Several years ago, I encountered someone who convinced me that purchasing prepaid legal service was a sensible decision. If you’re unfamiliar with prepaid legal, it is similar to health insurance. You pay a monthly fee to have access to an attorney for everything from will preparation to legal advice to court representation.
When you enroll, you’re assigned a provider law firm to assist and represent you for future matters. The idea is that you’re investing in legal assistance in case you ever need it. It offers a degree of security in knowing you have representation available to you and that you will not need to spend a lot of money out of your pocket should you need to take advantage of it in the future.
Although not all legal situations are covered and you only receive a certain number of court hours that are included based upon the plan you purchase, many people may find assurance in having such coverage.
If you scour the internet, you’ll find testimonials from people who claim to get a great deal of use from their prepaid legal service. They’ve had their provider law firm call or write letters to companies that have breached contracts or sold them a substandard product or service and refused to make it right. They have a will prepared or have their provider attorney contact a creditor who is harassing them.
Although it’s convenient to have someone available to assist you in such situations and you should take advantage of your benefits if you can use them, is prepaid legal really worth it in the long-run?
Some people feel it’s worth the price of admission and easier on their wallet than the possibility of having to pay outrageous hourly rates for an attorney if they find themselves in legal trouble.
Others prefer to go the traditional route and hire an attorney if and when the time comes when they need one. No option is right for everyone, so it’s a good idea to explore both possibilities and settle on the one makes the most sense to you.