Career
Waterfield was originally from Calloway County, Kentucky. He was Speaker of the Kentucky House of Representatives 1944-1946. He founded Investors Heritage Life Insurance Company in 1961 and served as its President and Chairman of the Board until his death.
He served under Happy Chandler in his first term and under Edward T. Breathitt in his second.
Clements was later elected to the United States Senate where he served as Senate Majority Whip when Lyndon Johnson was Senate Majority Leader. Chandler then helped defeat Clements when Clements sought re-election to the Senate.
The factionalism continued, as Breathitt defeated Chandler in the 1963 primary for governor before winning the general election. In 1967 Waterfield again sought the Democratic nomination for governor but lost the primary to Henry Ward, who in turn lost the general election to Louie B. Nunn.
Waterfield was a Kentucky delegate to the Democratic National Convention in 1948 and 1956 and helped lead an attempt to secure the Democratic nomination for president for Happy Chandler in 1956.
The primary library at Waterfield"s alma mater, Murray State University, is named in his honor.
