There are so many things that happen in our day-to-day lives that we are generally not able to predict the future. Some people seem to be able to get some idea of what the future holds, though how much of that is a self-fulfilling prophecy is uncertain. The rest of us live in an uncertain world and need to make provision for as many different incidents as possible. That is what insurance is for. So, how do you prepare for the event where you may need law advice?
The best way to do this is by getting a legal cover policy in place. This is one of the insurance policies that a lot of insurance companies are starting to bring out. They have realised that law advice and other legal costs are beyond the means of most people. Fortunately these legal insurance policies are actually pretty affordable. Here is how it all works.
The first thing to note is that, like all other insurance policies, legal insurance has limits. The premium that you pay each month will be dependent on how much legal insurance you take out and that amount of legal insurance will be your limit for that policy. It is a lot like life insurance where you pay a premium each month and the payout value will increase each year based on inflation and the premium you are paying. When it is time for the insurance policy to pay out you will be able to get a maximum payout equal to the value of the policy at that particular point in time. Unlike life insurance where you can only claim once, legal insurance can be claimed piecemeal and the policy has a running total of the value of the claims that have been made.
What legal insurance does is pay for your legal assistance. This means that if you need law advice and would have to consult with an attorney in person you will be able to get an appointment with one of the attorneys that are affiliated with the insurance company underwriting your insurance policy and not have to directly pay for the consult. This saves you the hassle of trying to find the money to pay the attorney.
A lot of the legal insurance policies will also offer you a few free things. Some will not make you claim for uncontested divorces. Some will allow you to get free law advice over the phone form particular attorneys. This does help make up for the premiums you pay each month if you never need to make use of the entire value of your legal insurance policy.
As you can see, a legal insurance policy is a great idea. You will be able to get help with pretty much any legal situations that you may face without having to take out a personal loan to be able to pay the legal fees. There are a few instances where you will have to pay the equivalent of an excess payment, but that should not be a problem for a law-abiding citizen.