Are you looking for a good LegalShield review? Well if you are looking to find out more information about Legal Shield you have come to the right place!
I applaud you for doing your due diligence and research to see if its a legit company, and if you can really make money with this business opportunity!
In this unbiased Legal Shield Business Opportunity review I will attempt to provide enough information about the Company, Product(s), and Compensation plan for you to be able to make an informed decision.
NOTE: Unbiased (meaning I am not a distributor of their products and I do not promote their business opportunity). Your decision to join or not join the Legal Shield business opportunity is entirely up to you.
Let’s get started!
COMPANY NAME: LegalShield (formerly Prepaid Legal)
FOUNDER: Harland C. Stonecipher
REACH: USA & Canada
LegalShield is a United States based network marketing company that officially launched on in1983.
The company is owned by MidOcean Partners (an American private equity firm specializing in leveraged buyouts, recapitalization and growth capital investments in middle-market companies).
Legal Shield Mission Statement:
Everyone deserves legal protection. And at LegalShield, our mission is to make sure everyone can access it. With the commitment of over 4 million LegalShield members, we are able to negotiate comprehensive legal services with dedicated law firms in the United States and Canada, at a fraction of what they traditionally cost. By offering uncommonly accessible legal services at an uncommonly affordable price, our hope is that everyone can live their lives worry-free, every day, every night, now and forever.
The LegalShield brand is a vow. It is a promise of peace of mind, a commitment to our customers that no matter the situation, we will be there to help. With total access to unlimited, complete legal coverage, our members should fear nothing. The protection of our product is total, a shield that watches over them and their loved ones, protecting their rights, their freedom and their future.
What Are the Products?
LegalShield offers pre-paid service for personal and small business legal plans plus identity theft protection.
Each plan covers specific things with a legal representative from paperwork reviews to court time, legal advice, IRS Audit support, court representation, will services and limited motor vehicle legal services.
LegalShield’s plans (including identity theft protection at an additional charge) are only available in the US and Canada due to complexities of laws varying from state to state and province to province and some services might not be available at all in some states/Canadian provinces.
LegalShield’s plans are around $20 a month but is slightly cheaper in some states.
Business plans available covering legal services that are more business orientated, ranging from about 75$-$125 a month (depending on your business size).
There is an a $10 non-refundable enrollment fee charged to the first months membership.
The plan also has an optional GoSmallBiz Supplement for an additional $14.95/month.
Note: The benefits and prices described are not available in all states and Canadian provinces. To see specific details on terms, coverage, pricing, conditions and exclusions visit the company website, legalshield.com.
The Marketing System – How to promote the products
LegalShield trains their associates to promote their product using traditional, somewhat outdated, marketing methods such as Conference Call (PCC) • FlipBook • 3-Way Call • Luncheon • Business Briefing • In-Home Presentation (PBR).
They have recently instituted online presentations, lead capture pages and webinars for reps that want to leverage the internet to build their business.
NOTE: Don’t be the LegalShield associate that spams their friends Facebook and Instagram walls with ads and crazy make money now claims. Read this post “The quickest way to lose your Real and Facebook friends” before advertise on Facebook.
So how did the Top LegalShield earners become so successful?
The Top LegalShield earners build their businesses totally different than the masses do.
The top earners who are making money in LegalShield are great at marketing, both offline and online.
They know how to generate traffic and leads, and then convert those leads into sales, and they know how to recruit the best people into their business.
The teams that seem to be successful are using lead marketing tools in order to train their group on internet marketing techniques and give them the tools and knowledge to generate their own online leads.
If you want to become a top producer, you will need a powerful lead marketing system to foster and build a relationship with your prospects.
Not having a lead marketing system is why most LegalShield associates fail; because they follow the masses and get the same old results.
Can I make money with LegalShield?
The LegalShield compensation plan is a unilevel stair step breakaway plan tied into various membership levels.
You also earn a percentage through a certain number of levels of distributors within your organization. The higher the rank you achieve, the more levels from which you can earn commissions.
NOTE: A network marketing Stair Step Plan is a compensation plan in which representatives who are responsible for the both personal as well as group sales volume. It is a simple plans for the distributors who are new for network marketing business. Every step is based on a certain volume of sales target. If a distributor or networker achieve the set target he/she will promoted for the next higher level. The Stair-Step compensation plan gives huge incentives for distributors to achieve the set target. The breakaway design is structured so that team members have support during their early growth but can later branch off and lead their growing team independently.
A LegalShield active associate must produce at least three personal sales in the product/service line each quarter of the calendar year or maintain a personal membership to be eligible to receive commissions on a product/service line with the LegalShield Compensation Plan.
How do I join?
To be a LegalShield associate you must:
1) Pay the one time Fast Start Entry Fee (currently $149).
2) Pay the License Application Fee, if required by your state (fees vary).
Well this is a comprehensive LegalShield business Opportunity review, right? Then let’s look at the good as well as the bad.
- Residual income opportunity on product renewals. Renewals are amounts you earn on memberships that “renew” or continue paying after the first 12 months.
- At least three different ways you can get paid.
- Established company over 40 years in business.
- Monthly Commission Check – (daily and weekly frequencies are not available).
- Commissions are paid based on membership sales, either personal, or when an eligible Associate on your team makes a sale.
- Recognition and Bonuses. In addition to to the above compensation, LegalShield has a Luxury Car, Top Producer/Top Recruiter, Hall Of Fame, and Ring program.
- The company provides a good Success Guide to new associates to get them started.
The Not So Good
- Target audience is limited to those seeking legal assistance. Also Limited to USA and Canada.
- Requires that you have three (3) personal sales each quarter or have a membership plan in order to remain active as an associate and participate in the compensation plan.
- High potential for an associate to receive a charge-back. This means that if a customer cancels their membership within the first 12 months, the rep will incur a commission charge-back, due to the customer falling off the books.
- In the associate website, there is a $20.95 monthly upsell to purchase eService.
- Some states (16) and one Canadian province require a license through the department of insurance to market legal plans. License Fees vary but run between $27-$200 and the application fee for Manitoba (Canadian Province) is $55. Also most states require annual or bi-annual renewal of the license/appointment.
For a more detailed look the full LegalShield compensation plan here.
It is very difficult to find any of LegalShield’s annual earnings reports after 2010. Click Here for the Prepaid Legal (now LegalShield) 2010 Annual Report on the SEC Website or copy and paste: http://www.sec.gov/Archives/edgar/data/311657/000120677411000352/prepaid_10k.htm
Expected Membership Life- Using historical data through 2010 for all past Members enrolled, the expected Membership life can be computed to be approximately three years. This number represents the average number of years a new Membership can be expected to remain in force. Although about half of all new Memberships may lapse in the first year, the expected Membership life is much longer due to the contribution of higher annual retention rates in subsequent years.
NOTE: Commissions to associates decreased 13% from $130.6 million for 2009 to $114.2 million for 2010, and represented 31% and 27% of Membership fees, respectively.
Is the LegalShield business opportunity right for YOU?
Once you’re registered as a independent associate, you can start building your business.
However you will not be receiving any commissions until your licensing in complete.
Unfortunately the sad truth is, if your looking at LegalShield solely for the purpose of the compensation plan and you are an inexperienced marketer without the drive and ambition to make a serious change in your life, LegalShield probably isn’t for you.
I’m assuming that we haven’t personally met yet and that I haven’t gotten to know you.
So, I’m going to be pretty blunt here.
If you expect to sign up and instantly start to make money without a lead marketing system, let me be the first to tell you … YOU WILL FAIL!!!
A strong marketing plan that incorporates online marketing tools can can create extraordinary results when done properly.
Your success as a distributor will ultimately be determined by how many people you can attract to you and your team.
What do I mean? To succeed in Legal Shield or any Network Marketing company requires you to sponsor and enroll new people into your business.
If you want the best chance at success in your LegalShield business, you also need to learn Attraction Marketing principles. The fact is your success will be based on your ability to market and generate qualified leads. Without understanding Attraction Marketing principles, you will always be at a serious disadvantage.
I always highly recommend anyone who is planning on joining a network marketing business consider Attraction Marketing to help them generate qualified network marketing business leads. Doing so will put you in position to win not only inside LegalShield, but any company you may choose in the future.
A quality Attraction Marketing System will allow you to brand yourself personally as a leader, teach and allow you to generate leads, as well as help you generate income from the individuals not interested in joining the LegalShield opportunity. When creating a system around you – you hold the power and can filter those that want to work with you into Legal Shield or any Network Marketing opportunity you choose. This is why I highly recommend learning a few simple skills – that allow you to build a business.
Click here for a free 7 video training bootcamp to learn about attraction marketing.
By using attraction marketing, learning a few marketing skills, and leveraging the power of the internet, you can succeed where the other 95% fail.
The Bottom Line
In conclusion, you are doing a good thing researching LegalShield reviews.
Make sure you get to know as much about the company as you can before making a decision.
But also understand that if you are new to the direct sales and network marketing industry that your success will come from your ability to generate continuous leads in order to make sales.
If you are interested in the legal industry then LegalShield is certainly an business opportunity worth looking into.
Success in network marketing is not a huge mystery. It is just a matter of correct education, proper skills and effective action.
Your comments are welcomed below, if you are a LegalShield associate please share your experiences.