Question 5Catherine purchased a segregated fund 12 years ago with a 10-year maturity and deathbenefit guarantee. She has conducted no transactions since then, and when she looksat her annual statement, she realizes that the market value of her fund is higher than theguarantee. She starts checking her annual statements of previous years and realizes forthe first time that the market value in the 10th year was below the guarantee to whichshe was entitled.Is Catherine entitled to the guarantee top-up for the 10th year of the contract?a) Yes, it was automatically deposited in her accountb) Yes, but it will be paid only on expiration of the contractc) No, because it's too late to claimd) No, there was no disposition to this effect.

Catherine purchased a segregated fund with a 10-year maturity and death benefit guarantee 12 years…

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