Final answer:
The provision that may be added to a permanent life policy, at no cost, to ensure it does not lapse as long as there is cash value is the automatic premium loan provision.
Step-by-step explanation:
In a cash-value (whole) life insurance policy, the provision that ensures the policy will not lapse as long as there is cash value is called the automatic premium loan provision.
This provision allows the insurer to use the cash value of the policy to pay premiums, in case the policyholder fails to make timely premium payments.
The automatic premium loan provision ensures that the policy remains in force, avoids lapsing, and continues to provide coverage.