1) Prepaid Legal
In 1972, a life insurance salesman by the name of Harland Stonecipher was involved in a serious motor vehicle accident that greatly affected his life. Although Stonecipher’s vehicle and medical expenses where insured, he was left with legal fees totally several thousands of dollars.
From this tragedy, Stonecipher was inspired to provide others with legal insurance. In 1979, Prepaid Legal became a publicly traded corporation. The company provides legal expense reimbursement services through plans sold by independent distributors.
2) Prepaid Legal Plans
Independent distributors market legal insurance plans through Prepaid Legal. This means that you are basically insuring your future legal needs. Plans offer a certain level of coverage at no cost and then increased coverage for reduced rates. The new plan owner pays a membership fee and premiums to obtain their coverage.
For a $49 fee, you can become a Prepaid Legal independent distributor. This gives you the rights to market the plans to individuals, families, or businesses.
3) Prepaid Legal Compensation
Prepaid legal markets their business opportunity under the network marketing umbrella. Prepaid Legal pays commissions of $69-$250 every time you personally sponsor someone into the business.
The way that you achieve success with Prepaid legal is by recruiting and training others to sell the legal insurance plans. By creating a system for others to follow, you can leverage yourself and your time.
In conclusion, if you are anticipating a large amount of legal needs in your future, the Prepaid Legal business opportunity might work well for your needs. However, if you wish to promote the business, you are going to need to have an intelligent marketing plan and budget in place to achieve success.