Prepaid Legal Plan
prepaid legal plan
Types of Legal Plans
Types of Legal Plans
A prepaid legal plan is a scheme based on the payment in advance of a set
fee to defray the cost of providing future legal services to the members
enrolled in the scheme. They vary in cost, scope of legal coverage provided
and how the legal services are provided. We will look at the different
types of pre-paid legal plans available in the United States and how to
enrol into them
An individual pre-paid legal plan is readily accessible to the general
public. There are two types of individual plans: access and comprehensive.
An access pre-paid legal plan is the most basic plan. It is designed to
give easy access to lawyer and a set of simple legal services for a low
cost. Basic services furnished include unlimited toll-free phone access to
your attorney for consultation and advice, letters written by the lawyer on
your behalf, brief office consultation and the drafting or review of simple
legal documents.
Complex legal issues not covered will be subject to an hourly or flat rate
negotiatable with your provider
The comprehensive plan goes beyond basic legal services, to offer more
complex and comprehensive coverage for a premium in cost. Generally, all
the benefits of an access plan are provided at no cost to you, plus a
broader range of services like drafting complicated legal documents,
negotiations with adverse parties, legal representation in court cases such
as divorce and child custody. They also cover all the costs involved in a
legal litigation. Comprehensive plans typically start at $300 per year and
are most beneficial to middle-class families.
A group legal plan is typically sponsored by an organization as a fringe
benefit to its members. The lawyer or law firm contracted provides free or
low-cost legal coverage to all members of the sponsoring organization.
Employers, labour unions and even universities are now increasingly
offering group legal plans to enhance the value of their benefits package
and reduce the cost of administrative burden. Law firms are contracted to
provide participating members telephone and office consultation for their
most frequently needed legal matters. These typically include: Preparation
of wills and trusts, document preparation and review, debt and real estate
matters and family law.
Additional legal coverage can be contracted according to a fee schedule
negotiable between the plan sponsor and provider, and publicised to
participating members.
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Pre Paid Legal Plan
pre paid legal plan
The Disadvantages of Pre-Paid Legal Services
Pre-paid legal plans are promoted under the promise of cheap legal coverage, an attractive alternative to the high fees charged by regular attorneys and law practices. But under the gloss of accessible legal services for the general public, lie a number of limitations.
First, there is a limit on the scope of the legal services provided. Most of what is provided on an unlimited-basis is phone based: calls to your attorney for advice and consultation on legal matters, or phone calls made on your behalf to third parties. Other benefits bundled in the plan are limited: regular visits to your attorney’s office is restricted to a dozen or so hours per month, the wills you want drafted or sample contracts reviewed will be carried out on two or three copies per year. More complex legal matters involving more time and effort on the part of your attorney are not provided outright. If you need representation in a court for a lawsuit on the recovery of damages, or a complex lease contract reviewed and approved, then you have to pay regular lawyer fees. Some discounts of up to 25% apply, but you could get the same discounts if not better by the simple virtue of simple negotiations and clever comparison shopping. Second is the restriction on your choice of attorney and the quality of legal work provided. Although you are free to choose your own attorney, client-lawyer relationship and the building of rapport are harder to come by in this scheme.
Pre-paid legal plans are fraught with the “rookie” syndrome: the providers usually resort to employing newly-licensed or trainee attorneys in a cost-cutting exercise. Someone who does mostly wills, trusts and sample contracts is probably not a good fit for a more complex legal issue like the custody of children. In this day of age of increasing specialisation, it is better to ask someone with specialised knowledge and years of experience then it is to rely on a novice with a limited professional track-record.
If you go down the traditional way, then there is restricted “pool of attorneys” you can choose from. Your research will be easier and a lot more comprehensive. You can set up interviews with lawyers, ask for referrals from friends, previous customers or check your local bar association. You are more likely to get a top-notch lawyer with who to build rapport get competent advice and trust the judgement.
Hi,I want to Know about the Prime lending rate set by the RBI.?
basically I need to know about the prime lending rate set by the rbi.
here a home loan was availed on Jan-2007 which was offered at a variable rate of 9.5% (+-3.5% of the PRI) from HDFC.Over these months I have been paying the Pre-EMI as the final disbursement was not done.Now I received the final disbursement also.But I was asked to pay at a rate of 10.75%.
I ringed up a bank official and he was saying the PRI has been revised by the RBI during the period.Now I am not sure aboyt that. So any one please clear me on
1. Whether the PRI is revised,
2.What is the Current PRI.
3.Can the bank rise the EMI without informing the customer.
I am planning to sue the bank if they are not going as per the rules.
Appreciate if the legal details are provided.
Thanks ..
But the thing is ,in the document it is -3.5 %of the PLR.
The PLR is 13.25. But they are asking for 10.75. that is why the confusion arises,
so it should be 9.75 right?
and of course it is a floating one
You can get the full details of PLR on the website of RBI. If your EMI is based on the floating rate then you can not sue the bank for increasing the EMI. The bank does not have any legal binding to inform its customer for change in EMI once RBI declares the interest rate revisions. If your EMI is based on fixed rate system, no bank can change your EMI. Please check your loan documents before taking action against bank else bank will recover legal expenses from you. I will advise you to read your loan documents carefully once again and understand the contents.
Hyatt Prepaid Legal
hyatt prepaid legal
Hyatt Legal Plan-A Popular Group Legal Plan Choice
Although there are a number of legal plans available, there are only a few major players in the legal plan services field. Hyatt Legal plans, a wholly owned subsidiary of MetLife, is a major provider of group legal plans in the workplace. Group legal plans have become a standard employee benefit, and offer low cost legal assistance for employees that is deducted automatically from their payroll check. If you are an employer or an employee, you may want to consider utilizing a Hyatt Legal Plan.
Employer offered legal plans have risen in popularity over the last decade or so. As more people have become familiar with a legal service plan, companies have made these plans more available. Legal plans are attractive to employers because they have have tangible benefits, but do not have high administrative costs for the company. For a low monthly fee, which is withdrawn directly from their paycheck, an employee can have access to an attorney, and receive both complimentary and reduced price services. While a legal plan is something an employee may not purchase on their own, having it directly available to them is an added benefit. This in turn, contributes to a more stable work environment, as the employee will have help with any legal problems that might affect their job performance.
Although the Hyatt legal plan is available individually, it is only offered in a limited amount of states. The primary focus for the plan is as a group benefit directly to companies. These plans service nearly three million employees and related family members, and have a network of more than 9,000 attorneys. In addition to the attorneys, Hyatt legal plan also has customer service representatives available to assist with information about plan benefits.
Group plan coverage addresses a variety of legal issues, and provides comprehensive support on a variety of legal issues. Typical plan services of will and trust preparation, general telephone consultations, and document review are covered, but group plans offer assistance in a wide variety of other areas. Some of the the services in a group plan include assistance with traffic court, debt matters, and estate planning.
Some group legal plans may have limitations or exclusions, such as employment or company related matters where the employee has a conflict with the company they work for. If you are an employee using a group legal plan, its important that you are aware of any exclusions or limits a coverage that may exist. Also, you may have to pay extra for additional plan services.
Having a group legal plan can be an additional benefit for an employee. If you are an employer, you may want to consider offering a Hyatt Legal Plan to your employees, as they offer a wide variety of legal benefits at a low monthly cost. Group legal plans provide can be a valuable asset to your benefit options.
About the Author
Amy Wells writes about consumer legal issues. Need legal assistance?
Considering a prepaid
legal plan? Get insider tips and resources about prepaid legal plans at : http://www.legalplan.yourtechtool.com
Which is better? Hyatt Legal Plans (aka Met Law) or Prepaid Legal?
My question is relating to me being a customer and not a sales associate. I have noted there are many negative comments about Prepaid Legal on Yahoo Answers, but I absolutely love them and have had nothing but positive experiences with them in multiple states. I would particularly like to hear from someone that has used both. Prepaid Legal is $26 per month (higher level plan) and Hyatt is being offered by my employer at $18 per month. I don’t want to switch just because it is cheap – I want the best product and best customer service. Thank you.
Since you are on the $26 plan rather than the Comprehensive plan (offered to large employers) the coverage areas are a bit different. The way the services work are completely different no matter which PPL plan you have. Obviously you are familiar with the way PPL works as far as them having 1 provider lawfirm in your state and a referral network if you need local representation or need to hire an attorney for more in depth work under the 25% discount. The way Hyatt works is you call them and they refer you to an attorney. You then call the attorney’s office and schedule an appt. to meet with the attorney (much less convenient that the way PPL works). Depending on the area you are in they may or may not have many attorneys in your area and may not have attorneys who specialize in the field you need. In my area Hyatt only has 3 firms and they are all general practice. I prefer the specialized attorneys I get with PPL. If they do not have an attorney in your area that can handle your situation you’ll end up having to drive for a while or paying for an attorney out of pocket and submitting a claim for partial reimbursement if the services are covered under the plan. PPL demands excellent customer service from it’s provider lawfirms. That does not appear to be the case with Hyatt. I have also heard of Hyatt attorneys charging plan members, a small amount of course, for services that should have been covered 100%. Overall I don’t think Hyatt even comes close to PPL
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