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I use their service and like it.
Jim Bronke
Phoenix, AZ
----- Original Message -----
From: "jpaladin" <jpaladin@xxxxxxxxxxx>
To: "Paul Altman" <paulha@xxxxxxxxxxxxx>
Cc: <omega-list@xxxxxxxxxx>
Sent: Tuesday, March 26, 2002 11:52 AM
Subject: Re: Pre-Paid Legal
: I have had Pre-Paid Legal since 1995 and I can attest to the fact that
: sometimes you get good legal advice and sometimes you get useless advice
: from their lawyers. The attorney's that work for the law firm you are
: assigned to in your state are not the cream of the crop. Still, I have
used
: their services on a regular basis and I wouldn't go without it.
:
: Best Regards,
: John Theo
:
: > Folks:
: >
: > In my latest dealings with yet another salesman promising me something
for
: > nothing, I've been approached by a Pre-Paid Legal (NYSE:PPD)
: > salesman. This is yet another annoying multi-level-marketing scheme, in
: > this case to provide legal insurance to the masses.
: >
: > Naturally, I've been unable to get them to give me a simple, horsey and
: > duckey, explanation of their business model. Mostly the pitch is that
: > "everyone else except you is buying legal insurance, and it's terribly
: > exciting." The only substantive info I've been able to get is that it's
: > $26/month, and that approx 1/3 goes to the salesmen out in the MLM tree,
: > 1/3 goes to corporate, and 1/3 goes to the law firm.
: >
: > My question: why would any law firm be willing to lay off all of PPD's
: > insurance risk, for a mere $8.33/month? Sure, some customers will go
: > months or years before using the service, but it wouldn't require much
: > customer time, for a law firm to go broke.
: >
: > And if it's such a great business for the law firms, why don't they fire
: > PPD and pool together to create their own competition to PPD?
: >
: > I just don't get how this business works. Any comments?
: >
: > Paul
: >
:
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