Legalshield or PrePaid Legal

[Mark]

Other than the LegalShield recruiters, is anyone making any good money from Legal Shield?

Every week someone approaches me and tells me how I can get rich selling it.

I thought prepaid legal went out back in the 90's with long distance. It looks like they have changed the name and spent a lot of marketing money to build up a new brand.

Are any of you making money from this?

I know with MLM the top people always make money and even NAA can show you a couple of people making tons of money. Any of you avg people making money from this?

 

[Cornelius]

Mark ask the person you are talking to to send you a sample contract of the standard or expaneded family plans with or withut the Identity Theft plan bundled in.. Then just look at one of the commission schedules.

One thing that's different about LS compared to other companies is a person can if they had to make a decent income just from individual sales by marketing memberships. LS is kind of like a insurance product where it's a service that has to be sold and not just bought. People have to understand the product and where it fits..

A LS membership has no underwriting, pays renewals, in most states no licensing requirements, the memberships are month to month so there's no long term contract and they pay daily per direct deposit.

As for myself I don't push it 100% because of a potential future conflict with outside business with a series 65 in the near future but if that wasn't an issue myself I would heavly consider recruiting as many people as I could..

Considering signing people up it's as easy as paper apps are one page or people can sign up online per a web page.. So basically it's there and how much a person can make is up to them. People just need to look past the MLM and consider the product/service and the need for the product/service

 

[0b1kanobee]

Any of you avg people making money from this?

Since when did an average person make money from much of anything like this? When I was in it it wasn't for the average person. My friend went in right before me and made over 100k his first year. His third year was over 250k. His 5th year ended when he drowned in chargebacks. He dropped out went into timeshare and made thousands weekly doing that for a while. Timeshare went into the toilet and back into Prepaid Legal he went. Worked his way out of debt with them and back up to the big bucks. Now he is some sort of executive there plus he still sells and recruits.
Definitely not your average guy. Average people have a better chance in the Insursnce business. I think he even banged the Prom Queen.

Take an above average person and multiy that by ten and maybe you have a shot at making it in that game. On top of all that you better have a complete understanding of compensation plan maximization or a coach or mentor who does because you can bust your but at it just like any other mlm and not make squat due to a few wrong moves every once in a while. It's like a never ending game of chess.

That's why you will have guys come into the business years after a top mlm producer and smoke them in 18 months compensation wise. The plans have to be set up that way or else it would be a pyramid scheme. They are complex mixed with what I would call a little luck of the draw at times when it comes to the downline placement because you really never know who is gonna do what (just like recruiters with insurance agents only think on a broader spectrum because most insurance agents don't recruit and it's the opposite with mlm.

There are some books written on this Mark. You should check them out. Might help your recruiting. Couldn't hurt.

And something else is you can't controll who comes into your organization or downline which means you are sometimes driving a car blind but if you know how to still stay on the road it can be done (sort of a bad analogy) where as you control every agent or approve as they come into your Insursnce organization. There are some mlm groups which do use an approval process and placement process and are ran rather tight.

Some of these groups have been known to belong to several mlms where they switch positions in the group at each company so more people make money (even the ones who aren't producing much). Most mlms have put a stop to this and only let you represent one company. One group could have 5,000 people in it and behind it a handful of masterminds.

 

[Guest]

Since when did an average person make good money from anything in general?


Read more: Legalshield or PrePaid Legal

Since when did an average person make money from much of anything like this? When I was in it it wasn't for the average person. My friend went in right before me and made over 100k his first year. His third year was over 250k. His 5th year ended when he drowned in chargebacks. He dropped out went into timeshare and made thousands weekly doing that for a while. Timeshare went into the toilet and back into Prepaid Legal he went. Worked his way out of debt with them and back up to the big bucks. Now he is some sort of executive there plus he still sells and recruits.
Definitely not your average guy. Average people have a better chance in the Insursnce business. I think he even banged the Prom Queen.

Take an above average person and multiy that by ten and maybe you have a shot at making it in that game. On top of all that you better have a complete understanding of compensation plan maximization or a coach or mentor who does because you can bust your but at it just like any other mlm and not make squat due to a few wrong moves every once in a while. It's like a never ending game of chess.

That's why you will have guys come into the business years after a top mlm producer and smoke them in 18 months compensation wise. The plans have to be set up that way or else it would be a pyramid scheme. They are complex mixed with what I would call a little luck of the draw at times when it comes to the downline placement because you really never know who is gonna do what (just like recruiters with insurance agents only think on a broader spectrum because most insurance agents don't recruit and it's the opposite with mlm.

There are some books written on this Mark. You should check them out. Might help your recruiting. Couldn't hurt.

And something else is you can't controll who comes into your organization or downline which means you are sometimes driving a car blind but if you know how to still stay on the road it can be done (sort of a bad analogy) where as you control every agent or approve as they come into your Insursnce organization. There are some mlm groups which do use an approval process and placement process and are ran rather tight.

Some of these groups have been known to belong to several mlms where they switch positions in the group at each company so more people make money (even the ones who aren't producing much). Most mlms have put a stop to this and only let you represent one company. One group could have 5,000 people in it and behind it a handful of masterminds.

 

[ranzroz]

If you sell a plan you get paid the following day. If you don't sell a plan naturally you don't get paid too. Legalshield is also offered as employee benefit. So, yes! You can make a lot of money in LegalShield if you're willing to work for it. One of our associates in Minnesota signed up 1,300 employees just this month February 2014 and made over $100,000.00. I hope this answers your question.

 

[GreenSky]

If you sell a plan you get paid the following day. If you don't sell a plan naturally you don't get paid too. Legalshield is also offered as employee benefit. So, yes! You can make a lot of money in LegalShield if you're willing to work for it. One of our associates in Minnesota signed up 1,300 employees just this month February 2014 and made over $100,000.00. I hope this answers your question.

It would have answered it better if it was still 2012 when it was asked.


Rick

 

[Cornelius]

Ranzroz those types of transactions are possible but few and far in between. The main problem some of the agents have with LegalShield is the MLM thing. Something else I have found is many people have never read the membership contracts so they may not fully understand what the memberships have to offer.

The main selling points if your looking to bring in agents are things such as the potential for residual income, daily pay, no underwriting, book of business can be willed to a spouse or family member, the bonuses, ability to sell in US and Canada, etc.. You have to get some people to look past the MLM thing. Some people just don't want to have anything to do with it.

I think I read somewhere it's said one out of 3 people don't own life insurance but it's also been said about 75 (being general) percent of people don't have a will. So sure a big group sounds impressive but the big hurdle is and will be the MLM. Get people to look beyond that and the recruiting becomes a bit easier.

 

[Aram Fingal]

I was told recently that agencies can sign up and be at the director level right then and there, which would avoid all the MLM to try and build up your commission level. Can anyone confirm if this is true or not?

 

[Cornelius]

I don't know the specifics but they do have a broker division which does bypass the recruiting part of the business and allows income from direct sales. The thing is many agents know many other agents who at the very least would like to have another income stream especially if no licensing required which can fit with their clients needs no matter which line they sell.

As an agent why not bring on a few agents build a good book of business and when the agent dies pass the business on the wife and children? Ask your friend for more information if your interested. Ask him for a success guide, sample contract and a commission schedule for a standard plan along with the Identity Theft plan.

Then just look at the potential numbers between building a team or going the broker route. Myself I see the benefit of having the option of team building. My problem is getting a series 65 is a deep consideration for me. My concentration is all about potential residual or AUM.

 

[Aram Fingal]

So if I'm understanding you correctly, if you go with the program that gives you director level commissions immediately, you can not get compensation for sub producers? So if you own your own agency, and sign the agency up, you can't then just sign your producers up under the agency and let Legalshield handle the compensation? You would have to place their business through the agency and then the agency pay the producers?