You May Need Legal Counsel At Some Point
January 18, 2012 by Answer Provider
There are plenty of things that take place in our day to day lives that individuals are generally not in a position to predict the future. Some people seem to be capable of getting some idea of what the near future holds, however just how much of that is a self fulfilling prophecy is unsure. The rest of us live in an uncertain world and need to make provision for as many different situations as possible. That is what insurance coverage is for. So, how do you get ready for the event in which you may need law advice?
The best way to do that is by getting a legal cover policy in place. This is one of the insurance plans that a lot of insurance companies are starting to bring out. They’ve realised that law advice and other legal costs are beyond the means of most people. Fortunately these legal insurance policies are actually fairly affordable. Here is how it all works.
The first thing to note is that, like all other insurance plans, legal insurance coverage has limits. The actual premium that you pay each month will be dependent on just how much legal insurance coverage you take out and that amount of legal insurance will be your limit for that policy. It is a lot like life insurance in which you pay a premium each month and the payout value increases each year according to rising cost of living and also the premium you’re paying. When it is time for the insurance plan to pay out you’ll be able to get a maximum payout equal to the value of the policy at that particular point in time. In contrast to life insurance where you can only claim once, legal insurance coverage could be claimed piecemeal and the policy has a running total of the value of the actual claims that have been made.
What legal insurance does is pay for your legal assistance. This means that if you want law advice and would have to talk to a lawyer in person you will be able to get a scheduled appointment with one of the attorneys which are associated with the insurance company underwriting your insurance policy and not have to directly pay for the actual consult. This saves you the hassle of attempting to find the money to pay the lawyer.
A lot of the legal insurance plans will also offer you a couple of free things. Many will allow you to get free law advice over the telephone form particular attorneys. This may help to make up for the premiums you have to pay every month if you will never need to make use of the entire value of your legal insurance plan.
As you can see, a legal insurance plan is a great idea. You will be able to get help with pretty much any legal situations that you might encounter without needing to take out a personal loan as a way to pay the legal fees. There are some situations in which you will need to pay the equivalent of an excess payment, but that should not be an issue for a law abiding resident.