Many are wondering Is LegalShield A Scam in light of the fact that we live in a world where having a lawyer on hand is as commonplace as having a mechanic.
You need someone to represent you legally (a lawyer) in matters like purchasing a house, having a trust fund for your kids, or writing a will.
LegalShield sells different legal services to customers through a monthly subscription; this subscription gives them access to a lawyer.
Can I make money by selling LegalShield subscriptions? Is LegalShield a legit company? How profitable is this opportunity?
This brief LegalShield review will hopefully answer the questions you have.
You will discover all you need to know about this platform. Once you are done reading, you can tell if this opportunity will profit you.
Is LegalShield a Scam – About The Company
LegalShield is an MLM company founded in 1972 by Harland Stonecipher as Sportsman’s Motor Club.
They sell pre-paid legal services and their network has more than 7,000 independent attorneys.
The company also has members (about 1.7 million) across Canada, the US, and the UK.
Stonecipher used to be a life insurance salesman, and he created the company following a car accident. Although it’s not his fault that the accident happened, he was forced into hiring an attorney, and he struggled to pay for his legal expenses.
In 1976, LegalShield was incorporated as Pre-Paid Legal Services, Inc. It was traded in 1984 on the New York Stock Exchange. In 2011, it became a private company when MidOcean Partners acquired it for $650 million.
Are Their Products Worth the Price?
LegalShield offers different services such as setting up a power of attorney, preparation of will, traffic violation defense, consultations, criminal charges resulting from auto accidents, and so on.
You can purchase these products individually or as a package deal. The products can easily be tailored to meet customers’ needs, which makes them appealing for the price.
Consumers will benefit more from the monthly payment; it saves them the stress of waiting until the service of a lawyer is needed and the cost for hourly consultation ($200).
On Consumer Affairs, LegalShield has a 3-star rating; it appears that people are happy with the service they receive.
Some people gave the platform a 1-star rating; they had issues with unsupportive lawyers, and there was a case where a customer did not receive notification for cancellation of the contract.
On the BBB (Better Business Bureau), LegalShield has a nice rating.
When this post was written, LegalShield has an A+ rating and a 3-star review from customers with 78 reviews.
Sadly, none of the complaints listed has been addressed by LegalShield.
You would think that a company like LegalShield would be eager to address complaints from unhappy customers.
LegalShield MLM Opportunity
The difference between this MLM opportunity and other MLMs is that you are selling services (access to a network of lawyers) to customers instead of products.
Selling a membership to a person grants them access to a network of lawyers with a given set of services.
In the application process, there is a section where you will provide a list of people you know who may need pre-paid legal services.
Registration Cost
You will pay $99 for the New Associate start-up kit; this comes with materials, training, back-office, and sponsor support.
Also, you may be asked to pay a licensing fee, depending on the state you reside in.
Each state has different licensing fees (the licensing requirement in State A may differ from the requirement in State B). If there is a license fee for your state, you will have to pay that license fee yearly.
Additional expenses include phone calls, travel expenses, meetings, and so on; there is no reimbursement since they are personal expenses.
Can I Earn With LegalShield?
Since you are selling services and not material products, it will be difficult for people to tell that what you are selling is worth the price.
Their prices are reasonable, but you may find it challenging to convince customers that they will benefit from the services you want to sell to them.
Unfortunately, many people don’t see a need to purchase pre-paid legal services with a monthly fee because it’s not often you need the representation of a lawyer.
No False Promises Or Hype
Do you know who you could sell LegalShield services to? Ask yourself this question before you join.
Don’t forget, you only get paid when people sign up for a whole year.
If a person who signs up decides to cancel their contract halfway, the platform will revoke your commissions.
There is no base payment; thus, it may take a longer time to sell LegalShield membership to people you know and still not make money from it.
The platform looks nice and appealing. I read a documentation where they mentioned that the platform is not a get-rich-quick scheme, and you will have to work very hard to earn.
I like the fact they were honest; no false promises and no ridiculous hype.
The services they offer also varies depending on the state, and some lawyers are more supportive and resourceful than others.
Is LegalShield Legit?
The opportunity offered by LegalShield is a legit one; this is not a scam.
Keep in mind that great customer support ans well as good communication with the lawyers is very important to have long term success here.
You will quickly lose customers if great customer service is lacking. You may lose more if your customers if they happen to be your friends or family.
However, as great as having a lawyer
LegalShield is similar to other multi-level marketing platforms I’ve reviewed on this blog such as:
The success rate for individuals joining a MLM to actually make a profit with their new-found business is incredibly low.
Below are some startling statistics regarding multi-level marketing you need to be aware of.
Why MLM Success Rates Are Abysmal
- 99%: According to the Federal Trade Commission this is the number of all MLM participants who lose money
- You are 38%: more likely of making money with your own small, home-based business than by joining an MLM
- There is a 10% – 20% higher rate of making a profit with an online business than it joining an MLM
- You would have a 300 times higher chance of winning a game of roulette in Las Vegas from 1 single spin of the wheel than you would making a profit with an MLM
- 47%: The number of participants who flat-out lose money according to the AARP Foundation
- 27%: the percentage of people who make no money whatsoever in a MLM – AARP Foundation
- 26%: The meager amount of people who actually earn a profit participating in MLM’s
- 53%: This is the percentage of MLM participants who earn less than $5000 a year
- 39%: the number of people who QUIT MLM’s because of trying to sell services and products to family and friends damaged their relationships
- 50%: Percentage of MLM reps who quit within 1 year after joining
- 95%: The respective number of reps who quit within 10 years
- 75%: The number of people who have participated and left an MLM and state that they would never join another MLM in their life
- 1,049: The number of MLM reps who make less than 70 cents an hour according to a 2018 poll of MLM reps representing various companies
- 20%: of people involved with MLM’s never made a sale
- 60%: percentage of people involved with MLM’s earned less than $500 within the last 5 years of joining
- 32% of people involved with MLM’s financed their MLM “business” by getting in creditcard debt
References
References for the above facts are from the following sources:
- The Case (for and) against Multi-level Marketing By Jon M. Taylor, MBA, Ph.D., Consumer Awareness Institute
- 3 Mind-Blowing Statistics About MLM’s: Due.com
- Multi-level marketing: Wikipedia
- Multilevel Marketing: “The Research, Risks and Rewards”: AARP
There Is A Better Way To Learn How To Make Money Online
The biggest problem with MLMs like this is that you are at the mercy of the company and its products.
And if you don’t get good support from the company, you will never succeed.
The minute your team starts quitting, it’s the beginning of the end of whatever success you’ve managed to achieve.
People enjoy the idea of MLMs because they think that all they have to do is sell products.
When in reality, it’s usually much more than that.
Your first clue is the amount of money you have to invest before you sell your first product.
My question to you is Do you REALLY want to make a life-changing income?
A “life-changing” income is an income that allows you to make real choices in your life. You’ll never have to make a decision based on “what’s the cheapest” or “what’s on sale.”
You’ll buy what you want, when you want it – and ALL of your bills are PAID in advance!
Money will never be an issue in your life because you’ve learned how to make more money in 1 month than many people make in a year!
That’s a truly life-changing income!
If you want more information explaining how creating a life-changing income is possible through affiliate marketing, click on the banner below.
Talk Soon,
Howard
