Hey everyone! I just wanted people to be aware of a company that offers pre paid legal services as well as Identity theft protection. The cost is 12.95 a month for the ID protection or 9.95 a month if you opt for the 10 dollar a month pre paid legal services. The ID protection includes: updated credit report credit monitoring identity restoration restoration reimbursement up to 25k the website you can join or look at is: www.prepaidlegal.com/go/neufeld This is my wifes webpage and she just got involved in this. Your opinions are welcome.... anyone heard of this company? anyone know any dirt? is it good? is it worth it?
I would presume that you would vet this company the same way you would any other company you want to do business with. No "insurance" is any better than the company behind it. The only thing you can be sure of is the money will go out. Where are they located, and incorporated? How long have they been in business? Any regulatory complaints? What is their financial strength? Who are the principals of the corporation, what is their experience, and what is their track record? Is their experience applicable to this service? Any regulatory complaints in past businesses? Who provides their legal services? (check state bar records, etc.) Are they required to be registered with any state regulatory entities, either where they are located, or where they do business with you as a customer, and are they? Are they part of another company, and what is that company's record. Only after this can you look at whether what you might get is worth what you pay for it.
found out it is a MLM, its on the NYSE, been around for 30 years... lol... my wife has to make a list of her friends to solicit to... I guess it isn't to bad though... you make about 50 bucks per sale of this legal plan and about the same for the identity protection, so it has the potential to be pretty good. I personally am not interested in recruiting people... so i'll let my wife have the "fun"
I guess I am leary of MLM, whether listed or not. The same issues apply, and MLM selling and friend to friend borrowed credibility are not in the end a substitute for the ability to deliver the promised product.
In effect having an MLM sales force "self-capitalize" the sales function of a business by using a MLM structure does not contribute to my positive assessment of the financial strength of a company that does this. In the absense of financial strength, no payment for promised future performance has any credibility or value. MLM sends the wrong message for this line of business.
As an unbiased customer, would you rather pay, say, $200 to buy a package from this company, or the same to add a rider on your home insurance policy with your current carrier?
