Legal Shield (www.MyLegalShield.com) is new name of PrePaid Legal, which is an innovative type of legal insurance company. The concept behind Legal Shield was formulated when the founder had a terrible car accident in 1969.
He realized he had car insurance and medical insurance, but no form of insurance to cover the large legal bills he incurred as a result of the accident. In response to this incident, he created a legal services company that acts similar to any other insurance.
Members pay monthly fees for a package that has a variety of coverage, and if something should happen while they are covered, they will not only have representation but many fees will be prepaid, hence PrePaid Legal.
What Kind of Coverage Is Offered?
The most popular plan offered by Legal Shield is the family plan, which costs $26 a month and provides coverage for problems that occur with motor vehicles, possible trial defense, and IRS audit assistance.
This package also includes preventative legal assistance, which covers things like creating a will and updating it yearly, as well as a 25% discount on legal areas not covered in the other included areas.
Legal Shield also offers packages that handle identity theft, which is one of the fastest growing areas where average citizens require representation.
Legal Shield as a Business Opportunity
Much like car insurance, Legal Shield is sold by independent representatives with a network marketing compensation plan. To become a Legal Shield independent representative costs a one time fee of $249.
Commissions are paid in yearly advances to their associates, and associates have the ability to build residual income if they are able to retain clients who maintain memberships longer than one year.
But while there is excellent opportunity for independent earning with Legal Shield, being an independent representative for any company is hard work.
Legal Shield does its best to give their representatives leads on new customers who have shown interest in their services, but it is still the responsibility of the associate to find and sign up new members and to ensure that they are satisfied enough with their service that they remain active clients.