Whether it be matters relating to inheritance, family disputes, retirement or even buying a house; you are likely going to require the help of an attorney. Finding an attorney can sometimes not only be difficult but also prove to be quite expensive. In this LegalShield MLM review, we’ll uncover if this is truly a more affordable approach to retaining an attorney.
This is why companies such as LegalShield offer an affordable monthly subscription-based model that allows individuals to have an attorney on retainer whenever needed. However, the real question is can you make an income selling LegalShield subscriptions?
Who are We
Eve Pacific Media is an affiliate marketing firm that provides support and guidance to those contemplating or who have chosen to become content creators. We help aspiring bloggers, content creators, and affiliate marketers with their strategies.
My relationship with multi-level marketing or network marketing started in the late 80s. I have had involvement with Shaklee, Primerica, Amway, and, yes, the infamous Consumer Buyline. I enjoyed various levels of success. Back then, I aspired to become an MLM or Network Marketing Pro. Savvy top MLM earners would build massive downlines, breakaway, and move to programs with the most lucrative opportunities during that era. This was a common practice before many States barred those multi-level marketing schemes.
Our goal at Eve Pacific Media is to use my vast experience to benefit others with a series of reviews of multi-level marketing companies.
What is LegalShield MLM?
LegalShield was founded originally in 1972 by Harold Stonecipher as Sportsman’s Motor Club. Harold was a victim of a car accident in 1969 and although he wasn’t at fault he was mandated to get legal aid. As he struggled to come up with the finances to pay the legal fees involved he established The Sportsman’s Motor Club as a way to reimburse the legal fees of members involved with vehicle accidents.
The company grew much more than that in a short span of time and was first incorporated in 1976 as Pre-Paid Legal Services, Inc. The company was listed on the NYSE in 1984 and in 2011 was bought by MidOcean Partners for a cool $650 million. At this point, it was rebranded as LegalShield.
Today, LegalShield is a multi-level marketing company that specializes in identity theft solutions and many other pre-paid legal services. The company has a network of over 7,000 independent attorneys and close to 2 million members across North America and the United Kingdom. To learn more check out this video.
How Does LegalShield Work?
The process for signing up to sell LegalShield services is a fairly simple one. Simply fill out the form in the application process and submit it. Signing up as a new associate will cost $99 and in return, you will get training, sponsor support, a back-office, and other informative materials. In some states, you may even have to pay an additional licensing fee.
Unlike most other MLMs, where you sell a product, with LegalShield you are selling a service. Members of LegalShield can take advantage of a vast network of lawyers at any given time to assist them with various types of legal services including but not limited to traffic violations, will management, criminal charges, legal consultation, and much more.
Can You Make Money with LegalShield?
As you are not selling a tangible product it can be harder to sell. Convincing people to sign up for a monthly subscription can be challenging, especially, if they hardly ever require legal services. However, based on data collected I found that if you managed to make 1 sale a month you would stand to make around $6,000 a year. With a team, you can do a lot more as you will not only receive override bonuses from team sales but also commissions for any renewals as well.
Pros of LegalShield MLM Review:
On average a LegalShield monthly subscription will cost about $25 a month. If you are a small business owner, or a person who frequently requires legal assistance on personal or work-related matters, paying a $25 membership is well worth it as most lawyers can charge upwards of $200 an hour just in consultation fees. An excellent selling point.
Access To A Vast Network Of Lawyers
With over 7,000 independent lawyers, members get round-the-clock access to legal services whenever they need them, helping them resolve legal matters more quickly and efficiently. Another great selling point.
A Variety Of Legal Plans To Choose From
Plans are available for individuals, businesses, and commercial needs which open up a vast customer market for one to tap into.
Cons of LegalShield MLM Review:
The one thing I found to be a problem while selling was the fact that when you dig into the services you find not a lot is covered. Yes, basic legal services are included but if you need legal assistance with medical issues or criminal charges it is not covered in any plan. The only benefit a member gets is a 25% discount if they choose one of the recommended LegalShield attorneys.
Choice Of Attorney
You don’t get to pick and choose your attorney. Whoever you get at the time gets your case. So, even if you enjoyed working with an attorney in the past there is no guarantee you will get them again for your next legal issue.
This is one drawback that really leaves a dry taste in your mouth. As commissions are paid out on the basis of a minimum yearly contract, if the customer ends up canceling before the year is up the commission is charged back.
Is LegalShield Legitimate?
Before you go diving into trying to sell people on a monthly legal subscription there are several things that you need to realize. However, first, let us begin by answering the question of legitimacy.
Is any MLM company 100% legitimate? Many would argue yes but many others wouldn’t. The same can be said about LegalShield. On paper, it seems like a legitimate company that sells a decent service at a decent price. However, like any other MLM company, it can be accused of being a pyramid scheme. However, as the company has been in business for almost half a century, who is to doubt its legitimacy?
Now that we have got that out of the way let’s talk about what you need to consider before deciding on taking on this MLM. First, think about whether you have the right network of people you can sell this service to. Next, consider the fact that you need to sign a member up for at least an entire year to fully guarantee a commission payout. As the model doesn’t offer base pay, relying solely on commission is a gamble.
Even LegalShield in their training material states that this isn’t a get-rich scheme by any stretch of the imagination. If you want to make decent money at it you will have to work hard and ideally have a team working under you.
Don’t forget that depending on the state you live in you might need to apply for a license and pay licensing fees in order to sell these memberships in the region. Make sure to carefully access the costs and returns associated with selling LegalShield services before investing time, money, and energy into the program.
To make this a successful venture you will have to be willing to work hard and be prepared to learn and adapt along the way!