This plan has enough loopholes to look like swiss cheese -
The defense fund is a foundation not underwritten by their insurance company, not subject to the same financial requirements, etc.
Nothing is paid up front, so this does not help the person who is not sitting on ca$h.
They are collecting credit card payment on line without providing specific details of the contractual obligation. Even the words about the grant are vague - it implies, but does not state, the grant will always be granted. It could be all will be granted, or it could be like the car dealer barking "All credit applications will be accepted!".
There is no mention of the specific insurance company, it's AM Best rating, or aggregate coverage limits (if any) on the master policy.
Not owning the insurance policy is a detriment, not a benefit - as the customer is the CCA, not the buyer. If you own the policy, it cannot be cancelled without a formal notification. There is no requirement that the insurance carrier notifiy all beneficiaries in the event of a cancellation.
They use the term "beneficiary" rather than "additional named insured", so you are probably covered descriptively, not with the iron clad obligation of being listed in the policy.
This trick of reselling the right to be a beneficiary on someone else's insurance skirts VERY close to offering insurance, and some state insurance commissioners may not buy the claim the CCA is not selling insurance.
Although it is against public policy to insure against criminal penalties, I very much doubt prepaid legal that pays benefits prior to conviction is illegal - but they hang their hat on this to deny coverage until after the acquittal - which is a rare beast. Once someone is threatened with trial, and the case looks like it's winnable, the pressure for even the innocent person to take a plea deal is tremendous (look at that guy in FL who turned down 5 years probation and got 20 no parole years). Also, in a very justified case charges can be dropped or the subject no true billed after spending tens of thousands on representation. Mighty convenient how this is not covered.