Protection Plus inquiry and debate

[rfassett]

This apparently was something new in 2013 when I was AWOL.  I have done a little research on it and looked over the myprotectionplus website and think I understand what it is about. For $39 I can buy that coverage for my client but charge my client whatever the market will bear, is that correct?  So if I add $50 to everyone's return and pay $39, I have made an additional $11 per return.

 

Now I generally do not like this idea for the same reasons that all those in that camp state, i.e., I would rather have that work for myself and make more than $11.  I get that.  But alot of us, nay, I would say most of us here are one man shops.  Suppose you make it through this season and are struck with a career ending illness or even death.  Who is going to take care of all of that stuff in your absence?  I guess my question is, is this a peace of mind thing for me more than it is for my client?  And maybe I should charge them just the $39 upcharge and see where the dice fall?  And there is nothing written, I believe, that says the Protection Plus benefit MUST be used.  So if we are alive and kicking and here for another round and an opportunity presents, we can still be involved and bill the client.

 

Just some rambling thoughts on a cold snowy and raining day.  I looked outside a little bit ago and the flakes were so big they looked almost like snow balls.

 

I apologize if this Protection Plus debate has already been beat into the ground.  If so, just point me to some of the discussion.

 

Thanks.

[Pacun]

I never even mention it to my clients because it is a rip off. I don't collude to rip off my clients and that's why I don't do RALS or sell protection.

[rfassett]

Expound please, why is it a rip-off.  I am not being argumentative, just wanting to understand.

[Pacun]

Protection plus is a rip off. I also feel that RALS is a rip off.

[kcjenkins]

It might be a rip-off if you pushed it on your clients, but, depending on the type of clients, if you merely offer it, and they WANT it, I don't think I'd go as far as call it a rip-off.  Not something I'd offer, not worth the money in most cases, but not exactly a rip-off, either.  My biggest doubt would be over how good the service would be, if they actually needed to use it?  I've gotten a number of new clients, over the years, from people who bought H&R's "protection" only to get blown off when an issue came up.