As workers face mounting stress related to personal financial crises and real estate foreclosures, an increasing number of companies are responding by offering group legal plans as a voluntary employee benefit.
“I believe the recession has dramatically increased the need for legal services,” says Marcia Bowers, sales and marketing director for Hyatt Legal Plans (www.legalplans.com), a wholly owned subsidiary of MetLife, Inc. “We thought 2009 might be a bit of a tough year, but the economic downturn has fueled demand.”
Sales and requests for information about the company’s legal plans have increased. And, comparing the first quarter of 2008 and 2009, usage by employees is “very high,” especially for services related to bankruptcy, debt collection issues, home equity and real estate matters, preparation and review of mortgages, and property tax assessments, according to Bowers.
What Is a Group Legal Plan?
“A group legal plan is much like a group dental or group medical plan,” she explains. It is an employee benefit offered by an employer to employees. “Generally, it’s 100 percent employee-funded through payroll deductions; however, some employers pick up part or all of the tab.”
Employers usually offer a legal plan as a benefit to employees during open enrollment, and an average of 8 percent of eligible employees typically enroll, Bowers says.
Group legal plans provide employees with access to a network of attorneys, who provide legal advice for a variety of issues, such as financial and realAs workers face mounting stress related to personal financial crises and real estate foreclosures, an increasing number of companies are responding by offering group legal plans as a voluntary employee benefit.
“I believe the recession has dramatically increased the need for legal services,” says Marcia Bowers, sales and marketing director for Hyatt Legal Plans a wholly owned subsidiary of MetLife, Inc. “We thought 2009 might be a bit of a tough year, but the economic downturn has fueled demand.”
Sales and requests for information about the company’s legal plans have increased. And, comparing the first quarter of 2008 and 2009, usage by employees is “very high,” especially for services related to bankruptcy, debt collection issues, home equity and real estate matters, preparation and review of mortgages, and property tax assessments, according to Bowers.
What Is a Group Legal Plan?
“A group legal plan is much like a group dental or group medical plan,” she explains. It is an employee benefit offered by an employer to employees. “Generally, it’s 100 percent employee-funded through payroll deductions; however, some employers pick up part or all of the tab.” Employers usually offer a legal plan as a benefit to employees during open enrollment, and an average of 8 percent of eligible employees typically enroll, Bowers says.
Group legal plans provide employees with access to a network of attorneys, who provide legal advice for a variety of issues, such as financial and real estate matters, estate planning, civil lawsuits, traffic violations, adoption, preparation of mortgages and other legal documents, and elder law.
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