Great Business Ideas: Buy Prepaid Legal Insurance

Great Ideas for your Small Business:

Buy Prepaid Legal Insurance

Did you know that 52 percent of all Americans have some sort of legal problem? And that one of every three people will need legal advice in the next twelve months? With attorneys charging an average of $175 per hour, legal bills can eat into your profits. Even a small legal problem can drag down your morale and your business. That’s why many small business owners are signing up for prepaid legal insurance.

One of the oldest providers of this benefit is Pre-Paid Legal Services® Inc., based in Ada, Oklahoma. The company sells coverage to both individuals and small businesses. For about $75 a month, businesses with fewer than fifteen employees and $250,000 or less in net income can have access to experienced business attorneys. Their team of lawyers can review contracts, write debt collection letters, and deal with leases, partnerships, creditor harassment, and bankruptcy, among other problems. If you need additional services, you are given a 25 percent discount off their regular legal fees.

To get help, call the toll-free consultation line. A representative collects all the details and refers you to the right person in the firm. You’ll usually get a call back by the end of the next business day, according to company officials.

Pre-Paid Legal Services, a publicly held company, was founded in 1972. It contracts with 2,700 law firms in forty- six states. The company has paid $100 million to 100,000 attorneys on behalf of clients.

Shop around for the best deals, but consider this type of insurance as a way to sleep more soundly at night.

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