Prepaid Legal Service

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Many legal issues are not time critical and can be planned in advance. If this is the case, investigate if your company offers prepaid legal services as part of their benefits package. If they do, this will be a much more cost effective way to get legal advice rather than going to a private attorney.

Arag Group (www.arag.com) is a leader in providing group legal insurance to employers. They provide multiple tiers of service, including unlimited telephone consultation, and in-office meetings with in-network and out-of-network lawyers. As is the case with many health insurance plans, going to an in-network lawyer will be most cost-effective, though the reimbursement for using out-of-network lawyers may still be less expensive than hiring a lawyer on your own outside of the group plan.

Some examples of prepaid legal services that you may have covered under a company plan include the preparation of wills and related estate planning documents, assistance with divorce, adoption, consumer protection, home buying and selling, defense of IRS audits, etc. Many of these issues could be done by yourself, but if you want the benefit of professional representation, choosing a prepaid legal service can be a money-saving alternative.

Prepaid legal insurance is usually offered by your employer during their open enrollment period. This means that if you don’t enroll at that time, you will not have the opportunity to do so for another year, and once you enroll, you are committed to the service for the entire year. Depending on the agreement your company has negotiated, the cost can be as low as $20 per month ($240 per year).