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Pre-Paid Legal Services®, Inc. was one of the first companies in the United States organized solely to design, underwrite and market legal expense plans. For a low monthly fee of $26 or less, the Company's legal expense plans (referred to as memberships) offer a variety of legal services in a manner similar to medical reimbursement plans or HMOs.
The Company currently provides legal services to over 1.5 million families across the U.S. and Canada. Plan benefits are delivered through a network of independent provider law firms. Members have direct, toll-free access to their provider law firm rather than having to comb through a yellow-page style directory for a referral. Provider firms are carefully selected and the quality of service is closely monitored to maintain the high standards of Pre-Paid Legal. Prepaid Legal Articles:
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:
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Discounts on legal services through a network of attorneys;
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Free legal services, such as the preparation of a property deed or simple will; and
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Access to a database of legal forms and documents.
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. 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.
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. 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.
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