses at 0.47% for Class A Shares, excluding certain expenses such as
extraordinary expenses, taxes, brokerage and interest.
24. Other Expenses include transfer agent fees, custodial fees, and accounting and legal expenses the Fund pays. The Fund's transfer agent has voluntarily
agreed to limit transfer and shareholder servicing agent fees to 0.35% per fiscal year. That undertaking may be amended or withdrawn at any time. For the
Fund's fiscal year ending December 31, 2007, the transfer agent fees did not exceed the expense limitation described above. The Fund also receives certain
credits from the Fund's custodian that, during the fiscal year, reduced its custodial expenses less than 0.01% of average daily net assets.
25. Effective September 1, 2007, the Manager has voluntarily agreed to waive a portion of the advisory fee and/or reimburse certain expenses so that the total
expenses of the Fund will not exceed 0.92% of average annual net assets. After the waiver the Management Fees were 0.70% and the Gross Annual Operating
Expenses were 0.98% . This voluntary waiver and/or reimbursement may be withdrawn at any time.
26. The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Fund's investment in
Oppenheimer Institutional Money Market Fund and Oppenheimer Mast Loan Fund, LLC. During the fiscal year ended December 31, 2007, the Manager waived
$501,695 for Oppenheimer Institutional Money Market Fund and Oppenheimer Master Loan Fund, LLC management fees. The Fund also had a reduction to
custodian expenses of $2,906. After these waivers/reductions, the actual Other Expenses and Gross Annual Operating Expenses as percentages of average daily
net assets were 0.00% and 0.82%, respectively.

27. For the period May 1, 2008 through April 30, 2009, the Advisor contractually agreed to waive fees and reimburse certain operating expenses (excluding
interest, dividends paid on securities sold short, taxes, extraordinary expenses, and acquired fund fees) to the extent Gross Total Annual Expenses exceed 1.10%
for Worldwide Bond, 1.40% for Worldwide Emerging Markets, 1.20% for Worldwide Hard Assets, and 1.10% for Worldwide Real Estate.

The following additions have been made to the table under the Portfolios section beginning on page 15.

Portfolio    Type of Portfolio    Investment Adviser    Subadviser 
 
 
 
Alliance Bernstein Variable Products Series             
Fund, Inc.:             
 
 
 
   International Growth    International Equity    AllianceBernstein L.P.    None 
 
 
 
   International Value    International Equity    AllianceBernstein L.P.    None 
 
 
 
   Small/Mid Cap Value    Small Mid Value Equity    AllianceBernstein L.P.    None 
 
 
 
   Value    Large Value Equity    AllianceBernstein L.P.    None 
 
 
 
DWS Investments VIT Funds:             
 
 
 
        Deutsche Investment    Northern Trust 
   DWS Small Cap Index VIP    Small Index Equity    Management Americas, Inc.    Investments, Inc. 
 
 
 
(Fidelity) Variable Insurance Products Fund II:             
 
 
 
        Fidelity Management & Research     
   Value Strategies Portfolio    Value Equity    Company    FMR Co., Inc. 
 
 
 
Franklin Templeton Variable Insurance             
Products Trust             
 
 
 
   Franklin U.S. Government Fund    Government Bond    Franklin Advisors, Inc.    None 
 
 
 
            Franklin Templeton 
            Investment 
   Mutual Discovery Securities Fund    Value Equity    Franklin Mutual Advisors, LLC    Management Limited 
 
 
 
Neuberger Berman Advisers Management             
Trust             
 
 
 
    Mid Large Value Equity    Neuberger Berman Management,    Neuberger Berman, 
   Socially Responsive Portfolio    Socially Responsible    Inc.    LLC 
 
 
 
Oppenheimer Variable Account Funds             
 
 
 
   Balanced Fund/VA    Hybrid Equity and Debt    Oppenheimer Funds, Inc.    None 
 
 
 
   Main Street Small Cap Fund/VA    Small Value Equity    Oppenheimer Funds, Inc.    None 
 
 
 
   Strategic Bond Fund/VA    Bond    Oppenheimer Funds, Inc.    None 
 
 
 
T. Rowe Price Equity Series, Inc.             
 
 
 
   Personal Strategy Balanced Portfolio    Blend    T. Rowe Price Associates, Inc.    None 
 
 
 
Van Eck Worldwide Insurance Trust             
 
 
 
   Worldwide Bond Fund    Global Bond    Van Eck Associates Corporation    None 
 
 
 
   Worldwide Emerging Markets Fund    Foreign Equity    Van Eck Associates Corporation    None 
 
 
 
   Worldwide Hard Assets Fund    Global Sector Equity    Van Eck Associates Corporation    None 
 
 
 
   Worldwide Real Estate Fund    Global Real Estate    Van Eck Associates Corporation    None 
 
 
 

To participate in Illuminations, an Owner had to satisfy certain premium and Face Amount requirements. In addition,
Illuminations was not available within Qualified Plans. National Life has eliminated those requirements. Therefore, the first
three paragraphs in the section “Optional “Illuminations” Investment Advisory Service” beginning on page 30 are deleted and
replaced with the following:

5

National Life makes available to all Owners, at no cost to the Owner, an optional investment advisory service
which National Life calls “Illuminations”. Under this program, National Life has arranged for FundQuest,
Incorporated (“FundQuest”), a registered investment adviser independent of National Life, to provide an
investment advisory service under which it maintains an allocation of the Accumulated Value of your Policy
among the available options which is suited to your investment objective, financial situation and risk tolerance.

Illuminations will be available under employer-sponsored qualified plans, where variable universal life is
approved for use. This option will be available for all policies issued within the plans. The sponsors and
fiduciaries of qualified plans are responsible to determine whether Illuminations is permissible under the legal
requirements to which the plan is subject.

Please keep this supplement with your prospectus for future reference.

6

Part C: OTHER INFORMATION
 
Item 26. Exhibits 
 
(a)    Resolutions of the Board of Directors of National Life Insurance Company ("Depositor") 
authorizing establishment of National Variable Life Insurance Account ("Registrant") (1)
(b)    Not applicable 
(c) (1)    Form of Distribution Agreement between National Life Insurance Company and Equity Services, 
    Inc (14) 
(c)(2)    Form of Selling Agreement (14) 
(d)(1)    Specimen VariTrak Policy Form (6) 
(d)(2)    Rider for Guaranteed Insurability Options (6) 
(d)(3)    Rider for Waiver of Monthly Deductions (6) 
(d)(4)    Rider for Accidental Death Benefit (6) 
(d)(5)    Rider for Guaranteed Death Benefit (6) 
(d)(6)    Specimen VariTrak (NY) Policy Form (3) 
(d)(7)    Specimen VariTrak (NY - Unisex) Policy Form (3) 
(d)(8)    NY Rider for Guaranteed Insurability Options (3) 
(d)(9)    NY Rider for Waiver of Monthly Deductions (3) 
(d)(10)    NY Rider for Accidental Death Benefit (3) 
(d)(11)    Form of Additional Protection Benefit Rider (8) 
(d)(12)    Form of Long Term Care - Chronic Illness Rider (8) 
(d)(13)    Form of Long Term Care Insurance Rider (10) 
(d)(14)    No Lapse Guarantee Rider (9) 
(d)(15)    Limited Power of Attorney(11) 
(d)(16)    Endorsement to the Payment Options (14) 
(d)(17)    Accelerated Benefits Rider for Terminal Illness (14) 
(d)(18)    Accelerated Benefits Rider for Covered Chronic Illness (14) 
(d)(19)    Endorsement to the Premium Allocation Provision (14) 
(d)(20)    Endorsement to the Surrender Charges Provision (14) 
(d)(21)    Overloan Protection Rider (16) 
(d)(22)    Endorsement to Remove the Maturity at 99 Provision(17) 
(d)(23)    No Lapse Guarantee Rider (Florida) (20) 
(d)(24)    No Lapse Guarantee Rider (Maryland) (20) 
(d)(25)    Rider for Waiver of Monthly Deductions (Pennsylvania) (20) 
(e) (1)    VariTrak Application Form (14) 
(e) (2)    VariTrak (NY) Application Form (3) 
(e) (3)    9212 Life Insurance Application(17) 
(f)(1)    National Life Insurance Company's Charter documents (14) 
(f)(2)    National Life Insurance Company's By-laws (14) 
(g)(1)    Reinsurance Agreement - National Life Insurance Company and xxx, effective September 1, 1997 
    (12) 
(g)(2)    Automatic and Facultative YRT Reinsurance Agreement - National Life Insurance Company and 
    xxx, effective January 1, 2002 (11) 
(g)(3)    Automatic Modified -Coinsurance (Mod-Co) Reinsurance and Service Agreement - National Life 
    Insurance Company and xxx, effective December 31, 1998 (11) 
(g)(4)    Automatic and Facultative Yearly Renewable Term Reinsurance Agreement - National Life 
    Insurance Company and xxx, effective January 1, 2002 (11) 
(g)(5)    Automatic Yearly Renewable Term Reinsurance Agreement - National Life Insurance Company 
    and xxx, effective May 1, 1999 (11) 
(g)(6)    Reinsurance Agreement - National Life Insurance Company and xxxx, effective April 1, 1993 (11) 
(g)(7)    Reinsurance Agreement - National Life Insurance Company and xx, effective October 1, 1994 (11) 
(g)(8)    Mod Co Reinsurance Agreement between National Life Insurance Company and xxx, as amended 
    through September 1, 2002(17) 
(g)(9)    Reinsurance Agreement between National Life Insurance Company and xxx, effective October 16, 
    2001 (17) 
(g)(10)    Reinsurance Agreement between National Life Insurance Company and xxx, effective as amended 
    through June 1, 2002(17) 
(g)(11)    Reinsurance Agreement between National Life Insurance Company and xxx, effective July 22, 
    2002(17) 
(g)(12)    Reinsurance Agreement between National Life Insurance Company and xxx, effective November 1, 
 
7

    2005 (15) 
(h)(1)    Form of Participation Agreement - Alger American Fund, National Life insurance Company and 
    Fred Alger and Company (2) 
    (a) Amendment No. 2 to Participation Agreement- Alger American Fund, National Life Insurance 
    Company dated November 18, 1998 (18) 
(h)(2)    Form of Shareholder Service Agreement between National Life Insurance Company and American 
    Century Investment Management, Inc. (4) 
    (a) Form of Amendment to Shareholder Services Agreement (12) 
(h)(3)    Form of Participation Agreement between National Life Insurance Company and Neuberger & 
    Berman Advisers Managers Trust (5) 
    (a)Form of Amendment to Participation Agreement (12) 
    (b) Amendment to Participation Agreement dated June 2, 2008 
(h)(4)    Form of Participation Agreement between National Life Insurance Company and J.P. Morgan 
    Series Trust II (5) 
    (a) Amendment to the Participation Agreement dated April 16, 2007 (17) 
(h)(5)    Participation Agreement between National Life Insurance Company and The Dreyfus Socially 
    Responsible Growth Fund, Inc. (7) 
    (a)Form of Amendment to Participation Agreement (12) 
    (b) Supplemental Agreement to the Participation Agreement entered into April 16, 2007 (17) 
(h)(6)    Participation Agreement between Sentinel Variable Products Trust, National Life Insurance 
    Company and Equity Services, Inc. (10) 
(h)(7)    Form of Amended and Restated Participation Agreement among Variable Insurance Products 
    Funds, Fidelity Distributors Corporation and National Life Insurance Company (12) 
    (a)Amendment to Participation Agreement dated May 18, 2007 (18) 
(h)(8)    Form of Participation Agreement - National Life Insurance Company, Franklin Templeton Variable 
    Insurance Products Trust and Franklin Templeton Distributors, Inc. (12) 
    (a) Amendment to Participation Agreement dated June 1, 2007 (19) 
    (b) Amendment Number 2 dated October 30, 2008 to the Participation Agreement between National 
    Life Insurance Company, Franklin Templeton Variable Insurance Products Trust and Franklin 
    Templeton Distributors, Inc. 
(h)(9)    Form of Participation Agreement among T. Rowe Price Equity Services, Inc., T. Rowe Price 
    Investment Services, Inc. and National Life Insurance Company (12) 
     (b) Amendment to the Participation Agreement among T. Rowe Price Equity Services, Inc., T. 
    Rowe Price Investment Services, Inc. and National Life Insurance Company dated 9/24/08 
(h)(10)    Form of Participation Agreement - National Life Insurance Company, Scudder Variable Series II, 
    Scudder Distributors, Inc. and Deutsche Investment Management Americas, Inc. (12) 
    (a) Supplemental Agreement to the Participation Agreement entered into March 12, 2007 (17) 
(h)(11)    Form of Participation Agreement - AIM Variable Insurance Funds, A I M Distributors, Inc., 
    National Life Insurance Company and Equity Services, Inc. (13) 
(h)(12)    Form of Participation Agreement – Wells Fargo Variable Trust, Wells Fargo Funds Distributor, 
    LLC and National Life Insurance Company (14) 
(h)(13)    Participation agreement among National Life Insurance Company, Equity Services , Inc. and 
    ALLIANCEBERNSTEIN L.P. AND ALLIANCEBERNSTEIN INVESTMENTS, INC. dated as of 
    September 2, 2008 
(h)(14)    Participation Agreement among National Life Insurance Company and Oppenheimer dated October 
    November 11, 2008 
(h)(15)    Participation Agreement among VAN ECK WORLDWIDE INSURANCE TRUST, VAN ECK 
    SECURITIES CORPORATION, VAN ECK ASSOCIATES CORPORATION and NATIONAL 
    LIFE INSURANCE COMPANY dated December 1, 2008 
(i)(1)    (1) Administrative Services Agreement among National Life Insurance Co. and AIM Advisors, 
    INC. dated April 30, 2004 (18) 
(i)(2)    (2) Service Agreement among National Life Insurance Co. and Fred Alger Management, Inc. as 
    amended through June 1, 1997 (18) 
(i)(3)    (3) Shareholder Services Agreement as amended through May 19, 2004 among National Life 
    Insurance Co. and American Century Investment Management (18) 
(i)(5)    Administrative Services Agreement as amended through November 8, 2000 among National Life 
    Insurance Co. and Dreyfus Corporation (18) 
(i)(6)    Service Agreement among National Life Insurance Co. and Fidelity Investments Institutional 
    Operations Company, Inc. dated April 1, 2000 (18) 
(i)(7)    Sub- License Agreement among National Life Insurance Co. and Fidelity Distributors Corp. 
    effective April 30, 2004 (18) 
 
8

(i)(8)    Administrative Services Agreement among Franklin Templeton Services, LLC and National Life 
    Insurance Co. dated May 1, 2004 (18) 
    (b) Amendment Number 1 dated October 30, 2008 to the Administrative Services Agreement 
(i)(9)    Services Distribution Agreement as supplemented through May 1, 2004 among National Life 
    Insurance Co. and T. Rowe Price Investment Services, Inc. (18) 
(i)(10)    Service Agreement as amended through October 1, 2001 among National Life Insurance Co. and 
    Neuberger Berman Management Inc. (18) 
(i)(11)    Service Agreement among VAN ECK WORLDWIDE INSURANCE TRUST, VAN ECK 
    SECURITIES CORPORATION, VAN ECK ASSOCIATES CORPORATION and NATIONAL 
    LIFE INSURANCE COMPANY dated December 1, 2008. 
(j)(1)    Rule 22c-2 Agreement- National Life Insurance Company and Fred Alger & Company entered into 
    April 16, 2007 (17) 
(j)(2)    Rule 22c-2 Agreement among Aim Investment Services, Inc. and National Life Insurance Company 
    entered into March 16, 2007(17) 
(j)(3)    Rule 22c-2 Agreement among American Century Investment Services, Inc. and National Life 
    Insurance Company entered into October 16, 2006(17) 
(j)(4)    Rule 22c-2 Agreement among Fidelity Distributors Corporation and National Life Insurance 
    Company effective October 16, 2007(17) 
(j)(5)    Rule 22c-2 Agreement among Franklin Templeton Variable Insurance Products Trust and National 
    Life Insurance Company entered into April 16, 2007(17) 
(j)(6)    Rule 22c-2 Agreement among Morgan Stanley Distribution Inc., and National Life Insurance 
    Company entered into March 16, 2007(17) 
(j)(7)    Rule 22c-2 Agreement among Neuberger Berman Family of Funds and National Life Insurance 
    Company entered into October 1, 2006(17) 
(j)(8)    Rule 22c-2 Agreement among T. Rowe Price Services, Inc. and National Life Insurance Company 
    entered into April 16, 2007(17) 
(j)(9)    Rule 22c-2 Agreement among Wells Fargo Advantage Funds and National Life Insurance Company 
    entered into October 16, 2006(17) 
(j)(10)    Data Sharing Agreement among SunGard Institutional Products Inc. and National Life Insurance 
    Co. dated October 12, 2007 (19) 
(j)(11)    Rule 22c-2 Agreement among VAN ECK WORLDWIDE INSURANCE TRUST, VAN ECK 
    SECURITIES CORPORATION, VAN ECK ASSOCIATES CORPORATION and NATIONAL 
    LIFE INSURANCE COMPANY dated December 1, 2008 
(k)    Opinion and Consent of Counsel (20) 
(l)    Actuarial Opinion and Consent (20) 
(m)    Calculation (20) 
(n)(1)    Consent of PricewaterhouseCoopers LLP, Auditors 
(n)(2)    Consent of Sutherland Asbill & Brennan LLP 
(o)    Not applicable 
(p)    Not applicable 
(q)    Redeemability exemption: Memorandum describing issuance, transfer and redemption procedures 
    (17) 
(r)    Power of Attorney (21) 
 
(1)     Incorporated herein by reference to Pre-Effective Amendment No. 2 to Form S-6 Registration 
     Statement for National Variable Life Insurance Account (Sentinel Benefit Provider - File No. 333- 
     67003) filed on February 11, 1999. 
(2)     Incorporated herein by reference to Post-Effective Amendment No. 1 to Form S-6 Registration 
     Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed 
     March 12, 1996. 
(3)    Incorporated herein by reference to Post-Effective Amendment No. 2 to Form S-6 Registration 
    Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed April 
    30, 1997. 
(4)    Incorporated herein by reference to Post-Effective Amendment No. 2 to Form S-6 Registration 
    Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed April 
    30, 1997. 
(5)    Incorporated hereby by reference to nce to Pre-Effective Amendment No. 1 to the Form S-6 
    Registration Statement for National Variable Life Insurance Account (Sentinel Estate. Provider-File 
    No. 333-44723), filed April 16, 1998. 
(6)    Incorporated herein by reference to Post-Effective Amendment No. 4 to Form S-6 Registration 
 
9

    Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed 
    February 26, 1999. 
(7)    Incorporated herein by reference to Post-Effective Amendment No. 4 to Form S-6 Registration 
    Statement for National Variable Life Insurance Account (Sentinel Estate Provider - File No. 333- 
    44723) May 1, 2001. 
(8)    Incorporated herein by reference to Post-Effective Amendment No. 8 to Form S-6 Registration 
    Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed May 
    1, 2001. 
(9)    Incorporated hereby by reference to Post Effective Amendment No. 10 to the Form N-6 Registration 
    Statement for National Variable Life Insurance Account (Varitrak- File No. 33-91938) filed June 
    28, 2002. 
(10)    Incorporated herein by reference to Post Effective Amendment No. 12 to the Form N-6 Registration 
    Statement for National Variable Life Insurance Account (Varitrak- File No. 33-91938) filed 
    February 28, 2003. 
(11)    Incorporated herein by reference to Post-Effective Amendment No. 14 to Form N-6 Registration 
    Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed March 
    1, 2004. 
(12)    Incorporated herein by reference to Post-Effective Amendment No. 15 to Form N-6 Registration 
    Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed April 
    30, 2004. 
(13)    Incorporated herein by reference to Post-Effective Amendment No. 17 to Form N-6 Registration 
    Statement for National Variable Life Insurance Account (VariTrak - File No. 33-91938) filed May 
    2, 2005. 
(14)    Incorporated herein by reference to Post-Effective Amendment No. 18 to For N-6 Registration 
    Statement for National Variable Life Insurance Account (VariTrak- File No. 33-91938) filed May 1, 
    2006. 
(15)    Incorporated herein by reference to Post-Effective Amendment No. 11 to the Form N-6 Registration 
    Statement for National Variable Life Insurance Account (Sentinel Estate. Provider-File No. 333- 
    44723) filed May 1, 2006. 
(16)    Incorporated herein by reference to the Post-Effective Amendment No. 19 to the Form N-6 
    Registration Statement for National Variable Life Insurance Account (Varitrak- File No. 33-91938) 
    filed August 28, 2006. 
(17)    Incorporated herein by reference to the Post-Effective Amendment No. 20 to the Form N-6 
    Registration Statement for National Variable Life Insurance Account (Varitrak- File No. 33-91938) 
    filed May 1, 2007. 
(18)    Incorporated herein by reference to Post- Effective Amendment No. 14 to the Form N-6 
    Registration Statement for National Variable Life Insurance Account (Sentinel Estate Provider File 
    No. 333-44723) filed June 25, 2007. 
(19)    Incorporated herein by reference to Post- Effective Amendment No. 15 to the Form N- 6 
    Registration Statement for National Variable Life Insurance Account (Sentinel Estate Provider File 
    No. 333-44723) filed May 1, 2008. 
(20)    Incorporated herein by reference to the Post-Effective Amendment No. 22 to the Form N-6 
    Registration Statement for National Variable Life Insurance Account (Varitrak- File No. 33-91938) 
    filed May 1, 2008. 
(21)    Incorporated herein by reference to the initial Form N-6 Registration Statement for National 
Variable Life Insurance Account (Investor Select- File No. 333-51535) filed June 9, 2008.

Item 27. Directors and Officers of the Depositor     
 
Name and Principal Business Address*     Positions and Offices with Depositor 
Thomas H. MacLeay     Chair (Director), President & CEO 
 
David Coates     Director 
47 Coates Island     
Colchester, VT 05446     
 
Deborah G. Ellinger     Director 
Wellness/Old Mother Hubbard     
200 Ames Pond Drive     
 
    10 

Tewksbury, MA 01876-1274     
 
Bruce Lisman                           Director 
Bear Stearns Companies     
383 Madison Avenue, 5th Floor     
New York, NY 10179     
 
V. Louise McCarren                           Director 
5736 East Immigration Canyon     
Salt Lake City, UT 84108     
 
Roger B. Porter                           Director 
Center for Business & Government     
Kennedy School of Government     
Harvard University     
79 John F. Kennedy St.     
Cambridge, MA 02138     
 
E. Miles Prentice                           Director 
Eaton & Van Winkle     
3 Park Ave., 16th Floor     
New York, NY 10016     
 
Mehran Assadi    Executive Vice President 
Michele S. Gatto    Executive Vice President - Corporate Services & General Counsel 
Edward J. Parry, III    Chief Financial Officer 
Christian W. Thwaites    Executive Vice President 
Thomas H. Brownell    Senior Vice President & Chief Investment Officer 
Gregory H. Doremus    Senior Vice President - New Business & Customer Services 
Wade H. Mayo    Senior Vice President 
Ruth B. Smith    Senior Vice President – Registered Product & Life Event 
    Distribution 
James K. McQueston    Secretary of the Corporation & Assistant General Counsel 
Shawn W. Bryan    Vice President – Corporate Services Operations 
Robert S. Burke    Assistant General Counsel 
Robert E. Cotton    Vice President & Treasurer 
Ann T. Dehner    Vice President - Marketing Operations 
Matthew L. DeSantos    Vice President – Marketing & Business Development 
Alfred J. Foice, Jr.    Vice President - Audit 
Daniel George    Vice President and Corporate Controller 
Christopher L Graff    Vice President - Communications 
Richard A. Horchler    Vice President – Career System 
Joyce B. LaRosa    Vice President – Finance, Independent Distribution 
Bennett E. Law    Vice President - Policy Forms and General Services 
Carl J. Lutz    Vice President 
Elizabeth H. MacGowan    Vice President – Product Development 
Donald Messier    Vice President - Finance & Strategy, NL Financial Alliance 
D. Russell Morgan    Chief Compliance Officer - Separate Accounts 
Gail A. Prescott    Vice President - Contract Services 
Louis D. Puglisi    Vice President - LEA Distribution 
Craig A. Smith    Vice President & Chief Actuary 
Alfred J. Warburton    Vice President - Corporate Tax 
Peter M. Weinbaum    Marketing Development Vice President 
Gregory D. Woodworth    Vice President and Deputy General Counsel 
Robert J. Riggen    Chief Medical Officer 
Carolyn P. Kittredge    Assistant Tax Officer 
Barbara B. Fitch    Compliance Officer 
Rhonda J. Miller    Assistant Secretary 
Kelly Fournier    Assistant Secretary 
Janet S. Astore    Tax Officer 
Jeffrey M. Kemp    Tax Officer 
 
11

*Unless otherwise indicated, the principal business address is National Life Drive, Montpelier, VT 05604.

Item 28. Persons Controlled by or Under Common Control with the Depositor or Registrant.

A list of all persons directly or indirectly controlled by or under common control with National Life
Insurance Company (“National Life”) is set forth below. All of the stock of National Life is owned by NLV
Financial Corporation, a Delaware corporation. All of the stock of NLV Financial Corporation is owned by
National Life Holding Company, a mutual insurance holding company organized under Vermont law.

National Life owns 100% of Life Insurance Company of the Southwest, a Texas corporation.

NLV Financial Corporation owns 100% of National Retirement Plan Advisors, a Vermont corporation,
NL Group Statutory Trust I, a Connecticut trust; Equity Services, Inc., a Vermont corporation, and Sentinel
Asset Management, Inc. (“SAMI”), a Vermont corporation.

SAMI owns 100% of Sentinel Administrative Services, Inc., a Vermont corporation, and Sentinel
Financial Services, Inc., a Delaware corporation.

SAMI and Sentinel Financial Services, Inc. are partners of Sentinel Financial Services Company, a
Vermont general partnership.

Equity Services, Inc. owns 100% of Equity Services of Colorado, LLC, a Colorado LLC, and Equity
Services of Nevada, Inc., a Nevada corporation.

Item 29. Indemnification

The By-Laws of Depositor provide, in part in Article VI, as follows:

7.1 Indemnification.

(a) The Corporation shall indemnify and hold harmless any officer, director, employee or agent of the
Corporation to the fullest extent permitted under Title 11A, Chapter 8, Subchapter 5 of the Vermont Statutes
Annotated, as the same may be amended from time to time. Any repeal or modification of this Section 7.1 or of
Title 11A, Chapter 8, Subchapter 5 of the Vermont Statutes Annotated shall not adversely affect any right of
indemnification of any officer, director or employee of the Corporation existing at any time prior to such repeal
or modification. Provided, however, that the Corporation shall not be required to indemnify a person in
connection with a proceeding initiated by such person, including a counterclaim or crossclaim, unless the
proceeding was authorized by the Board of Directors.

(b) The Corporation may pay or reimburse the reasonable expenses incurred in defending any
proceeding in advance of its final disposition if the Corporation has received in advance an undertaking by the
person receiving such payment or reimbursement to repay all amounts advanced if it should be ultimately
determined that he or she is not entitled to be indemnified under this article or otherwise. The Corporation may
require security for any such undertaking.

Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to
directors, officers, and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and Exchange Commission such
indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event
that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses
incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any
such action, suit or proceeding) is asserted by such director, officer, or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification
by it is against public policy as expressed in the Act and will be governed by the final adjudication of such
issue.

In addition, the Registrant purchases liability coverage for the Directors and Officers of the Depositor
listed in Item 27 above. This coverage is consistent with industry standards. The cost of the coverage is borne
entirely by the Registrant.

12

Item 30. Principal Underwriter

(a) Equity Services, Inc. (ESI) is also the principal underwriter for National Variable Annuity Account
II.

(b) The following information is furnished with respect to the officers and directors of ESI:

Name and Principal Business Address*    Positions and Offices with ESI    Positions and Offices with Depositor 
 
 
Lance Reihl    President & Chief Executive Officer    None 
 
 
Stephen A. Englese    Senior Vice President    None 
 
 
Gregory D. Teese    Vice President - Compliance & Chief    None 
    Compliance Officer     
 
 
Isabelle Keiser    Vice President    None 
 
 
James Canavan    Assistant Vice President    None 
 
 
Donald Messier    Vice President-Finance    Vice President - Finance & Strategy, 
        NL Financial Alliance 
 
 
Robert E. Cotton    Treasurer    Vice President & Treasurer 
 
 
Ian A. McKenny    Counsel, Broker-Dealer Services    Counsel 
 
 
James K. McQueston    Secretary    Assistant General Counsel & 
        Secretary 
 
 
Rhonda J. Miller    Assistant Secretary    Manager of Legal Administrative 
        Services & Assistant Secretary 
 
 
Kelly Fournier    Assistant Secretary    Executive Assistant & Assistant 
        Secretary 
 
 
Thomas H. MacLeay    Director    Chair (Director), President & Chief 
        Executive Officer 
 
 
Janet S. Astore    Tax Officer    Tax Officer 
 
 
Jeffrey M. Kemp    Tax Officer    Tax Officer 
 
 
Alfred J. Warburton    Tax Officer    Vice President - Corporate Tax 
 
 

*Unless otherwise indicated, principal business address is One National Life Drive, Montpelier, Vermont
05604.

(c) Commission and other compensation received, directly or indirectly from the Registrant during
Registrant's last fiscal year by each principal underwriter:

Name of    Net Underwriting    Compensation on    Brokerage    Other Compensation 
Principal    Discounts and    Redemption    Commissions     
Underwriter    Commissions             
 
 
 
 
Equity Services, Inc.                 $4,479,404                           -0-                 $4,479,404                           -0- 

Item 31. Location of Accounts and Records.

All accounts and records required to be maintained by Section 31(a) of the Investment Company Act of 1940
and the rules thereunder are maintained by National Life Insurance Company at One National Life Drive,
Montpelier, Vermont 05604.

Item 32. Management Services

All management contracts are discussed in Part A or Part B.

Item 33. Fee Representation

National Life Insurance Company hereby represents that the fees and charges deducted under the variable life
insurance policies described in the prospectus contained in this registration statement, in the aggregate are
reasonable in relationship to the services rendered, the expenses expected to be incurred, and the risks assumed
by National Life Insurance Company.

13

14

SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940,
the Registrant, National Variable Life Insurance Account, certifies that it meets the requirements of Securities
Act Rule 485(b) for effectiveness of this registration statement and has duly caused this Post-Effective
Amendment No. 23 to be signed on its behalf by the undersigned thereunto duly authorized, in the City of
Montpelier and the State of Vermont, as of the 1st day of December, 2008.

    NATIONAL VARIABLE LIFE 
    INSURANCE ACCOUNT (Registrant) 
 
    By: NATIONAL LIFE INSURANCE COMPANY 
 
 
 
Attest: /s/ James K. McQueston    By: /s/ Thomas H. MacLeay 
   
             James K. McQueston               Thomas H. MacLeay 
             Secretary               Chair, President and 
               Chief Executive Officer 
 
 
    NATIONAL LIFE INSURANCE COMPANY (Depositor) 
 
 
Attest: /s/ James K. McQueston    By: /s/ Thomas H. MacLeay 
             James K. McQueston               Thomas H. MacLeay 
             Secretary               Chair, President and 
               Chief Executive Officer 

Pursuant to the requirements of the Securities Act of 1933, this Post-Effective Amendment No. 23 to
the Registration Statement has been signed below by the following persons in the capacities indicated on the
date(s) set forth below.

Signature    Title    Date 
/s/ Thomas H. MacLeay    Chair(Director), President, Chief    December 1, 2008 
Thomas H. MacLeay    Executive Officer     
    (Principle Executive Officer)     
/s/Ed Parry    Senior Vice President- Finance    December 1, 2008 
Ed Parry    (Principle Financial &     
Accounting Officer)
Bruce Lisman*    Director    December 1, 2008 
E. Miles Prentice, III*    Director    December 1, 2008 
David R. Coates*    Director    December 1, 2008 
V. Louise McCarren*    Director    December 1, 2008 
Deborah Ellinger*    Director    December 1, 2008 
Roger B. Porter*    Director    December 1, 2008 

* Thomas H. MacLeay signs this document pursuant to the power of attorney filed with the initial Form N-6
Registration Statement for National Variable Life Insurance Account (Investor Select - File No. 333-51535)
filed June 9, 2008.

/s/ Thomas H. MacLeay
Thomas H. MacLeay

15

Exhibit Index
 
(h)(3)    (b) Amendment to Participation Agreement dated June 2, 2008 
(h)(8)    (b) Amendment Number 2 dated October 30, 2008 to the Participation Agreement between National 
    Life Insurance Company, Franklin Templeton Variable Insurance Products Trust and Franklin 
    Templeton Distributors, Inc. 
(h)(9)    (b) Amendment to the Participation Agreement among T. Rowe Price Equity Services, Inc., T. 
Rowe Price Investment Services, Inc. and National Life Insurance Company dated 9/24/08
(h)(13)    Participation agreement among National Life Insurance Company, Equity Services , Inc. and 
    ALLIANCEBERNSTEIN L.P. AND ALLIANCEBERNSTEIN INVESTMENTS, INC. dated as of 
    September 2, 2008 
(h)(14)    Participation Agreement among National Life Insurance Company and Oppenheimer dated 
    November 11, 2008. 
(h)(15)    Participation Agreement among VAN ECK WORLDWIDE INSURANCE TRUST, VAN ECK 
    SECURITIES CORPORATION, VAN ECK ASSOCIATES CORPORATION and NATIONAL 
    LIFE INSURANCE COMPANY dated December 1, 2008. 
(i)(8)    (b) Amendment to the Administrative Services Agreement 
(i)(11)    Service Agreement among VAN ECK WORLDWIDE INSURANCE TRUST, VAN ECK 
    SECURITIES CORPORATION, VAN ECK ASSOCIATES CORPORATION and NATIONAL 
    LIFE INSURANCE COMPANY dated December 1, 2008. 
(j)(11)    Rule 22c-2 Agreement among VAN ECK WORLDWIDE INSURANCE TRUST, VAN ECK 
    SECURITIES CORPORATION, VAN ECK ASSOCIATES CORPORATION and NATIONAL 
    LIFE INSURANCE COMPANY dated December 1, 2008. 
(n)(1)    Consent of PricewaterhouseCoopers LLP, Auditors 
(n)(2)    Consent of Sutherland Asbill & Brennan LLP 

16