Lawyers Can Make Money This Way?

Previously shared that lawyers can help negotiate lower loan interest rates and take a commission from the savings. Loan amounts are substantial—easily tens of thousands of dollars per case.

Recently saw another similar legal service in a group chat: helping clients apply for insurance refunds. These lawyers can typically recover the full premium (self-filing usually only gets about one-third back, if anything). The lawyer takes 30% of the refunded amount. For example, on a $100,000 premium, self-filing might only recover $20,000+, but through the lawyer, the client gets the full $100,000 back. After the lawyer's $30,000 cut, the client still walks away with $70,000—far better than doing it alone. So the insurance refund assistance market is quite promising, especially given that many families upgraded their insurance as their finances improved, and now during an economic downturn, more people are cashing in policies to supplement household budgets.

Key tip: competent lawyers work on a contingency basis—you only pay them after you've received your full refund. They don't charge upfront. Be careful not to get scammed.