Final answer:
The individual can convert their $200,000 convertible term life insurance policy into a permanent life insurance policy.
Step-by-step explanation:
For a $200,000 convertible term life insurance policy, the policyholder has the option to convert the policy to a permanent life insurance policy without having to undergo a medical examination or provide evidence of insurability. This means that if the individual wants to change their term life insurance policy into a permanent life insurance policy, they can do so.