Is Pre-paid Legal Worth Offering As an Add-on to Any Type of Insurance?

[IDsaver]

I had PPL for awhile, was useful then, but daughter's an attorney now.

Having a family member who is a lawyer can be a mixed blessing. They might warn you to avoid a legal problem, or referr you to a lawyer who specializes in your problem.

Medical care is so complex that many doctors refer you to a specialist , rather than risk a malpractice lawsuit or literally losing a patient. A foot doctor might refer you to a brain cancer surgeon TEAM, but would you want the podiatrist doing brain cancer surgery for you?

Insurance is also that complex and specialized. That's why you have to be tested and licensed to sell securities.

For many years, lawyers have been specialized. Larger firms with a large client base can have specialists in a larger number of fields. Who would want a real estate or insurance lawyer representing them in a murder trial. What's the worse thing that could happen? Coming in SECOND could send you to prison, or get you the death sentence.

Tax lawyers have to have special training to appear for you against the IRS, and study every year to keep up with all the tax code changes. Thus, they are the most expensive lawyer that I know, with rates of $500 or more per hour in the Midwest and not even being a senior partner !!! If a tax attorney says something wrong, then the IRS can NOT hold it against you. However, if your CPA or local tax preparer says something wrong, then you could go to prison or pay a huge amount.

I've known of lawyers who have bought memberships for their family members, just to have their legal QUESTIONS answered BEFORE they became legal PROBLEMS.

Many lawyers have legal coverage from PPLSI. I know of a number of current state attorney generals who own a PPLSI family legal membership to protect their families.

A lawyer who represents themselves, has a FOOL for a client and a FOOL for a lawyer.

Many doctors will NOT treat a family member to avoid legal problems. One man did a routine lyposuction on his wife in his clinic and she died. He went on trial for murder. I'm not sure how it turned out.

Do you know anyone who builds homes? Well then you could drop your home owners insurance, unless it's required by teh mortgage holder.

Do you know a car body shop owner? Well you could drop all your car insurance coverage, except for teh minimum liability coverage, and other coverage required due to a loan.

Do you know a doctor? Well then you can cancell your major-medical insurance ... right?

We overlooked that you can also cancel your insurance agents E&O coverage, because you have a relative who is a lawyer. Right? Of course not !!!

Having insurance doe NOT usually PREVENT you from having a LOSE or INJURY. It just helps financially REIMBURSE you and other covered parties and those who you harmed. It provides thE FUNDS to help you and covered members RETURN TO AS CLOSE TO THE WAY THEY WERE BEFORE THE CLAIM OR INCIDENT.

LIKEWISE, in many cases, a PPLSI legal membership or Identity Theft coverage will NOT PREVENT a loss or problem.

HOWEVER, it provides the coverage and FUNDS to pay specialists to help you RETURN to a close to the way you were before the incident or problem.

By having the PREVENTATIVE legal help, PPLSI memberships can help PREVENT a a legal QUESTION from turning into a MAJOR legal PROBLEM. Just as PREVENTATIVE medical care can PREVENT a MAJOR MEDICAL PROBLEM.

Having a will made, a living will, and contracts reviewed BEFORE you sign them, can prevent legal NIGHTMARES.

With virtually all types of coverages, we should say that it is BETTER to have it, and NOT USE IT, than NEED it and NOT have it. Right???

Your E&O company should tell you to NEVER tell any client or prospect that ANY COVERAGE is NOT needed. Don't tell a client that they do NOT need disability, long-term care, pregnancy,cancer, major-medical, or other types of coverage.

Also for your E&O coverage, you should NEVER tell your clients that they are 100% covered for ANY insurance situation.
If they REJECT any coverage, then it should be documented that they made an INFORMED decision to NOT be covered, If you offer P&C, you will have to have a signature on the form if they REJECT uninsured motorist coverage.

If a person has NO PETS, then selling them pet insurance would not be probable. However you would want them to know that they could get it if they get a pet, even if you did NOT offer it.

If your clients don't know about family or legal coverage, or identity theft coverage, then CYA (Cover Your Assets) by letting them know that it's available and that quality and price vary. Also let them know about Identity Theft coverage and that price and quality VARY WIDELY !!! Even if you do not offer it, you can refer them to someone who can help them make an INFORMED decision, ... even myself.

In today's tight economy, people surveyed said the best way to get rich quickly was to win a lottery, or win a big lawsuit.


As an insurance agent are your actions making it more likely everyday to be sued, with you even realizing it?

YES !!!

Almost every letter that you send out is on 8 1/2 by 11 inch paper.

Immediately lower your risks by only using 8 1/2 by 14 inch paper ... that's the only LEGAL paper available. ;-))


Sincerely and with a smile,

Joe

 

[Cornelius]

Nuff said:
Pa. judges accused of jailing kids for cash

 

[arnguy]

You tell them joe. One day maybe we can meat up at the sizzler for a nice meal and a beer.

PPL, is English your second language?

 

[SalemInsuranceGuy]

I've had a family membership since 1996 with them. I have used it alot over the years, with things like updating wills, some real estate issues, property disputes, having them send a letter to a company that employed over 50 people drop my girlfriend (yes they cover a live in girlfriend on the family plan) of the group health insurance plan and not offer her COBRA, speeding tickets, etc. I can say I've never been "convicted" of a traffic ticket since 1996 although I have paid a few fines. I didn't even have to show up in court. Their attorney showed up for me, which was nice since it was a 2 hour drive one way to the courthouse. I also used them for setting up some LLCs. Once on a sales tax issue. I was deployed overseas at the time and had an ebay business with a retail merchant license. I shut the company down and didn't file the state sales tax form (my fault through ignorance) since all my sales were out of state and I never collected any sales tax. So the state automatically assumed by default that I owed them $10,000 in sales tax. They got me out of that one. While I personally have enjoyed their service and plan to keep it, I think most people who have never used an attorney due to cost will not use the product. I made a few sales as a rep but that was about it. I even did a couple of small groups. But nothing spectactular in sales.

I think the downside is people don't see the need and value in it. It's one of those products where you have to educate people on to get them to buy, unlike normal insurance where they already see the need. The other issue is most of the time after selling insurance you've pretty much tapped out how much they're willing to spend on insurance. Perhaps this could be an add on sale down the line. I just never had a lot of success with it, primarily because I was more focused on insurance sales instead of the legal service sales.

The other downside is the rah rah mlm side to it. While you may just look at it as one more ancillary product the rep who signed you up is usually looking to build a huge recruiting network. The good thing is they do have a non mlm option just for insurance agents and the commission is all based on sales and no recruiting involved and no cost to sign up last I knew.

So if you do decide to sell it tell the rep you want the no cost insurance agent option only and just plan to do this as add on sales. That usually takes the wind out of their sails somewhat but they'll still get overrides off you.

Usually people are more interested in health, dental, life, and disability first and legal seems to be at the bottom of most of their priorities. The one exception I did have was a security guard company that got sued a lot. I'd also recommend selling the lower cost plan instead of the higher cost one like all the reps usually sell.

As far as the identity theft I dropped that off my prepaid legal and went with life lock instead, so now I still have their extended plan with the legal shield rider for $1 in case I get thrown in jail and need to call an attorney at night. Hopefully I'll never need that one.

I currently don't offer it to my clients. I've toyed with the idea of selling it as an cross sale. But I know they're anal about where you post their links and not to post with any competitors like life lock.