Online Financial Tips

MLM Consulting is becoming a common business and it has increased over the years. One of the newest and most promising MLM Consulting jobs is selling legal prepaid insurance. The Internet holds an abundance of MLM Consulting positions, also.

MLM Consulting firms that sell prepaid legal insurance is an excellent way to make a living. If you are looking into making a serious career change because you are tired of the corporate world, then you might consider selling prepaid legal insurance. The benefits of this type of MLM Consulting are amazing. You can work your own hours and be your own boss. Your pay is based on how hard you want to work. The flexibility alone is a fantastic reason to become a distributor of prepaid legal insurance.

Another excellent benefit of the MLM Consulting industry with prepaid legal insurance is that there are different positions that you can work. If you don’t want to sell insurance but you want to find people under you to sell, then you can do just that. You can recruit new distributors all day long and get paid daily for each one of them that you bring into the business. You also have the option of not building up a network of recruiters but just selling the insurance, too.

The amount of money that you can make selling prepaid legal insurance can be unheard of and you wouldn’t dream about it with the job you are in today. Again, your pay is based on how hard you want to work, how many hours each week you dedicate to your business, and which duties you are performing with your business. The opportunity of selling prepaid legal insurance is endless.

Anyone can sell prepaid legal insurance. You don’t have to have a degree or a background in sales. If you are interested in multi-level marketing and you are hesitant because of your background or lack of experience, don’t worry.

Prepaid legal opportunities have training programs for everyone and when you are finished with the program, you will walk away with a certificate of completion. This will certify that you are ready to begin your new career as a prepaid legal consultant and you are qualified. People from all walks of life join the prepaid legal profession.

Now is the perfect time to get in on MLM Consulting selling prepaid legal insurance because this type of insurance has not saturated the market yet and many people are willing to buy it.

Prepaid legal insurance is an excellent idea and favored by many people, especially if they find themselves having many transactions that they need a lawyer with. Legal insurance is just like medical insurance and people want to know that they have a legal representative when they need it. It also eliminates the stress of having to find someone in desperate times.

People pay a monthly fee for prepaid legal insurance and they have a copay upon using the services, just like medical insurance. Now is the time to sell it because society knows how expensive an attorney can be and most people cannot come up with the money for one instantly. The beautiful thing about prepaid legal insurance is that you receive a monthly commission off of people’s monthly payments.

Today, one of the most successful upcoming trends with MLM Consulting is selling prepaid legal insurance. Now is the time to jump in before the market is saturated. The amount of money that can be made in this field is unlimited.

You’ve probably have heard of home equity conversion mortgage or HECM. This was introduced by the government through the Federal Housing Administration as a way to assist senior citizens to secure loans. This is a federally insured government program which makes it easier for senior citizens to use their home equity value in order to take out a loan.

What are the Benefits of a Home Equity Conversion Mortgage?

This federal program is distinct in so many ways. First off, the borrower is not required to pay off the loan on the condition that the home he place as collateral is his primary residence. This is entirely different from a traditional loan where you would be required to give monthly payments. You also place your house at risk because the lender would place a lien over your property.

HECM is completely different. As you withdraw your money from the loan, the amount of your home equity proportionally decreases. What happens if you have completely used up your entire home’s equity? The government’s insurance would sustain your loan so you would still be able to withdraw money from your loan. In fact, you would still be able to receive payment even if your lender goes bankrupt or goes out of business. You don’t actually place your house at risk with HECM. Your real estate title stays with you.

The second unique feature of HECM is the term of its repayment. The terms and conditions of an HECM are pretty convenient and reasonable. The borrower has various terms of payment to choose from which includes opting for equal monthly payments or a line of credit type of payment.

The amount of the loan that a borrower can apply for varies depending on several factors which include:

a. The applicant’s age at the time of the loan application

b. The amount of house equity

c. The limit of FHA HECEM loan in the region

d. Current market interest rates

The drawback, however, to this type of loan is that you may completely diminish your home’s equity that there’d be nothing left for your children. Fluctuating and harsh interest rates may also affect the amount of your loan to the extent that the interest alone could largely decrease your house equity.

Understanding the Requisites of HECM

You actually continue to receive loan payments as long as you comply with the requisites of HECM. In fact, you could continue to receive HECM payments for the rest of your life upon the condition that you continuously comply with the requirements for HECM payment. In order to avail of HECM, however, you should be able to comply with the following prerequisites of home equity conversion mortgage include:

a. The applicant is 62 years old or older

b. He should be the owner of the house

c. He should be actually residing in the house

d. He must have a small mortgage balance

e. He must attend counseling sessions about HECM before he actually applies for a loan

Home Equity Conversion Mortgage continues to gain popularity. Many senior citizens resort to applying for home equity loan as an additional source of retirement fund. It is believe that HECM would soon play a significant role in the lending industry.

No one wants to die. The problem is it really is the one thing that is guaranteed to happen to us at some point. As morbid and negative as it may sound, death is a fact of life. One way to help take some of the pain of this realization away is to find low cost term life insurance. That’s right, a life insurance policy is really something you have no business living without if you have a family. What would happen to your loved ones if something happened to you? You can’t afford to put them at risk, and I’m going to explain how you can eliminate that risk as painlessly as possible.

First a super quick primer on term life insurance. You pick a coverage amount and in return you are charged a monthly premium. As long as you pay your premiums every month, if you die during the term, your beneficiary will receive the policy benefit. If you outlive your term, then the policy simply expires. This is the case with what’s known as a level term life policy. This is by far the most common as you can choose a term from 10 to 30 years. There are policies available known as annual renewal term life policies. These are good for one year, and you have to renew each year.

Now that you know the basics, the next step is to calculate the coverage you need. You can do this easily by adding up your monthly expenses and multiplying those by the period you want your family covered for (i.e. 10 years is 120 months). Then add in any big items you can think of such as your kids’ college education, weddings, etc. Now you have a good ball park figure and you can use this on any of the available online life insurance quote sites, or you can take it to your insurance agent.

With all of the options out there and rates as cheap as they are today, there is no excuse for not having coverage. A low cost term life insurance policy can provide peace of mind that your family will be well taken care of after you are gone. Think about everything your loved ones will have to go through and deal with if they lose you. You do not want to add mountains of debt and financial uncertainty to that list.

Debit card issuance is rising in the United States, according to both Visa and Mastercard. Visa reported a 16.5% increase in debit card issuance last year; Mastercard says debit card issuance rose 10.5% in the same period. Not surprisingly, both credit card associations also reported a substantial dip in credit card transactions and an increase in debit card transactions.

What does this mean to you, the merchant? Well, with more debit cards coming into use, you will see an increase in the number of your own customers that will present a debit card for payment at the register, versus a credit card.

In today’s economy many people have maxed out their credit cards or have damaged their credit and can’t qualify for an actual credit card. Then there is the growing sector known as “The Unbanked”, individuals who are not in the banking system, either by choice or due to credit problems. These people often carry pre-paid debit cards purchased at check cashing stores, etc. They load cash onto the cards and use them just like any bank-issued debit card. The cards carry either the Visa or Mastercard hologram.

Debit cardholders may elect to have you swipe their card as either debit, requiring the customer to enter their Personal Identification Number (PIN), or have you swipe their card as “credit”.

Most merchant normally actually ask the customer, “Debit or credit?” This is not the way to save yourself money on transaction processing costs. As most merchants know, the cost is much less to process a transaction as debit than credit. Debit transactions do not run through the Visa or Mastercard interchange network, and thus bypass their fees. A typical credit card transaction might cost a merchant 1.6% and 20 cents transaction fee. To process that same transaction as a debit, the cost is typically 0.7% and 30 cents. The difference will average roughly $100 savings per $10,000 in sales. ( In this example, 1.6% would represent a transaction at the lowest tier, known as Qualified. If the card has rewards, such as cash back or airline miles, it would run as Mid-qualified at around 2.7% or more. A business or corporate or foreign card at 4% or more.)

So why would you leave the choice of processing to the customer? They don’t care, trust me. What you should be doing every time you take a debit card is swiping it as debit and presenting the PIN keypad to the customer so they can enter their PIN. If you ever get a customer who for some odd reason really prefers to run the transaction as credit, just hit your cancel button and re-swipe as credit. Some pre-paid debit cards do carry a transaction fee to the cardholder for credit swipe transactions and I have met people who incorrectly believed their bank would charge them a fee for a PIN debit transaction.

Being proactive like this can save you thousands of dollars a year, and with debit card use on the rise, processing debit cards properly will become ever more critical.

What’s that you say? You don’t have a PIN keypad? Well, contact your account executive with your merchant processor and order one today. They cost anywhere from $100 to $300 and are often available refurbished.

Many credit card terminals actually have a PIN pad function built in, the customer enters their PIN directly on your terminal keyboard. Check if your terminal does this.

One final remark about the savings by processing a debit card as debit versus credit. Depending upon what your merchant services provider (MSP) is charging you for debit card PIN-based transaction versus credit card, there is a price point below which you may save money by choosing to swipe a debit card as a credit card. Example: You sell ice cream cones. Average sale ticket is $10 for a family’s purchase. To process as a PIN-based debit, the cost to you will be .70% plus 30 cents. That comes out to 7 cents and 30 cents= 37 cents to process as debit. As a credit sale it would be 1.6% and perhaps 15 cents so that comes out to 16 cents plus 15 cents = 31 cents. 6 cents lower that a PIN-based debit sale. Not a big difference for one sale, but multiplied out to a month’s sales volume it amounts to a bit of money you might be wasting. You will have to run your own numbers depending on your own processing costs.

What’s that you say? You don’t know exactly what you are paying to process plastic? Well, you need to find out!

My own company, the merchant services provider for whom I am an account executive, offers a free analysis of your recent merchant account statement. We break down what you pay for all three tiers of credit cards (known as Qualified, Mid-qualified and Non-qualified) as well as the various monthly fees that may be tacked on, and we the, side by side, show you what we propose to charge and what your bottom-line savings could be by switching your merchant processing to us. All in one neat and easy-to-read page. Free. I have looked at many merchant account monthly statements in my time and most can be very confusing to the customer.

We are entering a cashless era in society and the ability to take electronic payments – credit and debit cards, gift and loyalty cards, electronic check processing and more – is a crucial aspect of running your business, and managing the associated costs is just good business.

Pre-Paid legal Services, Inc. is a service network of more than 50 independent law firms in the US and Canada that aim in providing affordable legal services by charging a monthly, semi-annual or annual insurance plan. Once you register with Pre-paid, you gain access to all the established network of attorneys when needed. Benefits include free document reviews, Will preparation, discounts off regular hourly rates and the first 30 minutes of legal advice from an attorney is free. A great feature also included is the Identity Theft Shield which is responsible for monitoring any attempts of identity fraud to your personal information.

Pre-paid advertises by means of a multi-level marketing (MLM) structure and is the only legal service in North America that uses MLM. How it works is for a $49 fee you become an independent distributor. This gives you the rights to market the service plan to others. When you begin selling the idea of Pre-paid Legal Services, Inc., you make commissions based on volume of sales. You also make money by signing up sales reps in your downline and make additional commissions based on you teams cumulative sales volume. Pre-paid’s compensation plan offers advancement incentives as well as “persistency levels” that are used in calculating ones income based on member retention. Also, you are given a company discount when personally using the services you market.

Pre-paid Legal was established in 1972 so its track record has proved that it can stand the test of time. Prepaid Legal Services is worth the money, but you must be very discipline and dedicated if you wish to create significant income as a sales rep. It is definitely worth the money if you plan on just using the legal services.

Pre-paid reported to the SEC in 2005 that under 25% of sales reps sold more than one insurance plan. This means that if you wish to make it big in this MLM, you will have to recruit a team of solid sales reps to generate the volume necessary to see some nice numbers. It is all a numbers game so expect to recruit thousands of people in order to achieve a respectable income.

We all know how important it is to have insurance, whether it is car insurance, health insurance or even life insurance. Did you ever think about legal insurance? Well, that is what Prepaid Legal Services provide.

Harland C. Stonecipher started these services in 1969. He was in an auto accident that left him with huge legal bills. That is when he started searching for any legal defense plans in European legal industry. That is when he found the Sportsman’s Motor Club that offered legal expense reimbursement services as part of their motor club. He decided to start these services and began marketing in 1983. Now the company is in 50 states and Canada. And they market strictly through a network marketing system.

What does Prepaid Legal Services offer? They market legal service plans. They have a network of law firms over the US and Canada. The customer purchases a type of legal insurance that connects them with a law firm in their area. They receive legal services such as document preparation; unlimited attorney consults over the phone, and will preparation, traffic violation defense problems, general trial defense and criminal defense for auto related charges. They also offer identity theft services that can be added to the customer’s package.

This is a program that has a direct sales compensation plan. An Independent Associate will be able to make $50 to 182.50 on every $26 membership sold. When the Independent Associate markets 5 memberships per week, he or she is made a Senior Associate. At that level, the earnings will be $500 per week.

Prepaid Legal Services provide “hands on” experience in how to present the membership with others and help them to see the opportunity in sharing it with others. It works very simply.

1. You will first show the Prepaid Legal Services plan.

2. Sign them up

3. Mail the enrollment form to corporate office to be processed

4. Get paid

As soon as the membership packet is received at the main office, then a commission check is deposited right into your bank account. If you submit new business daily, you get paid daily.

What sets this apart from other direct sales marketing plans is the “daily pay” plans. Commissions, overrides and bonuses are paid on a daily basis. When an associate makes a; $26 membership sale, the company pays out a total of $245.50. The reason they do this is because most members stay with the company over the years.

Building your business is the best way to insure a great income for you if you decide to be a part of this company. When you have 3 legs beneath you and 75 sales, you reach the top level of Executive Director. If you only had 30 associates in your group sell one membership per week, assuming a one-year commission advance, you would be able to earn $975 per week. This is if everyone that purchases a membership stay in the program.

To get started will only be $49. This will include your sales materials; you’re training in the field, Support from your team, support from the Home Office through the Marketing Services Team, access to marketing supplies and online associate services.

Do your research on the Prepaid Legal Services before you decide. Think about how you will find your leads, your marketing plan. Do more in depth research on the marketing plan. Network marketing has statistics of 90% failure rate. Don’t be a part of that 90%.