A lot of people have expressed concern about the prepaid legal plans that have gained popularity and how they may be scams. These prepaid legal services scams have fell into the good graces of more than 1 and a half million families in Canada and the U.S. This scam has also allowed people that have taken advantage of prepaid legal services business plans to become quite wealthy too.
The scam that peddles a prepaid legal service got its start in America back in the decade of the 70’s and its founder said that it would help lawyers the same way medical insurance helped doctors. This scam wasn’t new to society though because a less sophisticated version, which was said to have influenced the latest one, was the rage as early as the 1930’s in Europe.
Let’s Breakdown the Prepaid Legal Scam Here
Prepaid Legal Consumer Scam -The organizations that offer prepaid legal plans have gotten people to pay upwards of $1.25 a day with a promise that they’ll receive legal protection for legal problems that may occur but haven’t occurred yet. So really, a person or their family may never have to use their prepaid legal plan.
Though it resembles the same business model and offers protection comparable to the protection that is equivalent to that of vehicle and residence insurance providers, it’s still is considered a scam by some. This is mainly becaue we place more value on things like vehicle and homes than we do on the legal rights of ourselves and our families. It’s just legal rights that prepaid legal providers agree to protect.
Prepaid Legal Lawyer Scam -This area of the scam is what usually gets people to be fooled by it. You see, prepaid legal companies have gotten reputable law firms from coast to coast to be complicit in this little prepaid legal services scam.
Being in on this prepaid legal service scam could cost these attorneys their licenses yet they still play along with it. They really ham it up by offering prepaid legal services members unlimited telephone consultations, document examinations, and may go to court with the scam clients. But prepaid legal services have gotten complaints because the five quarters a day that retain the law firms for the month doesn’t include representation in a murder trial- Bummer.
Prepaid Legal Services Stock Scam -The prepaid legal service scam has entered into the homes and investment portfolios of thousands of people too. A major prepaid legal provider managed to deceive the government to the point where they were given permission to sell stocks of their company to unsuspecting investors. They’re currently grinning down from the NYSE and spreading their scam across more lives.
The point that I’m trying to make here folks is that prepaid legal services are not scams. They offer protection for the legal rights of individuals and families. How many times have you cashed in your car or home insurance, not a lot I hope but you continue to pays the insurance companies every month? Why, because you want that peace of mind for yourself and your family. If the business models of prepaid legal, car, and home insurance companies are indicative of scams, then the only thing that is not a scam are life insurance companies-because we’re all going to pass away someday.