Final answer:
A convertibility provision allows you to convert a cash-value policy in the future without having to provide proof of insurability.
Step-by-step explanation:
The correct answer to the question is a. Convertibility provision.
A convertibility provision is a feature in an insurance policy that allows the policyholder to convert a cash-value policy into a different type of policy, such as whole life insurance, without having to provide proof of insurability. This means that the policyholder can make this conversion in the future without needing to show that they are in good health or have any other qualifications.
For example, let's say you have a cash-value policy and later decide that you want to change it to a whole life insurance policy. With a convertibility provision, you can do so without having to go through a medical examination or provide any other evidence of insurability.