ifeLock is one of the world’s most popular identity theft protection services. It uses 5 points of protection for identity theft and they are monitoring, scanning, responding, tracking, and a $1 million guarantee.
- Pricing Packages
- The Good
- The Bad
LifeLock Identity Theft Monitoring
Credit and Noncredit Threats: LifeLock monitors its extensive network for all credit and noncredit threats.
Illegal Personal Information Trading: LifeLock monitors known criminal websites for illegal trading of your personal information.
Free Credit Reports: Enjoy three free credit reports per year from each of the three major credit reporting agencies in the United States.
Mailing List Removal: LifeLock sends contact removal requests to pre-approved credit offer mailing lists, which means less personalized junk mail showing up on your doorstep.
LifeLock Identity Theft Protection
Lost Wallet Protection: LifeLock helps users retrieve the contents of a lost or stolen wallet. When you report a wallet as lost, stolen, or missing, LifeLock will help you contact your bank, credit card companies, and other services to cancel stolen cards.
$1 Million Guarantee: LifeLock will provide $1 million in identity theft protection and repair services if your identity is stolen while subscribed to LifeLock. LifeLock will hire legal counsel and investigators on your behalf.
Access to Fraud Resolution Specialists: LifeLock has excellent customer support that is available 24 hours a day, 7 days a week, 365 days a year. Customers also have access to a team of fraud resolution experts.
Fraud Alerts: Fraud alerts are placed on your credit report every 90 days. This sends out a warning every time somebody tries to use your information
LifeLock Ultimate Bonus Features
Checking and Savings Account Monitoring: LifeLock scans for any changes made to contact information on existing checking and savings accounts.
Comprehensive Online Monitoring: In addition to standard online monitoring, the Ultimate plan includes surveillance of “unregulated global networks and file-sharing sites”.
24/7 Online Access to Annual TransUnion Credit Report and Score: View your latest credit report and score online from TransUnion at any time.
Tri-Bureau Credit Report Alerts: Receive alerts from TransUnion, Equifax, and Experian.
Notification of credit and noncredit threats
Monitoring of illegal trading of personal information
$1 Million Total Service Guarantee
No Setup Fee
Everything in Basic Plus:
Tri-bureau credit report alerts
24/7 online access
Alerts when new bank accounts are opened
The Good on LifeLock
Affordably Priced at $10 Per Month
Identity theft can cost you millions of dollars. You may have to hire legal counsel or deal with high interest rates for years. Removing the effects of identity theft is difficult and time-consuming, which is why it’s easy to appreciate LifeLock’s price point of $10 per month. That rate provides comprehensive identity theft protection. There’s a higher-level plan available for $25 per month and we’ll explain the details of that plan down below. No matter which plan you choose, you can enjoy one free month of service if you pay your subscription on an annual basis ($110 per year on the standard plan and $270 per year on the Ultimate plan)
Comprehensive Identity Theft Protection
Obviously, identity theft protection is what you pay for when you buy LifeLock, and that’s exactly what you get. LifeLock constantly monitors databases for any changes in your personal information. The company also provides change of address alerts to prevent mail identity theft. If your information is ever posted for sale online, LifeLock will notify you as quickly as possible because they constantly monitor online identity theft marketplaces.
Automatic Free Credit Reports
Most people don’t take advantage of their free credit reports. You’re entitled to receive three free credit reports each year from TransUnion, Experian, and Equifax. LifeLock orders these credit reports on your behalf and sends them to your current address. This is an easy and effective way to monitor your credit history and detect identity theft before it becomes a serious problem – of course, LifeLock will usually notify you of potential identity theft long before you see it on your credit report.
$1 Million Guarantee
LifeLock has regularly made headlines for its brazen guarantees. LifeLock CEO Todd Davis’s social security number is widely known because it’s plastered all across LifeLock advertisements (his SSN is 457-55-5462, by the way). That’s how confident Davis is in the services of his company. If that guarantee isn’t enough for you, then here’s another: LifeLock will provide $1 million in legal and investigative services if your identity gets stolen while subscribed to LifeLock. Clearly, the company is confident about its services and wants customers to know it.
Help Lines Available 24/7/365
LifeLock is seriously committed to tech support. Its award-winning customer service representatives are available 24 hours a day, 7 days a week, 365 days a year. Obviously, identity theft never sleeps, so it’s reassuring that LifeLock will be there for you when you need it most. In addition, a team of fraud resolution experts are available whenever you need them.
Lost Wallet Remediation Services
Lost wallet remediation is one overlooked service offered by LifeLock. Lost wallet remediation helps you deal with the aftermath of a lost or stolen wallet. A LifeLock specialist will help you contact your bank, credit card companies, and any other services you may have had in your wallet. This will cancel your existing credit cards, order new cards, and place alerts on your account to ensure the thief doesn’t have full access to your wallet.
Better Value than Credit Monitoring Services
LifeLock offers similar service to credit monitoring companies. However, calling LifeLock a credit monitoring service wouldn’t be fair: it does so much more than that. Furthermore, credit monitoring services are typically much more expensive and can cost anywhere from $20 to $50 per month. LifeLock offers superior service at a more affordable rate.
Additional Features Available With LifeLock Ultimate
The majority of LifeLock subscribers use the standard LifeLock plan and are perfectly happy with it. However, there’s a LifeLock Ultimate plan which costs 2.5 times as much and offers a few extra features that you may find useful. Those features include alias name and address monitoring, court records scanning and notifications, file-sharing network searches, sex offender registry reports, unauthorized payday loan notifications, and more. It’s a more comprehensive form of identity theft protection, and you may decide the extra features are worth $25 per month.
The Bad on LifeLock
You Can Order Your Own Credit Reports for Free
One small complaint about LifeLock is that one of its central services – credit card report ordering – is fairly easy to perform yourself. Anybody can order three free credit reports at the AnnualCreditReport.com website, although LifeLock does this for you automatically. Of course, LifeLock does a lot more than just process credit report orders on your behalf: the service also performs a bunch of other useful tasks. You might argue that the Ultimate plan isn’t worth $25 per month, but $10 per month is a miniscule price to pay for the peace of mind of identity theft protection. Another complaint regarding credit reports is that all three credit reports are ordered at the same time, whereas some customers would prefer to spread their credit reports throughout the year – say, every four months.
No More Instant Credit Approvals
LifeLock protects your identity wherever you go. One major element of identity theft protection is fraud alerts whenever you apply for credit. After subscribing to LifeLock, banks and lenders must go through an additional verification process to ensure your identity isn’t being fraudulently used. The best way to avoid this “problem” is to setup your cell phone as the contact number, which will allow you to be contacted more quickly. However, most LifeLock customers appreciate this extra step and it’s generally not a major issue.
No Online Cancellation
LifeLock lets you easily sign up for their services online, but you must cancel your service over the phone. You will need to contact the customer service phone line in order to cancel LifeLock. This is still a fairly simple process, but it’s not as simple as checking off a box online.
The Verdict on LifeLock
Over 10 million Americans are victims of identity theft every year. These innocent victims often lose credit card data, social security numbers, names, addresses, birthdates, and other personal information. Identity theft is devastating and unfortunately, most people still have the mistaken idea that it will never happen to them.
In this day and age, that’s simply not true. Identity theft protection is quickly becoming a required service across America. You can perform many of the LifeLock checks on your own – you can order regular credit reports, for example. But at a cost of $10 per month, you can avoid all that hassle and enjoy the peace of mind provided by the LifeLock $1 million guarantee.
Whether young or old, rich or poor, everybody is a potential target for identity theft. Act now before it’s too late and sign up for LifeLock today. It’s the industry leader for a reason.