A West Des Moines insurance company plans to cut nearly half of its workforce by this time next year. The president of the National Travelers Life Company, says they’re cutting 92 jobs after deciding to no longer offer major medical insurance. James Wallace says it was becoming too costly for the company to continue major medical policies.Wallace says they’re trying to get policyholders lined up with a new company.They’ve signed a deal with another company to offer the major medical coverage to National’s 21-thousand policyholders. Wallace says only 600 of the policyholders are in Iowa. Wallace says they’re also trying to help the company’s employees find new jobs.They’re slowly eliminating the jobs in groups, beginning July 31 and ending next April. Wallace says the employees are also getting a severance package that could be up to a year. He says there are a lot of openings in Des Moines in the insurance industry and National is helping soon to be axed employees in finding a new job. National Travelers Life Company was established in Iowa in 1907.
