Should You Buy A Prepaid Legal Services Plan

Prepaid legal services plans work in a variety of ways. Depending upon the plan, features may include some of the following:

Discounts on legal services through a network of attorneys;

Free legal services, such as the preparation of a property deed or simple will; and

Access to a database of legal forms and documents.

One of the major legal services plans reports that more than half of new subscribers drop out of the plan after their first year. This suggests that many people either obtain a prepaid services plan only when they need it, or don't find the benefits to be worth the price.

When you consider a plan, pay careful attention to what the plan does and does not cover. If you don't anticipate having legal needs in the coming year which will be covered by the plan, you should think carefully before purchasing a plan. Similarly, if you think that you might take advantage of a service under the plan, such as the preparation of a simple will, be aware that attorneys who accept the plan will likely try to sell you an upgraded service. In some cases, it will make sense to obtain the upgraded service but there may not be any cost savings as a result of plan membership.

Also, if you find that you don't like the attorney available through your plan, you may find that you are unable to change attorneys through the plan, or that there are no other attorneys in the area who participate in the plan. You may wish to inquire as to the identities of local attorneys who accept the plan before making the decision to purchase any given plan.

The most clever use of a prepaid legal services plan I have heard about was by a real estate agent, who found a plan that covered the preparation of a deed for a real estate transfer. He would have his clients sign up for the plan, and they would then obtain the deed through the plan's attorney. The cost of the plan was significantly less than the attorney would otherwise charge for the deed. On top of that, the real estate agent received a commission on each plan sold. The clients typically cancelled the policies after the first year. While not every situation or plan is amenable to such clever use, this example does illustrate that a well-chosen prepaid legal services plan can benefit a consumer with a known legal need.

If you are purchasing a plan through an independent representative, as opposed to directly from the corporation that sponsors the plan, you should pay special attention to the written language of the plan as opposed to any promises made by the representative. Plans which sell through multi-level marketing may refuse to take responsibility for any false promises made by an independent representative, who may well be primarily motivated by earning a commission rather than your best interests.

You may be eligible for a prepaid legal services plan through your employer. If not, you may wish to look at plans endorsed by or sponsored by a reputable organization, such as the American Bar Association. Similarly, your regional Better Business Bureau may be able to provide you with consumer information about particular plans.

Should You Sell Prepaid Legal Services Plans?

Some prepaid legal services plans solicit members of the public to sell the plans, through multi-level marketing programs. Most people who participate in multi-level marketing do not enjoy the experience and drop out. Some people seem to have a natural inclination toward that type of marketing and to network sales, and thus may find this type of program to be attractive. As the example of the real estate agent, described above, indicates, there may be a natural niche in your business where selling prepaid legal services plans can benefit both you and the buyer, and it may be a good adjunct to your regular business activities.

While typically charging for the privilege of selling their plans, some plans which engage in network marketing report that more than half of their associates do not sell even a single plan. Be very careful about paying for the opportunity to participate in any multi-level marketing scheme, as often the largest profits are in the sale of the opportunity as opposed to the product ostensibly being marketed through the scheme.

If you search the Internet, you will find a lot of information about prepaid legal services plans, and complaints by former sales associates and customers. It will be up to each individual to make that decision. Pre Paid Legal Services, Inc, can be a significant way to make money at home, but the key to this process will be the desire, committment and determination put forth to accomplish set goals.

6. Pre Paid Legal Inc

PrePaid Legal's 2005 numbers are in. Note that 666,595 memberships were sold in 2005, and yet net gain in memberships for 2005 were less than 70,000 (from 1,424,707 at the end of 2004 to 1,490,847 at the end of 2005). This means that roughly 600,000 memberships were cancelled in 2005. 242,223 sales associates were recruited in 2005 (more than a 1/3 the number of memberships sold) as opposed to 107,552 recruited associates in 2004. On the other hand, 666,595 memberships were sold in 2005, compared to 599,929 in 2004. In other words, roughly 135,000 more assiociates were recruited in 2005 than in 2004, and roughly 70,000 more memberships were sold in 2005 than in 2004.

During the 1st quarter of 2007, new sales associates enrolled decreased 37.6% compared to the first quarter of 2006. Memberships produced decreased 2.2% and new membership fees written decreased 7.5% and our active membership base increased slightly by 8,368 memberships compared to the comparable period of the previous year.

A growing number of Americans are using prepaid legal services plans as a cheaper way to obtain legal advice, a trend creating more business for local law firms.

Under these plans, which generally cost $9 to $25 a month, basic services typically include legal advice and consultation by telephone, review of simple legal documents, preparation of a simple will and short letters or phone calls from a lawyer to an adverse party. Other plans offer more comprehensive coverage for trials, marital problems, bankruptcy and real estate matters.

Although it does not endorse any particular provider of these plans, the American Bar Association supports the concept, said Alec Schwartz, director of the American Prepaid Legal Services Institute in Chicago, an affiliate of the ABA.

7. Pre Paid Legal Services

Pre-Paid Legal Services, Inc. develops, underwrites and markets legal service plans through a network of more than 50 independent law firms across the U.S. and Canada. The plans provide for legal service benefits, including unlimited attorney consultation, letter writing, document preparation and review, will preparation, traffic violation defense, automobile-related criminal charges defense and a general trial defense. The Company also markets an identity theft monitoring and restoration product. The company is traded on the New York Stock Exchange (NYSE) under the ticker symbol PPD. Pre-Paid Legal Services, Inc. is a member of the S&P 600 SmallCap index and the S&P 1500 Super Comp index.

Pre-Paid Legal Services began on July 11, 1969 when CEO and founder Harland C. Stonecipher was involved in a vehicle accident which left him with legal bills. He began researching the industry of European legal expense plans. On August 8, 1972, Harland Stonecipher created Pre-Paid Legal’s predecessor, The Sportsman’s Motor Club, offering legal expense reimbursement services as a motor service club. Pre-Paid Legal started selling plans through network marketing in 1983. Pre-Paid Legal went public on the NASDAQ National Market System in 1984, and two years later moved to the American Stock Exchange. On May 13, 1999, Pre-Paid Legal moved to the New York Stock Exchange, and within four months was listed as the 33rd fastest growing company on the NYSE, according to Equities Magazine.

Plans are sold by independent associates and can be purchased either by a one-on-one basis or in a group setting as the plans may be provided as an employee benefit. All plans are non-contractual and may be purchased on a monthly, semiannual, or annual basis.

Pre Paid Legal Services assists people with questions concerning legality for a nominal fee, while also giving the average person a chance to make money with a home business by sharing the services with others.

8. Pre Paid Legal Services

Pre Paid Legal Services

This business has been designed so that ANYONE with a sincere desire for success can do it - regardless of background or experience.

What if I don't have a sales background?

This is a business about showing, not selling. Marketing Pre-Paid Legal is about sharing the membership with those you talk with every day. As a Pre-Paid Legal Independent Associate, you'll more than likely find your efforts directed more at educating and explaining the service rather than convincing people to buy something they feel they may not need.

Regardless of your background or education level, this is a business that can work for you. Pre-Paid Legal Associates come from all walks of life and professional backgrounds...

Education

Real Estate

Direct Sales

Advertising

Insurance

Accountants

Law Enforcement

Printing

Stay-at-home Parents

Postal Employees

Students

And others...

Will I receive support and training?

YES! Our Certified Field Training program is designed to give you "hands on" experience in learning how to present the membership and share the opportunity with others.

What would I actually be doing?

A number of marketing options are available to fit your lifestyle and schedule, but in a nutshell:

You show others the Pre-Paid Legal plan.

You sign them up.

You send the enrollment to the corporate office for processing.

You can get paid every day. 1

When the membership information is received, commissions are deposited into your bank account. This is not another "get rich quick" scheme. But, if you submit new business every day, you can get paid every day!

Commissions are paid daily as membership sales are made. Daily direct deposit is available upon request.

9. Prepaid Legal Inc
Prepaid Legal

10. Prepaid Legal Services Inc

Prepaid Legal Services, Inc

Identity Theft Fact or Fiction

Dateline NBC ran and a two hour special on identity theft showing how serious losing someone’s identity can be. Most people are in denial thinking that “it can’t happen to me”.

Doctor Raymond Jewell says “The stealing of one’s identity can be very serious and costly. The national numbers of identity theft is around $2 billion stolen each year. That is only the tip of the iceberg, cloning someone’s identity is where the problem really lies. What does cloning someone’s identity mean?

You could be going through life as if nothing ever happened and there could be another person with your identity going through life running up debt which you are responsible for. If there are more than one of you and your being responsible and they’re not that they are placing an incredible burden on your financial world that you are responsible for.”

Identity Theft Shield is serious and factual. It does happen to the most unsuspecting people.

There is a solution and that is to get Identity Theft protection, so that other people are watching out for you. There are a few places where you can get good identity theft protection, but I think the best is Identity Theft Shield, a product from PrePaid Legal services.

The cost is less than 39˘ a day but the protection is priceless! Do not be a casualty and the $2 billion number, protect yourself. With Identity Theft Shield you will not have to worry sense into anything happens they will do the work for you, where other companies will not. Therefore if anything were to happen you would not have to take time out of your busy schedule to correct it.