As almost everybody and every company knows, legal issues can come up without warning. One way many families and businesses have legal assistance readily available to them is through a subscription legal services plan. These plans typically offer access to legal help for a fixed yearly or monthly fee.
Currently, the most well know are:
LegalShield (primarily discounted legal services & free consultations);
Syndicate Subscription Legal Plans (individual, family & business legal services for a flat fee up to a certain number of billable hours per month);
LegalZoom (like LegalZoom, offers discounted legal services & free consultations – more of a referral service).
But are subscription legal services plans worth it? These plans have upsides and downsides and, in the end, using subscription legal services might save you a significant amount in legal fees.
What Does a Subscription Legal Services Plan Cover?
The coverage under subscription legal services plans varies, depending on the provider and the plan. Below is a detailed PDF that compares the Self Employed & Small Business Subscription Legal Services Plans of (1) Syndicate Subscription Legal Plans, (2) LegalShield, and (3) LegalZoom.
(Below is a PDF copy that can be downloaded)
Pros of Subscription Legal Services:
Affordability and Predictable Costs – All three named providers clearly state their services and plan prices on their websites.
Access to a Network of Legal Industry Professionals – All three named providers are nationwide, but Syndicate Subscription Legal Plans includes Canada and some international locations.
Preventative Legal Care – By having a legal plan readily available to you might help you address a legal issue before it becomes a bigger problem, which can potentially save you time, money and stress.
Cons of a Subscription Legal Service:
Limited Coverages and Exclusions – LegalShield and LegalZoom have small coverages of legal issues, whereas Syndicate Subscription Legal Plans cover almost all issues. But this is where the cost factor comes in, LegalShield and LegalZoom have lower cost plans while offering less for services, while Syndicate Subscription Legal Plans cover much more at an increased monthly cost. This part comes down to individual needs.
Unused Benefits can be a Waste – LegalShield & LegalZoom do not allow you to rollover any unused hours from a previous month, whereas some Syndicate Subscription Legal Plans allow you to rollover unused benefits.
Be sure to carefully review the terms and conditions of any plan you're considering so you understand the extent of coverage and any limitations that apply.
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