How much would Julius's beneficiaries receive after his death, considering the guarantee he opted for?

In the context of segregated funds, a guarantee commonly refers to a specific as-of-date value that is assured to the policyholder's beneficiaries upon the death of the policyholder, regardless of the market performance of the underlying investments. This guarantee is designed to provide a safety net for the beneficiaries.

When Julius passed away, his beneficiaries would receive the guaranteed amount specified in his policy, which in this case is $163,000. This amount is set out in the terms of the segregated fund contract and assures the beneficiaries that they will receive at least this minimum benefit, regardless of any market fluctuations that may have affected the fund's performance at the time of death. This guarantee is a key feature that distinguishes segregated funds from regular mutual funds, where beneficiaries would only receive the current market value of the investments at the time of redemption.

Therefore, the correct answer accurately reflects the benefits provided by the guarantee that Julius opted for. Since the policy includes this assurance, the beneficiaries are entitled to receive the guaranteed amount instead of just the market value or contract value, which could potentially be lower than the guaranteed figure.