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Legal Insurance. What is that?


We carry health insurance for routine ‘maintenance’ and unforeseen events, auto and home insurance for unexpected property losses, but what about protection and assistance with the day to day situations that could require legal assistance?

Review of an agreement or contract ♦ securing a mortgage ♦ collecting or settling a debt ♦ credit report issues ♦ probate ♦ bankruptcy ♦ immigration ♦ divorce ♦ preparing a will ♦ traffic citation ♦ marriage ♦ purchasing faulty merchandise/consumer protection ♦ notary services ♦ these are all situations where having an attorney would be of great value, but sometimes the cost can be discouraging from having the much needed legal assistance.  Studies have shown that 7 out of 10 people have experienced some sort of legal event in the past twelve months and most do not hire an attorney to represent them due to cost.

The solution is a legal insurance plan.  Also known as pre-paid legal or legal insurance, this coverage works similar to health insurance where you have a monthly premium and receive a list of benefits at no cost with easy access to attorneys.

According to The Florida Bar, they state that every citizen of the state should have access to the legal system, and it is their policy to support the concept and to actively encourage the establishment, operation, growth, and development of legal service plans as one means of increasing a person’s ability to obtain legal services at an affordable cost in order to have the opportunity to better gain access to the legal system.

When choosing a legal services plan, here are a few items to consider;

Cost – Plans range from $9 to $25 per month based on coverage.

Waiting period – Determine what may not be covered from day one.

Exclusions – Find out what situations may be excluded from coverage or cost additional.

It is also not a bad idea to find out who are the participating lawyers in the plan.

In summary, legal service plans have been around for over 50 years and can help you save money by avoiding large legal expenses while protecting you from being taken advantage of.   A 2016 Florida Bar survey published in 2017 shows that 81% of attorneys charge an hourly rate of at least $200 with a mean hourly rate of $300.  That means a legal plan costing just $10 per month is well worth it even if you just use one hour of an attorneys time over the course of two years.

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