I played in a men’s group golf tournament recently — about 70 guys, random pairings, the usual mix of competition and small talk.
And somehow, out of everyone there, I got paired with someone I hadn’t seen in years.
Not just an old friend. My very first client.
We laughed about it walking to the first tee.
I was 20 years old when we first met. Just getting started in the financial services industry at Northwestern Mutual. Equal parts confident and completely figuring it out as I went, selling life insurance to anyone willing to give me a shot.
He did.
A small whole life policy. A $250,000 term policy. Around $50 a month all in. For two guys in our early twenties, that wasn’t insignificant — $50 a month felt like a real commitment.
Then life did what life does. Careers, moves, families. We lost touch.
So somewhere around the third or fourth hole, I asked him:
“Hey… do you still have that policy?”
He didn’t smile. Didn’t hesitate.
He looked at me and said:
“That was one of the best decisions I ever made.”
I laughed — assuming he was giving me a hard time.
He wasn’t.
He told me he’d been diagnosed with Crohn’s disease. And when he went to apply for additional coverage later — when he actually needed more — it wasn’t simple anymore. It was expensive. It was limited. In some cases, it wasn’t even an option.
Now he has two kids. And his perspective is completely different.
“I just wish I would’ve bought more when I was young and healthy.”
No one wakes up excited to buy it. It’s invisible when it works. And most of the time, you hope you never need it.
But standing on a golf course that morning, talking with someone whose life had actually changed, it hit me again:
We’re not just talking about policies. We’re talking about preserving future options — about locking in the ability to qualify for coverage at a moment in time, before life introduces variables you can’t control.
Because the truth is simple: You don’t get to choose when your health changes. You only get to choose what you do before it does.
Most people don’t think about insurability — the underwriting determination of whether, and at what cost, a carrier will issue you life insurance — until something forces them to. A diagnosis. A new prescription. A change in family medical history. A routine bloodwork result.
By the time those things happen, the conversation is fundamentally different. Premiums are higher. Coverage is narrower. Sometimes the door is closed entirely.
And here’s the part that surprises clients most: the variables that affect insurability aren’t always the dramatic ones. Sleep apnea. A managed thyroid condition. Anxiety medication. Being a few pounds heavier than the rate class allows. None of those are character flaws — they’re just life. But each one can change what coverage looks like, or whether it’s available at all.
The same timing principle that mattered for my friend on that golf course matters for business owners too — usually with bigger numbers attached.
If you own a company, your insurability isn’t only a personal-planning variable. It’s a business-continuity variable.
Key person coverage — meant to position a business against the financial loss of a key leader — depends on the insurability of that key person at the moment the policy is written, not at the moment the business decides it needs it.
Buy-sell agreements — the documents that govern what happens when an owner exits, dies, or becomes disabled — only work if they’re actually funded. And funding them often means life or disability insurance on each owner. If one of those owners has a health change before that funding is in place, the math of the buy-sell breaks the day it’s needed most.
In other words: the same window of insurability that closes on individuals also closes on the people whose names are on the company. That’s why we look at personal and business coverage together rather than as separate conversations.
For my friend, that $50-a-month decision twenty years ago wasn’t a financial transaction. It was timing. It was a window of insurability he didn’t know he was walking through.
That’s why a thoughtful Life Insurance Gap Analysis isn’t just about the size of a death benefit. It’s about understanding three things together:
That third piece is the one most plans skip. And it’s usually the one that matters most.
At Gatewood Wealth Solutions, our Firm-to-Family® approach treats insurance the way we treat every other part of a household’s plan: as part of the full picture, not a stand-alone product. Coverage isn’t pitched; it’s analyzed. Need is calculated, not assumed. And the timing question — when, not just how much — is part of every conversation.
On the personal side, our team helps align life, disability, and long-term care coverage with your broader plan, so the household can navigate life’s key moments with greater confidence.
On the business side, we help owners think through key person coverage, buy-sell funding, and comprehensive risk strategy — the work that keeps the business itself stable when one of the people inside it isn’t.
If it’s been a while since you’ve reviewed your coverage, or if you’ve been meaning to talk with your adult kids — or your business partners — about theirs, this is the kind of conversation worth having now. While the door is still open. While the options are still yours to choose from.
Because that $50-a-month decision my friend made twenty years ago? It wasn’t really about the policy.
It was about timing. And for him — and his family — that timing changed everything.
Important Disclosures:
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. Gatewood Wealth Solutions and LPL Financial do not provide legal or tax advice or services.
This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. Guarantees are based on the claims paying ability of the issuing company. For information about specific insurance needs or situations, contact your insurance agent. You may also visit your state’s insurance department for more information.