Which one of the following describes the convertibility provision in a life insurance contract?

A. The insured is guaranteed the right to exchange a term insurance product for a permanent insurance product only in the event of disability.

B. The insured may exchange a permanent insurance product for a term insurance product without providing evidence of insurability.

C. The insured may exchange a term insurance product for a permanent insurance product without providing evidence of insurability.

D. The insured may exchange an annually renewable term insurance policy for a 30-year level term policy without providing evidence of insurability.