To many, Rogers Communications is not only a popular technological brand, but the very foundation to everyday interactions, both personal and professional. Built and founded by the late Edward Samuel “Ted” Rogers, the Rogers brand remains today a master of the Canadian communications universe.
Rogers’ entrepreneurial triumphs lead to his becoming the second wealthiest Canadian, with a personal net worth estimated at more than $7 billion. The careful strategy that went into Rogers’ financial and estate planning only served to protect and grow his wealth for generations long after he was gone.
Few people plan their deaths as carefully as Rogers did, though few face such a number of physical ailments. Moreover, his father’s untimely death at 38 by a ruptured aneurysm formed much of Rogers’ mindset towards planning. As a part of his wealth strategy, Rogers established family trusts and 12 life insurance policies were taken out on his life, primarily owned by private, family-owned corporations. He updated them frequently, leaving little to fate.
The case exemplifies the benefits of incorporating life insurance into a diversified plan, making it central to the management of the Rogers family’s financial needs. Managing Partner at Integrated Estate Solutions and specialized tax advisor to the Conference for Advanced Life Underwriting (CALU), Kevin Wark provides an overview of Rogers’ estate planning strategy. You can read his article, featured in Forum Magazine here.