What Would Be the Importance of a Guaranteed Renewability Clause

What would be the importance of a guaranteed renewability clause in your policy?

A) It will allow you to renew your insurance even if you have suffered a major health problem.
B) It will allow you to renew your policy at the same premium rate.
C) It will allow you to change the policy to a permanent policy at any time.
D) It will allow you to waive your premiums if your health problems have made you unable to work.