Prepaid Legal Reviews
prepaid legal reviews
Is Prepaid Legal Really A Moneymaker Or Just Another Scam?
So, let’s discuss Prepaid Legal and whether or not it is a scam. Let’s examine the business opportunity, the company, and whether or not you can actually make money with them.
Prepaid Legal has been around for almost 40 years and was started by Harland Stonecipher as a result of the legal fees he incurred after a car accident that was no fault of his own. Though he had auto, health and life insurance, he was lacking any kind of ‘insurance’ in the event that he was a victim of a legislative battle. Hence… Prepaid Legal was born.
The company has agreements with top A/V rated law firms in all 50 United States and Canada for the sole purpose of providing the members of the company with unlimited legal consultation on personal and business matters. The law firms get paid quite handsomely on a monthly basis for their legal services (with some firms getting a guaranteed rate of over $1,000,000 per month) – regardless of how many clients they handle. So the incentive for the law firms to service Prepaid Legal members to the best of their ability is quite tremendous.
Prepaid Legal membership plans include services for IRS audit defense, trial defense, motor vehicle defense, preventive legal services, small business services, commercial truck driver services, legal representation for law officers and more.
Now that we’ve talked about what the company is all about, in the immortal words of Jerry Maguire’s Rod Tidwell, “Show me the Money!”
Which brings us to the point of whether or not there’s any money to be made with Prepaid Legal?
They are now one of the largest network marketing companies around with over 1.6 million members. As in other network marketing companies, you can build a down line of associates and receive compensation based on their efforts. You can also receive commissions from other avenues, such a group membership and small business plan sales.
Since they have been established for close to 40 years, they promote a lot of the same old tactics. You start the recruiting process with your warm market, namely family and friends. They also suggest what is called the ‘3 Feet Rule’, meaning anyone within 3 feet of you is a prospect that you should share the opportunity with.
Is there anything wrong with this? Well, in some cases, the answer is a resounding “Yes!”
Reason being, just because someone is your cousin or best friend, or just because someone at Starbucks looks like a ‘business’ type, that does not mean they want to start their own home based business in Prepaid Legal.
There is a misconception among most new associates that just because they enjoy the company and have had success with it that is going to translate into everybody else wanting to do the same. This is just not true.
The truth of the matter is that not everybody is built to start their own home based business, nor does everybody on the planet have the desire to do so. And if you are chasing people that don’t have the mental and physical drive to start a business, you are going to be met with great disappointment and a whole lot of wasted time.
The proper way to build your Prepaid Legal business is to market yourself and your organization so that you’re only speaking with qualified individuals who are looking for an opportunity to start with the company. These are the prospects you want and using technology (particularly the internet) is the most effect and efficient way of doing this.
Now, there is nothing wrong with speaking to people who you know are sharp and driven go-getters, but relying exclusively on that will hinder the growth of your Prepaid Legal business compared to the hyper growth you can experience when you utilize the internet.
And quite frankly, once your Prepaid Legal business starts to grow, the income truly is phenomenal.
And that’s the truth.
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Okay. Prepaid legal…?
I see that there have questions in the past about this and all I’m getting is mixed reviews.
For NON ASSOCIATES : Do you have a prepaid legal plan? What has been your experience with your membership?
FOR SELLING ASSOCIATES: What happens to you if someone cancels an account? Are you charged back for that?
My friend keeps trying to get me to sign up to sell this to people and I want to just make sure that I’m not hurting anyone’s finances with something bogus.
“SCAM ALERT!! BEWARE OF PREPAID LEGAL SCAMS
PrePaid Legal Plans are a Multiple Level Marketing (MLM) Fraud and a Scam.
Why would you pay a monthly fee to talk to a lawyer when most lawyers will talk to you for free? ”
http://www.canlaw.com/prepaidlegal.htm
Check out other websites under sources (below)
I’ve also considered prepaid legal (both as a customer and/or as an associate).
I have remained steadfastly opposed if only because “prepaid” is NOT prepaid. It buys you a discount except for a certain few free “projects” –
“Free consultation by telephone or in the office. Members may call or meet with a panel attorney regarding almost any personal legal matter for up to 30 minutes at no charge. They may consult an attorney as often as they need to, as long as each consultation is about a different matter. Most members’ legal problems are solved through consultation alone.
Free follow-up services. Some problems can be solved by merely having the panel attorney write a letter or make a phone call on the member’s behalf at no charge.
Free document review. A panel attorney will review personal documents, such as, leases, insurance policies or sales contracts at no charge. He or she will also explain the terms of the documents and answer specific questions.
Wills at no charge or for a small fee.
Twenty to thirty percent discount off of regular hourly rates or flat fees on most additional services, such as, real estate closings, traffic tickets and divorces.”
Misguiding customers with the word PREPAID just won’t sit well with me.