You will have seen all the commercials lately that are advertising the Life Lock identity theft protection plan. With identity theft cases being on the increase and considering the time and hassle it takes to sort out a life affected by it, some people are still unsure whether it’s worth the investment in Life Lock or any of the other identity theft protection plans on offer.
No one knows whether your situation makes it appropriate for you to sign up with Life Lock or a similar identity theft protection plan except you but it is certainly worth considering the benefits you will receive should you sign up.
The Life Lock identity theft protection plan includes a credit monitoring service which checks your credit file with the 3 major bureaus and contacts you every time there is a change to the file. Obviously your file will be changing and adjusting all the time because of legitimate reasons so a change doesn’t necessarily mean anything is wrong.
It is useful information though because if for instance Life Lock contacted you and said “you requested credit for a new flat screen TV today” and you know neither yourself or your spouse were in the market for a new TV, you instantly know someone is going around using your identity to try and purchase goods.
By alerting Life Lock that this was not in fact you they can swing into action and do their thing. Life Lock can lock down your identity immediately and prevent any further problems. Without Life Lock though, there is nothing stopping the identity theft criminal from taking delivery of his new TV and anything else he wishes to buy.
Life Lock and similar identity theft protection plans will request your free credit report on your behalf and make sure you get it twice a year. Keeping an eye on your credit score is a smart way to spot any fraudulent activity. A sharp drop when you know you haven’t missed any payments on the car for instance should set the alarm bells ringing.
The credit bureaus sell your details to credit card and loan companies. Your details are worth a lot of money to them. Imagine doing a mail shot knowing every single person receiving your credit card or loan offer is affluent enough to be accepted should they take up your offer? That’s how valuable your details are to Experian and Co.
The trouble with selling your details though is that the more people see those details the greater the risk of your identity falling into the wrong hands. Life Lock and other identity theft protection plans understand this so use sophisticated techniques to monitor the web and other data entry points for your personal information such as social security number and credit card details.
Many identity theft protection plans offer some form of insurance just in case your identity should get stolen. Life Lock offer a $1 million guarantee but that doesn’t mean you become a millionaire because someone managed to fill their gas tank with a credit card in your name. What it does mean though is that Life Lock will cover any losses you incur because of it although if they were driving a 4×4 it probably is close to a million! Losses Life Lock will cover include fixing your credit, dealing with the card companies on your behalf, any legal costs etc. Basically they guarantee that you will never be out of pocket due to identity theft while under their umbrella.
Life Lock and similar identity theft protection plans are very reasonably priced. Life Lock for instance is available for just $10 a month (if you click on this link) and so are obviously great value. You can of course do a lot of the things Life Lock do your self (except provide yourself with a guarantee) but just as most people may choose to have someone else service their car or clean their windows, they choose Life Lock to handle their identity protection.
They choose Life Lock or one of the other identity theft protection plans for the convenience and piece of mind that comes with knowing someone who knows what they are doing is handling it and for the knowledge that should they mess up, the work comes with a guarantee.
Check out more details about the Life Lock identity theft plan by clicking here.
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