Consumer loans and Insurance are both areas we will work with for most of our adult lives and both are used synonymously in many cases. For example, when you take out a mortgage, the bank will require Homeowners insurance and when you finance a car, you will be required to show proof of car insurance before being allowed to drive the car off the dealer lot. One area where insurance s optional for most people is life insurance. Discuss the pros and cons to having life insurance, how your needs for life insurance may change as your life changes (everts such as marriage, having children, retirement), and which is a more practical choice; whole-life insurance or term-life insurance?