Which insurance provision allows for a limited time to convert from term to whole life insurance?

The Convertible Term Provision is the correct choice because it specifically allows policyholders to convert their term life insurance into a whole life policy without having to provide evidence of insurability, typically within a limited timeframe specified in the policy. This provision is beneficial for those who initially choose term life insurance but later want the lifelong coverage and cash value accumulation associated with whole life insurance. The convertible option is a valuable feature as it provides flexibility for individuals in changing their insurance needs over time.

The other options provided do not accurately capture the standard terminology or provisions typically found in life insurance policies. For instance, the Guaranteed Conversion Option might suggest similar flexibility, but it's not a commonly recognized specific term in insurance literature. Universal Option and Term to Whole Provision may imply a conversion process, but they are not terms generally used in the industry to describe this capability, leading to potential misunderstanding regarding the specific provisions available to policyholders.