---
title: Legal & Financial Planning — Life Insurance & Risk Management
scope: TODO_SCOPE
covers:
- trust
- able
- guardianship
- estate
not_covered: []
sources:
- 20260719_Tyler_Davidson_Financial_Picture
last_updated: '2026-07-19'
token_estimate: 286
parent: https://fwmparents.org/resources/legal-financial-planning/index.md
---

# Legal & Financial Planning — Life Insurance & Risk Management

- "Insurance isn't just about coverage — it's about protecting years of planning from life's biggest risks" — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

- **Term life** (cheapest, covers a set period like a mortgage), **permanent life** (needs that never go away — burial, the child's lifelong care), **second-to-die** (covers two people, pays at the second death, often funds the SNT — but consider a first-death benefit if one spouse is the breadwinner or primary caregiver), **child riders** (~$25K of coverage without underwriting), and **long-term care hybrid** (early access to the death benefit for home healthcare or nursing care) — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

- Don't overlook short- and long-term disability coverage during your working years, plus personal lines (home/auto/umbrella) customized for home modifications, medical equipment, and accessible vehicles — *[Tyler Davidson, Jul 2026](https://fwmparents.org/sessions/20260719_Tyler_Davidson_Financial_Picture/notes.md)*

---

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