Mrs. Lee, a 55-year-old accountant in Manitoba, purchased a Critical Illness (CI) policy five years ago with a Return-of-Premium on Surrender rider. She has paid total premiums of $20,000. She decides to surrender her policy today, having never made a claim. What is she entitled to receive?

Question: Mrs. Lee, a 55-year-old accountant in Manitoba, purchased a Critical Illness (CI) policy five years ago with a Return-of-Premium on Surrender rider. She has paid total premiums of $20,000. She decides to surrender her policy today, having never made a claim. What is she entitled to receive?

Answer options:

• A portion of her premiums based on the policy's cash surrender value, which may be less than $20,000. ✅ The full $20,000 in premiums paid.
• The full $20,000 in premiums paid, plus accrued interest.
• Nothing, as there was no critical illness claim.

Correct answer: The full $20,000 in premiums paid.

Explanation: A Return-of-Premium on Surrender rider in a CI policy typically allows the policyholder to receive 100% of the premiums paid back if they surrender the policy after a specified period and no claim has been made. The specific percentage returned and the timing vary by policy.