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What is LifeLock?
LifeLock is a well-established identity theft protection company that has been offering its services since 2005. Founded by Robert J. Maynard Jr. and Todd Davis, the company’s mission is to help protect consumers from the ever-evolving threats of identity theft. LifeLock provides a comprehensive suite of services designed to monitor personal information, alert customers of potential threats, and assist in the recovery process if identity theft occurs.
LifeLock Features
- Identity and Social Security number alerts: LifeLock continuously monitors your personal information, including your Social Security number, across a wide range of databases and sources. If any suspicious activity is detected, such as your information being used to open new accounts or make unauthorized transactions, LifeLock will promptly alert you via email, phone, or text message.
- Credit monitoring and alerts: LifeLock keeps a close eye on your credit files with the three major credit bureaus – Experian, Equifax, and TransUnion. If any changes or new accounts appear on your credit reports, LifeLock will notify you, allowing you to take swift action if the activity is unauthorized.
- Dark web monitoring: The dark web is a hidden part of the internet where criminals often buy and sell stolen personal information. LifeLock scans the dark web for any traces of your personal data, such as your Social Security number, driver’s license number, or credit card numbers. If your information is found, LifeLock will alert you and provide guidance on the next steps to take.
- Stolen funds reimbursement: In the unfortunate event that you become a victim of identity theft, LifeLock offers stolen funds reimbursement. This means that if money is stolen from your accounts due to identity theft, LifeLock will reimburse you for the lost funds, up to the limit specified in your plan.
- Personal expense compensation: Identity theft can lead to various out-of-pocket expenses, such as costs associated with notarizing documents, mailing documents, or hiring lawyers. LifeLock provides compensation for these personal expenses, helping to alleviate the financial burden of resolving identity theft issues.
- Coverage for lawyers and experts: If your identity is stolen, LifeLock will provide access to lawyers and experts who can guide you through the recovery process. These professionals can help you navigate the complex legal and financial aspects of identity theft, saving you time and reducing stress.
LifeLock Plans and Pricing
LifeLock offers three main plans to cater to different levels of protection and budgets:
- LifeLock Standard: This entry-level plan includes basic identity theft protection features such as Social Security number and credit monitoring, lost wallet protection, and up to $25,000 in stolen funds reimbursement. The Standard plan is priced at $9.99 per month or $109.89 annually.
- LifeLock Advantage: The mid-tier plan provides enhanced protection, including all the features of the Standard plan, plus additional benefits such as bank account and credit card activity alerts, data breach notifications, and up to $100,000 in stolen funds reimbursement. The Advantage plan costs $19.99 per month or $219.89 annually.
- LifeLock Ultimate Plus: As the most comprehensive plan, Ultimate Plus offers the highest level of protection. It includes all the features of the Advantage plan, as well as additional services such as annual credit reports and scores from all three credit bureaus, 401(k) and investment account activity alerts, and up to $1 million in stolen funds reimbursement. The Ultimate Plus plan is priced at $29.99 per month or $329.89 annually.
It’s important to note that while these prices are accurate as of August 2023, they may be subject to change in the future. Additionally, LifeLock often runs promotions and discounts, so it’s worth checking their website for any current offers.
Pros and Cons of LifeLock
Advantages:
- Comprehensive identity theft protection services
- 24/7 monitoring of personal information across multiple sources
- Prompt alerts for suspicious activity
- Stolen funds reimbursement and personal expense compensation
- Access to lawyers and experts for identity theft recovery assistance
Potential drawbacks:
- Higher pricing compared to some competitors
- Some features, such as credit monitoring, may be available for free through other services
- No antivirus or device protection included (these may be offered as add-ons)
LifeLock vs. Competitors
To make an informed decision, it’s essential to compare LifeLock with other popular identity theft protection services:
- IdentityForce: IdentityForce offers similar features to LifeLock, including credit monitoring, dark web scanning, and identity theft insurance. One unique feature of IdentityForce is its medical ID fraud protection, which monitors for fraudulent use of your health insurance information. IdentityForce’s pricing is comparable to LifeLock, with plans starting at $9.99 per month.
- ID Watchdog: ID Watchdog provides a range of identity theft protection services, including credit monitoring, dark web surveillance, and identity theft resolution support. One standout feature of ID Watchdog is its credit freeze assistance, which helps you place and remove credit freezes with the three major credit bureaus. ID Watchdog’s plans start at $14.95 per month.
- Experian IdentityWorks: Offered by one of the three major credit bureaus, Experian IdentityWorks focuses on credit monitoring and identity theft protection. It provides daily credit monitoring, credit reports and scores, and dark web surveillance. Experian IdentityWorks also offers a unique feature called Experian CreditLock, which allows you to instantly lock and unlock your Experian credit file. Plans start at $9.99 per month.
When comparing these services, consider factors such as pricing, specific features offered, and the level of insurance coverage provided. It’s also essential to read customer reviews and testimonials to gauge the effectiveness and user experience of each service.
Customer Reviews and Testimonials
Many LifeLock customers have reported positive experiences with the service, praising its comprehensive monitoring and timely alerts. One customer shared, “I was skeptical at first, but LifeLock has really delivered. They caught an attempt to open a fraudulent credit card in my name and helped me resolve the issue quickly.”
However, some customers have expressed concerns about the cost of LifeLock’s services, especially compared to other identity theft protection options. Another customer mentioned, “While I appreciate the protection LifeLock provides, I do find the monthly cost to be a bit high. It would be nice if they offered more affordable plans for those on a tight budget.”
Final Thoughts
In summary, LifeLock is a reputable and comprehensive identity theft protection service that offers a wide range of features to help safeguard your personal information. With plans catering to different protection needs and budgets, LifeLock can provide peace of mind in an increasingly digital world.
When choosing an identity theft protection service, consider your specific needs and budget. Compare the features, pricing, and customer reviews of various services to find the one that best suits your requirements. Keep in mind that while these services can significantly reduce the risk of identity theft, no service can provide 100% protection. It’s still essential to practice good digital hygiene, such as using strong passwords, being cautious when sharing personal information online, and regularly reviewing your credit reports for any suspicious activity.
Ultimately, LifeLock is a strong contender in the identity theft protection market, offering a robust set of features and reliable customer support. By investing in a service like LifeLock, you can take proactive steps to protect your identity and minimize the potential impact of identity theft on your life.