Which of the following might be included in an insurance policy's cash value provision?

The inclusion of the option to borrow against the cash value in an insurance policy's cash value provision is a crucial aspect of whole life and universal life insurance policies. This provision allows policyholders to access the cash value that accumulates over time, providing them with liquidity. By borrowing against this cash value, policyholders can obtain funds for various needs—like education, emergencies, or investments—without having to surrender the policy or face immediate tax implications.

Additionally, it’s important to recognize that while the loan may accrue interest, it doesn’t require repayment until the policy matures or is canceled, at which point the outstanding loan amount would be deducted from the death benefit. This aspect makes it an appealing feature for policyholders seeking financial flexibility while still maintaining their life insurance coverage.

The other options do not align with how a cash value provision functions: changing policy benefits isn't typically a feature of the cash value provision, the requirement to keep the policy active pertains more to policy maintenance than cash value, and the assumption of risks by the insurer relates to underwriting rather than the cash value itself.