Pre-Paid Legal: Great Business Model, Few Competitors

by louabbott on May 18, 2007

May 18, 2007

Pre-Paid Legal Services (PPD) is a company that sells exactly what its name states, pre-paid legal services. This is how it works: a customer signs up and agrees to pay $20 per month. Customers receive a certain amount of legal services from local lawyers, who are part of Pre-Paid’s provider law firms, for the time they are members.

Some of the lawyer services that are provided for the standard fee are: “standard plan benefits include preventive legal services, motor vehicle legal defense services, trial defense services, IRS audit services and a 25% discount off legal services not specifically covered by the Membership.”

Its main competition consists of Hyatt Legal Plans, ARAG[R] North America, and National Legal Plan and Legal Services Plan of America, but most of its competition markets to bigger employers. According to Pre-Paid, its target market consists of around 100 million households, and it currently has 1.5 million households as subscribers.

Read the entire article at Seeking Alpha

Also, read our company overview:  Pre-Paid Legal Facts, News and Review

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