A Review on Prepaid Legal Services - The Business Opportunity
December 16, 2008
7:00 AM
Prepaid Legal Services is a 36 year old company based in Ada,
Oklahoma. The company markets a life events legal plan that helps individuals,
families and small business owners get access to certain legal services for a
small monthly fee.
The company uses several methods of marketing. One method is
network marketing. Distributors are able to
build a downline based on the concept of sharing the with others about the
services.
Prepaid Legal - A Unique Product
One benefit that Prepaid Legal Services offers as a
network marketing business
opportunity is a very unique product. There are only a few companies that
offer similar products and Prepaid Legal Services is the undisputed leader of
its industry.
This gives its distributors a major advantage. They don't have to worry about
trying to convince prospective clients that what Prepaid Legal offers is better
than what the client is using. With less than 2% market penetration in North
America chances are the prospective client doesn't own a legal service product.
The legal product comes with a variety of different iterations allowing
distributors to target specific niches. There is a product for families, a
product for commercial drivers, a product for business owners and even products
for police officers and teachers.
The company also offers an identity theft shield product. As you know identity
theft is one of the fastest growing crimes in the world right now. This product
makes the perfect add on to the legal product. In many cases if you are a
victim of identity theft you will need an attorney to correct the problem.
Prepaid Legal Services Compensation Plan
The company offers a very lucrative compensation plan. Unlike most network
marketing companies that pay monthly residuals, Prepaid Legal will actually
advance you a year's worth of residuals up front.
For example, at the entry level anytime you make a sale of its $26 a month
membership, the company will pay you $25. Upon making your first 5 sales or
recruiting your first 3 business partners within a 45 day period, the company
immediately promotes you to the next level where you now make $75 on the sale of
its $26 a month membership.
These advances increase as you move up the compensation plan. For example, at
the Manager level, which is the 4th level in the compensation plan,
you earn $125 on a $26 a month membership. At the Executive Director level, you
earn $182.50 on a $26 a month membership. Add on the identity theft shield to
the sale and the commissions are even higher.
The company also pays you an override spread based on the difference between the
level you are at and the level the distributor on your team who makes the sale
is at. So for example, if you are at the Manager level and you recruit a new
distributor, you earn a $75 advance for your new distributor making a $26 a
month sale.
Prepaid Legal Business Disadvantages
There are some disadvantages to Prepaid Legal that you need to be aware of.
If the customer cancels the service before the advanced period expires, you are
assessed a chargeback. This is common in the insurance industry but is likely
very foreign to people outside of the insurance industry.
When a chargeback occurs, the company deducts the amount charged back against
the next commission check. So if you are making $100 a sale and you get a $50
chargeback, on your next $100 sale, the company will deduct $50 and pay you the
remaining $50.
Also, once you have memberships that have been on the books long enough to start
earning residuals; those residuals go toward paying down your debit balance
first. This is the difference between what was advanced to you and what has
already earned out.
Only after your debit balance is paid off do those residuals start going to
you. This isn't necessarily a bad thing but it is something you need to be
aware of and you will probably not know about it unless you read the fine
print.
Prepaid Legal seems to be a solid company with lots of people who are having
success. If it's something that is interesting to you go for it!
A Review on United First Financial - The Business Opportunity
December 14, 2008
10:00 PM
United First Financial offers a financial program designed to
help consumers pay off their mortgage and other debts in a fraction of the time.
The success of the company is found through its innovative Money Merge Account.
As an independent agent with this network marketing company
you are able to offer these services to others and earn a substantial income in
the process. By offering the Money Merge Account program you help clients
save thousands of dollars in interest.
United First Financial's Product - The Money Merge Account
United First Financial has a single product known as the Money Merge Account.
This program is designed to help its customers answer a very simple yet
complicated question. The question is "what is the fastest way to pay off all
of your debt?"
Most people have multiple debts with a wide range of interest rates. Because of
this as well as a lack of understanding of how interest works, most people
simply don't understand how to determine the fastest and most efficient way to
pay off their debt.
United First Financial offers its Money Merge Account program to help consumers
solve this problem. They do this by taking various financial strategies and
programming them into a web based software application that the clients can use
to figure out the best strategy for their specific financial situation.
As a client of the program you get access to the Money Merge Account web based
software. You also get access to financial coaching and training, a
comprehensive budget program and more.
United First Financial Compensation Plan
As a United First Financial independent agent you have the ability to start
your own business offering the Money Merge Account program to others. You
can also build your own company by recruiting other agents and teaching them to
offer the program as well.
The Money Merge Account program costs $3,500. The company keeps $1000 and pays
out the remaining $2,500 to the agents in the field based upon where the sale
was made and where each agent above the agent that made the sale is in the
compensation structure.
As a new agent, you start off at the Associate level in the United First
Financial pay plan. The commission rate for this level is $900. However,
because you are new, you must split your first two sales with your trainer.
This means you will earn $450 a sale.
You move up the compensation plan based on the number of sales you make
personally as well as the number of sales your team makes. For instance, to get
to the next level, which is Senior Associate, you need to make your first sale
within 45 days, your first two sales within 60 days or have you and your team do
5 sales, 2 of which you did personally.
As you move up the compensation level you earn higher commissions for your
sales. Commissions range from $900 at the Associate level to $1575 at the
Branch Manager level. You also earn overrides based on the difference between
your level and the level of the agent that makes the sale.
Building a United First Financial Business Using Internet Marketing
There are many agents in United First Financial that are using internet
marketing strategies for the purposes of building clients as well as
recruiting agents. Just do a search online and you will see a number of agents
with their web pages.
If you decide to get involved with this opportunity, this is the way we
recommend that you build your business. There is a seemingly endless source of
keywords that you can target that will help you attract clients and new agents
to your business.
The key to doing this successfully is you must learn how to build content rich
web pages that will get ranked in the search engines. By doing this, it will
allow you to attract people who are searching for words and phrases related to
your product and business.
Building A United First Financial business opportunity using internet network
marketing will allow you to tap into an massive source of prospects both for
clients and for agents. Many of these prospects have the money to invest and
are looking for what you offer.
Since 1977, Primerica has been
changing lives through its "buy term and invest the
difference" financial crusade. Founded by a high school football coach, Arthur
Williams, the company now has over 6 million clients and over a hundred thousand
distributors.
Primerica Financial Services
Primerica offers a number of financial services designed to help middle class
families to be able to get ahead financially. As a Primerica representative
there are a number of services available to offer your clients.
The "bread and butter" of the company is its Term life insurance program. By
offering term life insurance you are able to help families get coverage for a
lower monthly premium but a higher death benefit.
Since term life insurance doesn't combine investment with insurance, the company
offers a number of mutual fund investments you can offer your clients as well.
The company offers other services like loans, auto & home insurance, and even
pre-paid legal services.
Primerica Compensation Plan
Primerica offers a generous compensation plan that rewards you for marketing its
financial services and building an organization that does the same.
To become eligible to earn commissions in Primerica you must become licensed by
completing a series of courses and passing an examination. You will most
certainly need an insurance license and you may also need to complete a series 7
certification.
Each product you offer pays a certain commission. That commission is dependent
upon the amount the client spends and the percentage of commission you are
eligible for based on what level in the company you have achieved.
For example, as a brand new licensed representative for the life insurance
product you earn a 25% commission. The company advances you commissions based on
the idea that the client will pay their premiums for at least a year.
For instance if a client purchases a $1000 annual policy from you, as a
representative you would earn a $250 commission.
To receive your first promotion you must recruit 3 new representatives. This
promotes you to the Senior representative position where you earn a 35%
commission.
You also earn the difference between your commission level and the commission
level of the representatives in your organization for their sales. So if one of
your distributors makes a sale, they get 25% and you get the difference which is
10%.
There are other commission percentages based upon the other products that you
can offer. There are also some products, like the prepaid legal product, where a
set commission is paid to the representative who sold the product.
Can You Build The Primerica Opportunity Using
Internet Marketing?
You can build the Primerica opportunity using internet marketing. There are
several strategies that you can use to do this. Because of the highly regulated
nature of the insurance industry, you need to check with Primerica for
advertising guidelines.
However, even if your advertising capabilities are limited, you can get around
these restrictions by using internet marketing strategies recommended in books
like
The Renegade Network Marketer and
Magnetic Sponsoring.
These strategies focus on attracting network marketing distributors to your
business by offering them information products like reports, audios and videos.
These products should be geared towards helping the distributors build their
current network marketing business.
Most distributors don't have strong leadership to work with to build their
network marketing business which is why they struggle. If you fill that void,
you now have a good chance at getting those distributors to come over to your
business opportunity and work with you personally.
Prepaid Legal Services is a 36 year old company based in Ada,
Oklahoma. The company markets a life events legal plan that helps individuals,
families and small business owners get access to certain legal services for a
small monthly fee.
