News & Updates
The Power of Legal Plans for Small Business Benefits
Buying a home, protecting assets, planning for the future – these things come with so many documents to sign, agreements to draw up, and forms to file that it can make one’s head spin. To make sure paperwork is handled correctly, employees may need to enlist the help of a lawyer.
Unfortunately, not everyone knows where to begin. According to a recent Harris Poll, more than half (54%) of working adults feel unprepared to handle unforeseen legal events. Their top concerns are finding and paying for an attorney when they need one.
That’s where a voluntary legal plan can come in handy. “Group legal plans provide employees access to attorneys for help with common legal issues, like drafting wills and power of attorney documents, buying and selling a home and identity theft matters,” said Ingrid Tolentino, CEO of Hyatt Legal Plans. “The results of [the Harris Poll] show that [people] are in need of affordable access to attorneys for help with these issues.”
Plus, legal fees can really add up making coverage even more appreciated by employees. For an individual, the typical out of pocket attorney costs to create a will can run $580, a home refinance $1,450, an audit $2,900 and foreclosure $4,320* While the annual cost of a legal plan varies by employer, it’s can be an appealing alternative to paying the costs out–of–pocket.
Help your clients take an honest assessment of the needs of their employees and their benefit programs. Legal services may very well be the right fit to help round out the protection employees need.
MetLife has made it easy to start the conversation with your clients. View and share this employee–friendly video to help drive appreciation and participation of this valued benefit.
For questions, please contact a member of your B&P Sales Team -
*Based on the average amount of hours it would take, using the average hourly rate of $290.00/hour based on years of legal experience, National Law Journal and ALM Legal Intelligence, Survey of Law Firm Economics(2013).