Legal Expense Insurance. The future of lawyering?

(housing, friendships, future exams, all things 2012)

Are legal expense insurance plans the future?

No, they're probably not worth the cost and will likely not become so.
1
14%
Yes, they're worth the cost or will be in the foreseeable future.
6
86%
 
Total votes: 7

User avatar
Drake014
Posts: 886
Joined: Tue Jan 13, 2009 4:22 pm

Legal Expense Insurance. The future of lawyering?

Postby Drake014 » Sat May 02, 2009 2:33 pm

There's been a lot of discussion about there being too many lawyers in the US currently. This is possible, but could it lead to new services that might bring greater equality in our justice system?

I have an acquaintence who sells a form of Legal Expense Insurance. The most popular company for it in the US, to my knowledge, is Prepaid Legal Services. Basically, its like medical insurance. You pay let's say $30 a month and if you ever get a traffic ticket, sued, custody battle, or just need to call for quick legal advice, you get it. Apparently, this has been popular in Europe for a very long time. I, personally, have had access to the NAR legal resources because I'm a member. Even though they only handle real estate related law, having them to call has been extremely helpful to me outside of my professional use. I'm sure neither NAR or Prepaid Legal Services are the best legal aid, but they're certainly better than nothing. The only question that remains, is legal expense insurance worth the present and/or future cost?

Here's a couple of articles that touch on the subject if you feel like reading one:

--LinkRemoved--

http://www.thecanadianencyclopedia.com/ ... RTM0013358

User avatar
Cleareyes
Posts: 408
Joined: Thu Feb 19, 2009 5:59 pm

Re: Legal Expense Insurance. The future of lawyering?

Postby Cleareyes » Sat May 02, 2009 2:36 pm

It will likely have a role to play, but I'm not a huge fan.

LMO's anyone?

User avatar
Drake014
Posts: 886
Joined: Tue Jan 13, 2009 4:22 pm

Re: Legal Expense Insurance. The future of lawyering?

Postby Drake014 » Sat May 02, 2009 2:39 pm

Cleareyes wrote:It will likely have a role to play, but I'm not a huge fan.

LMO's anyone?


I'm not a huge fan of HMO's either but they're preferable over not being insured. I think just like HMO's, this is aimed at the middle class or lower or small businesses--people who can't normally afford a lawyer.

I just think its a possible rebuttle to all the people saying we need to shut down half of the existing law schools or those who say we have too many lawyers. I've probably made a claim like that myself in the past.




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