Lifelock Company Profile

Lifelock is headquartered in Arizona and is the industry leader in the Identity Theft Protection Industry. They are most famous for their creative marketing campaign where the Lifelock CEO, Todd Davis gives out his social security number. The company has also pioneered the 1 Million Service Guarantee that competitors have imitated. Robert Maynard , Todd Davis’s co-founder and Chief Marketing Officer had to spend seven days in jail as a result of identity theft in 2001. This ordeal inspired both of them to create Lifelock, a proactive identity theft prevention company.

Rationale

Lifelock will place and renew fraud alerts on your behalf with all the three major credit bureaus. This will restrict access to your credit report and significantly reduce the risk of identity theft. Very recently Lifelock modified this system to include their version of credit monitoring with the launch of their Lifelock Identity Alert™ system which acts as an early warning system. Lifelock Identity Alert™ will alert you by email, postal mail, or phone whenever they detect your personal information being used to apply for many forms of credit cards, wireless services, retail credit, utilities, check orders/reorders, mortgage loans, auto loans, and non-credit related payday loans.

In addition this proactive protection, Lifelock protects you with their $1 million Total Service Guarantee. If you are a victim of identity theft because of a failure in their service, they will spend up to $1,000,000.00 to correct it.

How Do They Protect You?

• Lifelock Identity Alert™

An early warning system, Lifelock will alert you if they detect your personal information being used to apply for unauthorized forms of credit.

• Fraud Alerts

Lifelock will place and renew fraud alerts on your credit file with Experian, Equifax, and Transunion. This requires the credit bureaus to verfiy your identity before issuing credit, usually by calling your phone number on file.

• Removal from Marketing Lists

Lifelock will remove your name from marketing lists advertisers use to send you pre-approved credit offers and junk mail. This is one of the many ways thieves steal identities.

• Annual Credit Reports

Lifelock will order credit reports from the three major credit reporting agencies and have them delivered to you for review.

• eRecon™

eRecon regularly scans the internet for your private information including social security number, credit cards, driver’s license, and other sensitive data to protect it from being sold or traded online.

• TrueAddress™

TrueAddress scans address databases nationwide to detect if anybody has made unauthorized changes to your address. This is a common technique identity thieves use to steal mail and your financial information.

• WalletLock™

In the case your wallet or purse is stolen or lost, Lifelock will assist you in canceling and replacing your affected accounts.

• 24/7 Customer Support

If you have any questions or need immediate assistance, Lifelock has protection specialists to help you 24 hours a day, 7 days a week.

• 1 Million Dollar Service Guarantee

Lifelock will spend up to $1 Million Dollars to restore your good name if your identity is stolen while under their protection. They will hire investigators, accountants, or any other professional required to recover from identity theft. It is important to note that this guarantee does NOT cover lost wages.

What Do They Do Better Than Anybody?

Lifelock must be credited for the dramatic increase in the public’s awareness of identity theft. They have spent millions in advertising the benefits of their protection service and their innovative unique approach to the problem of identity theft. Few people have not heard or seen the many televison, print, or radio advertisements of Todd Davis and his social security number. It is no surprise Lifelock is the industry leader in identity theft protection services.

Most of the products Lifelock offers have been duplicated, added to, or offerred at lower prices by their competitors. However, no other company has stronger brand recognition in the market place which is the result of their superb management team. One of the many reasons for Lifelock’s sucess is their CEO believes in their product and company. No other CEO of any other identity protection company maintains a public profile quite like Todd Davis. Lifelock will continue to lead the industry with innovative products and services.

What Kind Of Customer Prefers This Service?

A consumer who places value in company management . While competitors like Equifax may have more extensive product offerings, their background as a credit reporting bureau may create a conflict of interest in some people’s minds. Consumer reporting bureaus profit by selling your information and companies like Lifelock have forced them to increase their bottom line by employing fraud alerts and sending out credit reports. Lifelock is dedicated to the consumer’s protection and nothing else.

Why Should You Consider Anybody Else?

Lifelock does not offer credit freezes, a stronger measure of protection compared to fraud alerts and it does not offer lost wage coverage in their 1 Million Dollar Service Warranty. This is especially troubling since lost wages are where the majority of identity theft victims require assistance. According to the non-proft Identity Resource Theft Center, most victims of identity theft do not require the assistance of attorneys or investigators. Most of the work involved is contacting and working with all the affected accounts and credit agencies. A nationwide survey released by the Federal Trade Commission found the average victim spends 60 hours and between $120 and $1,200 to clear their name. IdentityGuard and Equifax both offer $2,000 in lost wages and TrustedID offers $5,000.

If you are looking to provide protection for your entire household, TrustedID’s family plan offers near identical protection at a significant discount. While Lifelock charges per member, TrustedID charges one price per household. The savings can really add up if you have three or more members in your household.

If you prefer a credit monitoring service as opposed to a company that places fraud alerts, you may want to consider Equifax or IdentityGuard. If this is the case, we recommend IdentiyGuard. While the price of their Total Protection package may cost more, the monitoring services they provide are quite extensive.

Opinion

Lifelock is a fine company and as the industry leader, their customers apparently do find value in their service. But as any industry leader knows, the competition will always be nipping at your heels and this case is no different. Lifelock’s competitors have created product offerings that do more for less while others have taken a credit monitoring apporach with some of the same safeguards. Some of the advantages Lifelock’s competitors are offering in the hopes of grabbing market share are so significant we would be remiss not to point them out.

TrustedID is a near Lifelock clone with added protection in the form of credit freezes. It also offers “best in class” lost wage protection and a family discount. TrustedID surpasses Lifelock’s offerings and they do it for slightly less. For more information read our detailed Trusted ID review.

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Company Profile

Headquartered in Redwood City, California, TrustedID was founded in 2005 by Scott Mitic, formerly a vice president at Fair Issac, creators of the FICO lending score and Omar Ahmad, former CIO for Napster. Scott Mitic has stated publically his reasons for starting TrustedID was he got tired of watching credit bureaus place greater importance on selling consumer’s data than protecting it. TrustedID is designed to offer proactive identity theft protection and claims to be “the only complete solution for protecting your identity.”

How Do They Protect You?

• Fraud Alerts

TrustedID will place and renew fraud alerts on your credit file with Experian, Equifax, and Transunion. This requires the credit bureaus to verify your identity before issuing credit, usually by calling your phone number on file.

• Removal from Marketing Lists

TrustedID will remove your name from marketing lists advertisers use to send you pre-approved credit offers and junk mail. This is one of the many ways thieves steal identities.

• Annual Credit Reports

TrustedID will order credit reports from the three major credit reporting agencies and have them delivered to you for review.

• Scans Internet for you Data

TrustedID regularly scans the internet for your private information including social security number, credit cards, driver’s license, and other sensitive data to protect it from being sold or traded online.

• Medical Benefit Review

TrustedID will review your medical benefit statements to ensure nobody else is receiving your medical benefits.

• Spyware Protection

Provides you with advanced anti-spyware software to protect you from identity thieves when you go online.

• 24/7 Customer Support

If you have any questions or need immediate assistance, TrustedID has protection specialists to help you 24 hours a day, 7 days a week.

• CreditLock™

Fraud alerts are helpful but Credit Freezes on your credit file is a far stronger measure to protect your credit report against identity thieves.

• $1,000,000 Service Warranty

In the unlikely event an identity theft occurs under their protection, you can rest easy to know TrustedID will support you with their service warranty which includes a best-in-class lost wage limit.

What Do They Do Better Than Anybody?

There are three areas in which TrustedID stands out. The ability to place and remove Credit Freezes which prevents any unauthorized access to your credit file, its best in class $1,000,000 Service Warranty and the large discounts it offers in its family plan.

Credit Locks

No other company offers credit freezes on all the three major credit reporting agencies. Equifax’s IDPatrol comes close but only allows you to place a credit freeze on the Equifax report and not Experian or TransUnion. See our section on Fraud Alerts & Credit Freezes to understand the benefits of a Credit Freeze over a Fraud Alert.

1,000,000 Service Warranty

You can’t really appreciate the $1,000,000 Service Warranty unless you read the fine print. Not only does it offer the same amount of protection as Lifelock’s 1 Million Total Service Guarantee, but includes coverage for lost wages, a key point Lifelock does not cover. In fact, TrustedID offers more than twice the coverage as its nearest competitor in an area where the majority of identity theft victims say they incur loss.

According to the Identity Theft Resource Center, the average identity theft victim spends about $1,000.00 in fees to restore their identity. Rarely would any victim come close to needing $1,000,000. Although most of the work involved is tedious and time consuming, it usually does not require attorneys or investigators to get involved. What most identity theft victims need is compensation for lost wages and that is why TrustedID’s $1,000,000 Service Warranty stands out. See our section on Identity Theft Insurance to better understand what these policies cover and what to look for.

Family Protection

No other protection service offers a family plan. Equifax’s Credit Watch Gold does but is limited to two adults. TrustedID’s IDFreeze can be purchase to cover an entire household. That means children, spouse, and grandparents can be covered all under one policy. Starting at $15.83 a month, you can see where the savings add up compared to buying individual plans for every member of your household.

What Kind Of Customer Prefers This Service?

A consumer looking for protection on an entire family or the individual looking to place credit freezes on their credit file and a comprehensive service warranty that includes lost wages.

Why Should You Consider Anybody Else?

If you’re looking for a credit monitoring service where you can access your credit report anytime instead of the once a year reports that TrustedID offers, you may want to consider Equifax or IdentityGuard. Equifax offers unlimited access to the Equifax report and IdentiyGuard gives you quarterly updates to your FICO score and emails you any changes to your credit file. IdentityGuard also offers a host of services for the mobile tech savvy consumer.

Give It To Me Straight

TrustedID’s IDFreeze product coupled with CreditLock is our editor’s choice for overall identity theft protection. They are the only ones to offer the ability to place credit freezes on all three credit reporting bureaus and with family discounts and “best in class” service warranty, it’s easy to see why this is our top choice.

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• Read our original Lifelock review

With the introduction of Lifelock Command Center™ Lifelock is moving away from its original business model of placing and renewing fraud alerts to an early warning detection service. Lifelock’s original offerings are still available and currently Command Center is being offered as an additional add-on to their existing service.

So What Is Command Center?

Lifelock Command Center™ - Is It Worth It?

In the past, Lifelock’s critics (justifiably in my opinion) claimed much of Lifelock’s services could be done for free by the consumer themselves. In addition, since it’s universally accepted that no protection service is completely fool proof, many critics also pointed out fraud alerts may create a false sense of security. What consumers really needed, many industry experts argued, was an early warning system designed to alert individuals at the first sign of identity theft. Lifelock’s answer to those critics and countless competitors is the Lifelock Command Center™ Protection Suite. Here is an explanation of the new features:

• Court Records Alerts and Reports

  Lists court records that match your name and date of birth from county courts, Departments of Corrections (DOC), offices of Administration of Courts (AOC) and other legal agencies to help you verify that criminals aren’t using your name to commit crimes.

• Lifelock Personal Breach Detection™ Services

  Actively monitors unregulated internet and file-sharing networks for your identity information. If Lifelock finds you are at risk, they’ll alert you by e-mail and take emasures to protect you against accidental personal information disclosures.

• Sex Offender Registry Alerts and Reports

  Lists registered sex offender records for your zip code. It will also alert you if a sex offender is fraudulently using your address.

• Payday Loan Alerts and Reports

  Notifies you of any payday loan activity with your name, date of birth and Social Security number.

• Public Records Alerts and Reports

  Lists postal addresses associated with your identity found in public records.

• Alias Records Alerts and Reports

  Lists alternate names associated with other pieces of your identity (Social Security number, driver’s license, etc.) found in public records.

Opinion

There are alot of things I think Lifelock is doing right here. I whole heartedly agree with paying attention to non-credit realted sources for changes in your personal information. Too many companies focus on just monitoring your credit report which is important but leaves out all the other potential types of identity theft like criminal identity theft.

Lifelock has definately improved upon it’s original service and I do think it’s worth the increase in premium for the added protection but would it be my pick for “best identity protection”? Except for one thing it would be.

The lack of credit monitoring bothers me. Lifelock does provide annual credit reports but you can get that for free. Compared to services like Identity Guard and ProtectMyID, who provide near real-time monitoring of your credit report, it still falls a little short. While it’s true other forms of identity theft exist and affect thousands if not millions of Americans every year, the majority of identity theft cases still revolve around your credit report.

Still, Command Center™ is impressive and for some consumers it might be exactly what they’re looking for.

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Identity thieves steal consumer card information

In Los Angeles, prosecutors charged Albert Jose Gonzalez, 39, of Lancaster, Josue Gustavo Albizuras, 42, of Los Angeles, and Cesar Vasquez Echeverria, 28, of Santa Clarita with two dozen criminal charges including felony identity theft for allegedly taking $2 million by using card skimming devices at gas pumps.

The suspects are accused of building or buying skimming devices, which record credit card information as the card is swiped, and installing them into gas pumps at more than 12 gas stations in L.A. County, according to Lt. Ron Williams of the L.A. County Sheriff’s Department, which was part of a task force that investigated the case.

The defendants would then download the information onto gift debit cards. Police also confiscated $40,000 in cash. bluetooth-equipped skimming devices, hundreds of counterfeit credit cards, cell phones, computers, and luxury vehicles including a new Porsche and a Ferrari.

The task force started their investigation after a surge of identity theft related crimes.

How To Protect Yourself From This Type of Identity Theft

• Read our detailed Lifelock review
• Read our detailed Trusted ID review

One of the weaknesses in placing fraud alerts and credit freezes is it can’t prevent this kind of identity theft. These criminals were using technology to duplicate your debit and credit cards. The only way to prevent this from happening to you is to use cash at the pump. Unfortunately carrying around large amounts of cash isn’t very practical for many people and as we move towards a cashless society, this is something that we have to be constantly on guard for.

No protection service on the market can detect what appears to be completely legitimate withdrawals from your existing accounts. However, a comprehensive identity theft insurance policy will cover deductibles and all or some of any incurred financial loss.

These thieves have your PIN number and have duplicated your card. The only way to minimize the damage is to detect the theft in the first place. Here are five ways things every person should be doing:

• Review bank and card statements regularly

  Look over your statement carefully and contact your financial institution immediately if you see an unauthorized withdrawal or charge on your account.

• Order your free annual copy of your credit report from all three credit bureaus

  By federal law, credit bureaus have to provide free copies of credit reports annually.

• If possible, use credit cards instead of your debit card to pay for gas

  Although some gas stations only accept debit cards, you may want to rethink where you pump gas. If identity thieves get their hands on your PIN, you are giving them potential access to your life’s savings. Credit card companies have well established fraud policies that in most cases, limit your liability.

• Think about getting some form of identity theft protection

  There are many services that provide consumers with comprehensive identity theft insurance policies as well as sophisticated credit file monitoring. You can read our article on what we think the best identity theft protection is and why.

• A woman checks her credit report and discovers several accounts that were paid off years ago have been reopened and are carrying large balances.
• A young man is preparing to buy his first home and is shocked when his mortgage application is denied despite maintaining low balances and paying his bills on time. He is shocked to discover a list of delinquent accounts he never opened and is told that he’ll have to settle these accounts before being approved for a mortgage loan.
• An elderly couple discovers their credit report shows that somebody in another state has purchased rental property in their name and defaulted on it. They are being sued by the local municipality for building code violations as well renters for poor living conditions.

Everything in your credit report can have a major impact on your life. It lets creditors and others know whether or not you pay your bills on time, have fileld for bankruptcy, or have an outstanding court judgement against you. If there;s something negative in that report, you might be turned down for a loan, a credit card, an apartment, or even a job. Even if you aren’t turned down, any negative items could increase the interest rate or premium you have to pay for a loan or insurance.

That’s why it’s important to get up close and personal with your credit report and checking it regularly. By doing this you can look for erroneous information, spot signs of identity theft, and correct any errors on your report.

Overview

ProtectMyID is part of the family of online sites owned by ConsumerInfo.com, an Experian company. Some of the other sites have names you might recognize like LowerMyBills.com and FreeCreditReport.com. With ProtectMyID, Experian has finally entered the identity theft marketplace to compete with industry leaders like Lifelock and TrustedID. ProtectMyID offers credit monitoring for all three bureaus, internet scanning, recovery support and an exceptional $1,000,000 product guarantee.

Rationale

In recent years, identity theft protection services have been moving away from preventive measures like fraud alerts and credit freezes to adopt a more credit monitoring type of strategy. This may be due to the fact that fraud alerts can be easily done for free by the consumer or more likely, that any preventive measure is only partial protection at best. ProtectMyID.com from Experian takes this approach and offers a comprehensive package at an affordable price.

The main element of ProtectMyID.com’s protection lies in the three bureau credit monitoring. You’ll be able to receive alerts near real time if any changes are made to any of your three major credit reports. It’s important to point out that while all your credit reports will be monitored for changes, you will only be able to access to your Experian credit report. However, ProtectMyID.com does make available TransUnion and Equifax reports at steeply discounted rates.

How Do They Protect You?

• Three-Bureau Credit Monitoring

ProtectMyID.com will monitor your credit report on a daily basis and alert you via email or SMS text messaging if any changes are posted to your Experian, Equifax, or TransUnion report.

• Change Of Address Monitoring

ProtectMyID.com will monitor any change of address requests through the U.S. Postal Service, a common tactic used by identity thieves.

• Scans Internet

Monitors internet black market sites, including chat rooms where personal data is bought and sold for your personal information. You will be alerted immediately if any of your information is compromised.

• ChildSecure℠

ProtectMyID.com offers a service to monitor your child’s credit files for an additional $6.95 per month.

• Lost Wallet Protection

ProtectMyID.com will assist you in canceling all your credit card accounts. In addition if their product fails, ProtectMyID.com will reimburse you for any stolen funds your bank or credit card company will not be responsible for.

• $1 Million Product Guarantee

This is the most comprehensive identity theft insurance policy available with unlimited coverage for wage losses.

• Dedicated Resolution Specialist

If something does go wrong, you’ll have acces to a dedicated resolution specialist to assist you in resolving an fraud issues.

What Do They Do Better Than Anybody?

$1 Million Product Guarantee

ProtectMyID’s $1 Million Product Guarantee doesn’t set aside wage limits in it’s lost wage coverage unlike every other identity theft protection service. It’s important to remember that identity theft insurance isn’t like traditional insurance and is there to cover the expenses involved with recovering from identity theft, not to make whole financial losses resulting from the theft like auto or home insurance. Nonetheless, the wording in it’s policy suggests that an argument could be made for even traditional insurance coverage.

Credit Monitoring

While ProtectMyID.com isn’t the most comprehensive identity theft protection service available, 3-bureau credit monitoring and Internet scanning make it an effective detection service. This, combined with extensive identity theft recovery support, makes ProtectMyID.com a good choice, particularly for consumers who are interested in 3-bureau credit monitoring.

What Kind Of Customer Prefers This Service?

A consumer looking for “good enough” coverage that may find other more comprehensive services unaffordable and unnecessary. After reviewing so many identity protection services, you have to appreciate the thought behind how Experian put together ProtectMyID.

Every identity protection company has to balance what services to include against making that protection affordable for consumers. ProtectMyID assumes (correctly in my opinion) that preventive measures like fraud alerts and credit freezes can be placed easily and for free by the consumer and has left these services out. They’ve added only what they feel are essential services to their protection plan: three bureau credit monitoring, internet scanning, victim assistance and what appears to be the industry’s most comprehensive warranty. Other services may provide unlimited access to all three credit reports but at half again the price. Only you can access your own “threat environment” and for many consumers, this level of protection and price may be just right.

Why Should You Consider Anybody Else?

There appear to be two different schools of thought in the identity protection industry. One side promotes prevention through fraud alerts and credit freezes while the other side forgoes those measures for a credit monitoring approach. Both sides have their pros and cons but if you are looking for a company to place and renew fraud alerts then you should consider Lifelock or TrustedID. I should also mention here that TrustedID offers families significant savings under their one household plan. You can read my post on Lifelock vs. TrustedID here.

If you’re comfortable with the credit monitoring approach, you might want to consider Identity Guard and their one-of-a-kind identity dashboard. Identity Guard has positioned themselves as the gold standard in credit file monitoring and offers the most comprehensive credit monitoring services available along with virus protection and a host of other useful services. Read our Identity Guard review here.

Give It To Me Straight

There is no doubt ProtectMyID.com is an effective identity protection service. If price was not an issue I’d advise you to consider Identity Guard and all the bells and whistles Total Protection offers, but if you’re looking for the most effective protection at the best price I’d recommend ProtectMyID without reservation. I can’t stress the importance of monitoring your credit file and being able to act quickly to any suspicious activity. ProtectMyID.com offers this at almost half the price of Identity Guard’s Total Protection so for consumers looking for value, it’s right here.

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The downside to all this “connectivity” is that it opens the door for online identity theft. Any online communication, whether it’s posting on Facebook, email, instant messaging, or simply surfing the web, increases your risk. There are numerous online threats waiting to steal or con you out of your personal information. Taking a few simple precautions can drastically reduce the chances online identity thieves can access your private information. Today we’ll begin a series on “How To Secure Your Online Presence”.

You can improve your online security by:

• Installing the right software to protect your computer.
• Avoiding software that can harm your computer
• Protecting your network
• Using strong passwords
• Practicing safe email habits
• Shopping online with care
• Familiarizing yourself with known scams

We’ll go into each of these categories as we begin our series but probably the greatest protection is the eye of experience. A majority of the online fraud occurs due to simple consumer negligence and ignorance. If you’re going to have an online presence: online banking, social networking, online gaming, you must be security conscious. Don’t leave sensitive information where everybody can see it.

Online identity thieves use technical knowledge, an understanding of online commerce, internet security, and combine them with age old scams to trick online users. They may not go through your mail or break into your own like traditional identity thieves but the goal is the same-to steal your personal information for their own amusement and profit.

Online identity theft is not only being perpetrated by individual scammers, but also by large rings, many of which make money by selling your sensitive information on underground websites. One of the most notorious was Shadowcrew.com, an online marketplace with over 4,000 members. Before the Secret Service brought the site down and arrested many of its members, the site had trafficked in over 1.5 million stolen credit card numbers and stole over $4 million dollars.

Today’s virtual identity thief could be the shy geek next door or a highly skilled criminal mastermind. Chances are, you’ll never find out. But these high tech criminals have one thing in common with their traditional brothers, they like to target easy marks. If you understand how they work and how to protect yourself, you can safely use the technologies they target without having your identity stolen.

• Read our detailed Lifelock review
• Read our detailed Trusted ID review

We live in a world of uncertainty, and more and more people are becoming concerned about the safety of their identities. We also have more choices than ever before and it can be confusing trying to determine what you need to protect yourself and which product will offer you the greatest security. The two most popular services today are Lifelock and TrustedID. Unlike a company like IdentityGuard, which focuses on credit monitoring, they both take a very similar approach to identity theft protection and we’ll expose some of the differences between these two popular services.

How are Lifelock and Trusted ID Similar?

• Opt-out of pre-approved credit offers
• Have a $1,000,000 warranty
• Fraud Alerts (Called ‘Lender DoubleCheck’ by TrustedID)
• Order yearly credit reports
• Wallet protection
• Scan internet black markets looking for misuse of your information
• 24/7 on call helpline

Both LifeLock and Trusted ID are fine products that can help keep your computer and your information secure, both offering scanning features that keep an eye out for your personal information on the web. They look for your date of birth, address and social security number and notify you immediately if any activity is found with your information attached to it. With Trusted ID you can even ask them to watch for your bank account and credit card number.

They both even offer wallet protection which can give you some small sense of security when your wallet is gone. Having someone to call and help you take the necessary steps to replace your license, insurance cards, and other forms of ID as well as helping you with canceling and replacing your credit and debit cards can be a great comfort.As you can see, both LifeLock and Trusted ID offer very similar coverage and have very similar basic features.

How Do Lifelock and Trusted ID Differ?

• Read our detailed Lifelock review
• Read our detailed Trusted ID review

Credit Freezes

Like Lifelock, Trusted ID sets and renews fraud alerts every ninety days. What sets TrustedID apart is the option to place credit freezes on your credit file, a far more secure measure of protection. (Read our article on Fraud Alerts vs Credit Freezes for more information) While you can do this yourself, having a service perform this for you can come in handy when you can’t remember your PIN number.

Personal Information Scanning

Lifelock recently launched their Command Center which actively monitors unregulated internet and file sharing networks for your personal information. In addition they scan payday loans, sex offender registries, and other public records to find your information. If they find it, they’ll alert you by email and help protect you against accidental information disclosures.

Anti Virus Protection

Trusted ID also keeps an eye on your computer, giving you an anti-spyware program that can be installed on as many as three computers. An unsecured computer is at high risk for hackers, spyware and viruses, and a good protection program can cost you as much as $100 a year. With trusted ID, not only does this software automatically update every day, it is given to you at no charge so long as you have an account with Trusted ID. This benefit almost pays for the cost of protection itself.

Lost Wage Coverage

Probably the greatest difference between LifeLock and Trusted ID is in the fine print of their identity theft insurance guarantees. While both claim to have $1,000,000 policies, they cover very different things. According to the non profit Identity Theft Resource Center, the primary financial loss of identity theft victims are the lost wages involved when they need to spend 30-60 contacting their financial institutions and clearing up their credit. Lifelock’s policy does not cover lost wages while Trusted ID offers an industry best $5,000 /4weeks. Most of Lifelock’s coverage is for hiring attorneys and investigators to “clear your good name”, something most cases of identity theft do not require. Most victims of identity theft do need to spend countless hours calling their credit card companies and filling out fraud affidavits. Trusted ID will reimburse you for this time while Lifelock will not. You can read more about Identity Theft Insurance here.

Family Coverage

Another large difference is family coverage. Lifelock doesn’t offer any discounts to cover your spouse, elderly grand parents and charges $25/year to cover minor children. Trusted ID covers the entire household living under one roof for less than the cost another policy.

To illustrate the wide disparity in cost; for a family of 2 adults and two minor children, the cost of protection for Lifelock would be $270/year ($110 for each adult and $25 for each child). Trusted ID’s coverage would only be $189.99 These are advertised prices and if you use any of our links, you’ll receive significant discounts.

Large families need family pricing

If you’re known to the public as “octomom” or last name is “Duggar”, then it’s really a no brainer. If the Octomom were covered by Lifelock, she would need to pay $310 while the near identical coverage from TrustedID would be $189.99.

The Duggar family from Discover Channel fame would pay $670 for their 18 children with Lifelock and with TrustedID, you guessed it, $189.99. I sense a sponsorship deal here somewhere.

These may be extreme examples but a large majority of victims come from families and it certainly makes sense to protect the identities of those you care about.

Our Opinion

LifeLock and Trusted ID both have reputations of stability and trustworthiness, and in the end both of them are good choices to help protect you from identity theft. We feel that TrustedID edges out Lifelock as a service that offers more for marginally less.

With Trusted ID, you have the option to place credit freezes, free virus /spyware protection for your computers, and when looking to add a child, spouse, or grandparent to your coverage, TrustedID has the best pricing available.

Lifelock did pioneer the entire identity protection industry and was the first to offer a million dollar warranty but the value in TrustedID’s offerings is just to strong to ignore. While companies like Identity Guard offer different strategies for identity theft prevention, it’s almost like TrustedID was designed to imitate Lifelock, offer more, and then charge less.

Before making a final decision take the time to ask what services are important to you. How much coverage do you need, and how many people in your house do you need to protect? Both LifeLock and Trusted ID are companies with good reputations who will help protect you from identity theft and, should the worst happen, help you regain your identity and your credit.

• Visit Lifelock 10% Discount and 30 Days Free
• Visit Trusted ID 15% Discount and 30 Days Free

Your mail can contain sensitive personal information

Effectively securing your mail can significantly reduce your exposure to identity fraud. Protecting your mail involves three simple practices:

• Physically securing your incomming and outgoing mail
• Limiting and destroying junk mail
• Monitoring mail to ensure sensitive mail arrives

1. Physically Securing Your Mail

The first step in protecting your mail is to prevent any unauthorized access to them. This can be done in a variety of ways:

Using a post office box or other secure mailbox: Most mailboxes are unsecured and even locked ones can be broken into. The most secure mailboxes are slots in your door or a P.O. box. By using a post office box, you in a way eliminate the “middle man” in your mail’s journey from one postal center to another and it always remains safe in federal custody until you pick it up.

Suspend mail delivery during vacations:If you’re planning a trip, let the post office know to hold your mail so it doesn’t pile out of your box. Not only is this dangerous for identity theft but it’s also a clear signal to thieves nobody’s home.

Sensitive mail should be mailed at the post office: Whenever possible, drop mail containing bills,l checks, or applications at the post office or a well trafficked mailbox. A raised red flag on your mail box notifies identity thieves, not just your mailman.

Send check orders directly to your bank:It’s extremely dangerous to have a box of blank checks sitting in a mailbox unattended. Have them arranged to be delivered to your local branch for pick up. Your bank should be able to arrange this without any problem.

2. Limit and Destroy Junk Mail

Junk mail is more than a nuisance. Identity thieves can use it to apply for lines of credit and purchase goods in your name. To reduce the limit of junk mail you receive:

• Out out of preapproved offers by calling 1-888-567-8688
• Sign up for the Direct Marketing Association’s “Do-Not-Mail” list. To register, simply send your name, address, and signature to:
  
  Mail Preference Service
  Direct Marketing Association
  PO Box 643
  Carmel, NY 10512

If you continue to receive any junk mail containing credit card offers or other information identity theives could steal, destroy it with a cross-cut shredder.

Monitor Your Mail Schedule

Sensitive pieces of mail usually arrive the same time every month so if something does not arrive on schedule, make certain the mail hasn’t been stolen. If a monthly bill or statement does not arrive on time, follow up immediately with the appropriate institution.

Another highly piece of sensitive information are expired credit cards. Creditors will usually send out new cards well in advance of their expiration dates. Be aware of your card expiration dates and if a new card has not arrived within a month of expiration, this may be sign your new card has been compromised.

Securing your mail is the first step towards any comprehensive solution to protecting your identity but it’s also important to know that despite these precautions, identity thieves can still access your information. Order a free copy of your credit report form the 3 major credit bureaus and review whats on the credit file. Make certain the names, addresses, and information on them is complete.

Under the Fair Credit Act, you are allowed one free report a year from each of the three major bureaus but checking your credit file once a year is like checking the lock on your house once a year. We highly recommend a credit monitoring service with an insurance policy for complete protection. There are many types of protection services and with wildly varying ideas about protection. We review the top companies and for more information, You can read our Identity Guard review, Lifelock review, TrustedId Review or compare identity theft protection services here.

Understanding The Identity Theft Protection Industry

It seems we’re inundated with commercials and advertisements from Lifelock, Identity Guard, TrustedID and the countless other identity protection services. There’s certainly no shortage of protection services and if you’ll just give them the chance, they’ll all give you plenty of reasons why they’re the best identity theft protection available.

I’m sure these companies hired expensive ad agencies to create the most convincing sounding ad copy to get their message across. But this doesn’t necessarily negate the value of the services these companies provide, it just takes a discerning eye to separate the “chaff from the wheat” so to speak. Most of what you’ll read elsewhere sounds like warmed over ad copy. As a consumer, any review I read has to explain “why” and that’s what I’ll try my best to do. I’ll give my opinion, explain why and how it was formulated, and then you’ll send me flowers and thank me by visiting this site’s many sponsors. (Well, one can always hope…)

Understanding How Identity Protection Works

To make an informed decision about which service is right for you, some explanation of basic features is necessary.

• The Limits Of Identity Theft Prevention

  The first concept to understand is no protection is foolproof. That doesn’t mean identity theft prevention is without merit, far from it actually. It’s just that no plan or service exists that can guarantee complete protection. Why? You have no control over your information once it leaves your hands. What’s to prevent the auto loan application you filled out from falling into the wrong hands? How about your mortgage application or your medical records? Ever hear of data breeches? In 2009, one single breech compromised over 130 million records. So much of your information is already in circulation, we simply can’t prevent the countless ways that data can be lost, stolen or innocently given away.

• Prevention vs. Detection

  In the early days of identity theft protection, there was much fuss made of Lifelock’s use of fraud alerts as a preventive measure. The problem with preventive measures like these are first, it’s completely free to do yourself and second, its akin to locking your front door and leaving the windows and back doors open. As the identity theft industry evolved, companies have moved toward sophisticated detection methods and scanning the internet for your records. Even Lifelock, the industry leader in identity theft protection, has moved in this direction with their Command Center™.

How Identity Services “Package” Protection

First and foremost, identity theft protection is a business much like health insurance is a business. For the most part, comparable identity protection features are available to almost any company. However, every additional feature increases the cost of the protection therefore services must balance a price sensitive public with features that are most effective. There are things like economies of scale and proprietary technology that give some companies an edge over others in product offerings but only you can decide if you need these features. For more information on what services and features different services provide, read our article on how to choose a protection plan.

Naturally these companies will create protection packages to serve the greatest amount of people. I’ve separated consumers into these three categories and hopefully you’ll fall into one of them. For each category, I’ll explain the concerns, my recommendation for protection and reasoning behind it. If you can’t place yourself into any of these categories, feel free to drop me a note in the comments section and I’ll try my best to give you an answer.

To compare more identity protection plans visit our one of a kind identity service comparison tool.

Best Identity Theft Protection: Family Plans

Best Identity Theft Protection: Credit Monitoring

Best Identity Theft Protection: Value