The Benefits of Having a Family Life Events Legal Plan

Pre-paid legal services can be a very attractive alternative to hiring a lawyer for many people or companies. If you have a lawsuit, you are victim of scam, fraud and want to file a complaint or if you simply want a lawyer’s advice, you can use your prepaid legal plan fulfill your legal needs.

Prepaid legal plans do exist for both individuals and companies. A prepaid legal service is unlikely to meet the needs of a large company, but it is very appropriate for a small business.

So what are the benefits going pre-paid compared to conventional hire of lawyers?

Benefit Number 1: Cost-Effective Lawyers’ fees are too expensive for most people Prepaid legal plans can take the sting out of hiring a lawyer. Lawyers’ fees are too expensive for most people: you can run bills of thousands of dollars and this is simply out of reach of most working and middle-class families. With pre-paid plans, what you get charged is more in line with what you pay for your health or home insurance. Plans start as low as $9 per month and typically don’t exceed the $30 mark.

Benefit Number 2: Simplicity: There is a number of very complicated set of fees lawyers charge: contingency fees, flat fees, statutory fees and hourly rates. In the case of contingency and statutory fees, you have to get into the intricate details of how these fees are computed - say for a contingency fee how much is the lawyer’s commission? - and their regulatory nature - who regulates the statutory fee and how do I know if these fees are in line with regulatory guidelines?

The other two types of fees can be equally as complex. Increasingly, attorneys choose to incorporate any overheads they incur, like secretarial expenses, parking charges and travel fees into their flat and hourly fees. They can also set a minimum number of billing units, like three tenths of an hour (18 minutes), irrespective of how long it takes them to deal with your problem.

This is just a sample rundown of what might influence the various fees charged by lawyers, other factors and arrangements can apply too. Contrast this with the simplicity in which pre-paid legal services are priced and furnished. The process is simple and straightforward: you sign an agreement to pay a fixed monthly fee and that’s about it. If what you’re looking for is not covered, your plan provider will give you a prior notice of a different billing so that you know exactly how much you will be charged.

Benefit Number 3: Pre-emptive Law: Pre-paid plans offer usually unlimited phone consultation and advice. This aspect of the service can save you a lot of trouble, money and time in the future. Most legal problems you are likely to face in your day-to-day life can be solved if you take the necessary steps in line with the law. With the right advice and consultation with your lawyer, you can detect legal blunders before they occur and hence minimize the risk of litigation and protection.

Benefits of a pre-paid group insurance for a company

Some companies offer pre-paid legal plans as part of the fringe benefits they offer to their employees. One such plan is pre-paid group insurance. This is a low cost service, easily administered and it has a high perceived value for the employees.

The first benefit employers expect from legal insurance plans is increased productivity and efficiency. Today’s employees are interested in a variety of benefits to balance their work with their life requirements. Given that most American household had an issue with law last year that might have led them to hire a lawyer, it’s only normal that a legal benefit would increase employees’ morale and efficiency.

Having legal benefit as part of a work-benefit package can help the company recruit and retain the best employees. In this age of work-benefit hysteria, many prospective employment candidates base their career choices on the set of benefit package provided by employers.

Cost containment is another benefit. With less time and resources to be used for personal matters, the company expects to make significant savings on administrative costs.

Overall, pre-paid legal plans look like an excellent solution to face the majority of your legal concerns.