Why Should I Use PrePaid Legal Services Instead of Other Options?
June 6th, 2010 | Author: weissheiss
If your are aware of you surroundings, you probably know that you could need legal advice at any time. Furthermore, you know that most people decide not to get that advice when they probably should because the legal fees at the time of need can be relatively high. You, on the other hand, are reading this article because you are looking at the concept of pre-paying for any legal services that might come up. So, you ask yourself: “Why should I use PrePaid Legal Services instead of other options?” Let’s look at who the company is, what they provide and don’t provide and how you might even make a business opportunity out of becoming associated with them.
Who is PrePaid Legal Services?
The company itself is a NYSE traded corporation started by Harland Stonecipher in 1972 after his personal experience in a car accident. He began the company after realizing the insurance coverage for his possessions, health, and even life, didn’t cover legal expenses. So, why not form a company that offered that type coverage. The company evolved through tough times in the late ’80′s and early 90′s into one of the fastest growing companies in America (Forbes Magazine) for 5 consecutive years at the turn of the century.
Up until 1980, the company had a small handful of sales people who sold the concept for Harland. However, in 1980 the company was introduced to the concept of multi-level-marketing by Wilburn Smith. That model has sustained them through their tough times and good time up until today.
The Products
It may not be correct as a legal definition to use the term ‘insurance’ when describing the service provided by PrePaid Legal. Rather, for certain kinds of, possibly anticipated, legal services the customer pays a fee similar to a membership fee. Because certain of the 1000′s of associates may not be fully explaining the service, there have been complaints over the years. The key is understanding the exclusions to the services. For instance, it is designed to manage future issues, not existing ones. It also excludes, at least in the State where I live, any kind of instance where the client is impaired by alcohol or drugs. I’m sure there are others. Even so, the people who buy this service and pay their monthly fee consistently, can use their local affiliated law firm for things such as contracts they would normally have accepted in the past at face value. They can use the firm to handle confrontations on various kinds of purchases and for things you wouldn’t normally anticipate but do come up in our litigious society. The firms associated with PrePaid Legal limit the number of hours available each month to the members, but they do offer their services at reduced rates for time in excess of the limitation.
The company also offers a competitive identity theft recovery product called Identity Shield. I have no reason to believe it’s any better or worse than other similar products from reputable companies. You should compare what they offer to those similar products for price and service, if you are only buying this and not the PrePaid Legal flagship product. If you buy both, you may find that you save money because of the combination purchase.
The Business Model – The Opportunity
From the comments above you’ll recall that PrePaid Legal Services uses MLM as its vehicle to bring its products to the market-place. The cost to become an associate at the time of this writing is $49. That qualifies you to offer the same products to others in whatever way you choose, as long as you don’t misrepresent the company. In some States, however, you have to be registered to offer this kind of service. There are only a few states that require that, but be sure to check your State laws to see if you live in one of them.
Of course you’ll probably be instructed on how to market the products by your sponsor. Keep in mind that a very small percentage of the associates are making a living at this. That’s true for any network marketing company. If you want to make a living at it, you absolutely must learn how to use the internet to do so. Remember that there are literally millions of people every day going online to find a business opportunity. If you learn properly, you can have them calling you to join you in your business. Visit my website now, while you’re thinking about it, to see how to do it right at http://www.myboomerbusiness.com.
Posted in 
Tags: