Lifelock or TrustedID:Which Service Is Right For You?

Updated July 19, 2010

• Read our detailed Lifelock review
• Read our detailed TrustedID 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.

If you’ve done any research at all then you’ve come across some experts recommending Lifelock and others TrustedID. Both identity theft services have recently introduced upgraded and improved versions of their flagship protection plans. Lifelock launched Command Center™ last December and TrustedID introduced IDEssentials™ in July of this year.

As the identity fraud protection industry has evolved, many popular services have moved toward a monitoring detection type service. This is an admission in the industry that complete identity protection is virtually impossible. Tech savvy identity thieves can hack into databases and steal millions of records without anybody realizing it.

Both Lifelock and TrustedID understand this and have taken a very similar approach to identity theft protection. We’ll expose some of the similarities as well as differences between these two popular services.

	Command Center	IDEssentials
Price	$13.50/month	$10.42/month
Promotion	30 Days Free & 10% Off	15 Days Free Trial
Coverage	$1 Million Total Service Guarantee	$1,000,000 Service Warranty
Protection Type	Fraud Alerts/Scanning	Fraud Alerts/Credit Monitoring
Credit Monitoring	No	Instant 3 Bureau Report
Credit Reports	Annually Major Bureaus
Credit Score	No
Family Plan	No
Credit Freezes	No
Anit-Virus/ Spyware	No
Sex offender Reports		No
PayDay Loans	No

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 will remove you from junk mail lists and place fraud alerts on your behalf. They will also scan the internet for your 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.

Both services also 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 Report Monitoring

With the introduction of IDEssentials, TrustedID added credit monitoring of your report and score with all three major credit bureaus: Equifax, Experian, and TransUnion. TrustedID will scan your reports daily and alert you if they detect any fraudulent or suspicious activity. Lifelock does not offer credit monitoring.

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 hours contacting their financial institutions and clearing up their credit.

Unfortunately, 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 probably don’t 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 $347/year ($148.50 for each adult and $25 for each child). Trusted ID’s coverage would only be $240.00 These are advertised prices and if you use any of our links, you’ll receive significant discounts.

Large families need family pricing

For a larger family, the price differences are more dramatic. For the same family living with two grandparents, the Lifelock plan would cost $643/year and TrustedID would be unchanged at $240.00/year (provided all the adults are part of the same household). Anyway you look at it, these are significant savings.

If you’re known to the public as “octomom” or your last name is “Duggar”, then it’s really a no-brainer. If the Octomom were covered by Lifelock, she would need to pay $348.50 while the near identical coverage from TrustedID would be $240.00.

The Duggar family from Discover Channel fame would pay $747 for their 18 children with Lifelock and with TrustedID, you guessed it, $240.00. 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 less.

In addition to almost everything Lifelock offers, with Trusted ID, you have the option to place credit freezes, free virus /spyware protection for your computers, credit monitoring, your credit score, medical benefits review, 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. 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 Days Free Trial

Why Is TrustedID Better Than Lifelock?

If you’ve been researching various identity theft services, at some point you may have come across a comparison between Lifelock and TrustedID. Lifelock has probably done the most to create “brand awareness” behind its bold marketing campaigns but does that mean it offers the best value for consumers?

Maybe not if you compare it to a service like TrustedID. Here are six reasons why:

Credit Report Monitoring

With the introduction of IDEssentials™, TrustedID provides you with a comprehensive view of your credit history with all three major credit bureaus, along with daily alerts to keep you up-to-date on any changes to your credit reports. If you spot potential fraud, a Protection Specialists will make sure you’re protected and resolve the issue quickly.

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 under a $1,000 to restore their identity. 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 IDEssentials™ can be purchased to cover an entire household. That means children, spouse, and grandparents can be covered all under one family policy. Starting at less than the price of two policies, you can see where the savings add up compared to buying individual plans for every member of your household. Child identity theft is a growing problem and if you have children, TrustedID’s family plan can save you money.

Medical Benefits Protection

One of the newest and growing forms of identity theft is medical benefits fraud. TrustedID will review your medical benefits statements to ensure no one is abusing benefits entitled to you.

Anti-Spyware Software

One of the key areas identity theft occurs is by malicious hackers breaking into your computer and stealing usernames and passwords. With TrustedID, you’ll receive state-of-the-art anti=spyware software which you can install up to three different computers.

How Does TrustedID’s IDEssentials™ Work?

• 3-Bureau Credit Monitoring

Your credit report will be monitored daily for fraudulent or suspicious activity with all three major credit bureaus: Experian, Equifax, and TransUnion.

• Online Access To Your Credit Report

You’ll have instant online access to your credit reports from the three major credit bureaus.

• Online Access To Your Credit Score

If you’ve ever wondered what your credit score was with the three major credit bureaus, TrustedID will give instant online access to your score.

• Public Database Scanning

TrustedID will monitor hundreds of public record databases that contain information about everything from your marital status and address to issues of the court and business applications. If they detect anything that looks unusual and could lead to identity theft, you’ll be alerted immediately.

• Scans Internet For Your Data

TrustedID will regularly patrol underground black market internet sites where identity thieves buy, sell, and trade credit card numbers, social security numbers, bank account numbers, and names and addresses. If any of your personal information is discovered, you’ll be alerted immediately.



• Identity Threat Score

TrustedID uses advanced technology to search millions of public and private database records and then analyzes this information for patterns that could indicate if you are – or are about to become – a victim of identity theft.

• Lost Wallet Protection

Store your important information with TrustedID – credit and debit card numbers, insurance information, and more – and if you ever lose your wallet or need access to your information, TrustedID’s On-Call Protection Specialists can help you cancel your cards and replace them as quickly as possible.

• Fraud Alerts

TrustedID gives you the option to place fraud alerts if your identity is at risk, and with our Fraud Alert Reminder service, we will help you ensure your fraud alerts are renewed with the credit bureaus every 90 days.

• Medical Benefits Protection

One of the newest and most dangerous forms of identity theft is medical benefit fraud. TrustedID will help members review their medical benefit statements to nobody else is being treated with your medical benefits.

• Spyware Protection

You receive state-of-the-art anti-spyware software which you can install on up to three different computers. The anti-spyware technology blocks and removes malicious programs that hackers use to track your passwords and compromise your online accounts.

• $1,000,000 Warranty Protection

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.

• CreditLock™

Although fraud alerts are helpful, credit freezes on your credit file will completely shut down access to your credit report. *Additional costs are involved.

Analysis

At $10.42/month, TrustedID is affordably priced and if you use any of our links, we’ve negotiated a 14 days free trial. However the real savings are found in the TrustedID’s generous family pricing plans. TrustedID will cover a complete household for less than the price of two policies, $20/month. That means grandparents, children, and anyone else living with you can be covered under a single family plan.

In addition to the internet and public database scanning TrustedID does, you also have the option of employing credit freezes, something no other service offers. The Identity Threat Score™ gives you an easy-to-understand way to gauge your current risk levels and allow you to take the necessary steps to reduce the chances of becoming an identity theft victim

With the introduction of IDEssentials, TrustedID not only scans public databases for your personal information but offers credit monitoring as well – something Lifelock’s Command Center does not. You’ll have instant access to your credit report and score as well.

TrustedID offers the $1 Million Service Warranty and 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.

Opinion

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.

THE GOOD:TrustedID has combined almost everything you could want in an identity protection service: credit report monitoring, credit locks, database scanning, $1 million service warranty, anti-spyware software, medical benefits protection, and a generous family plan.

THE BAD:Significant increase for monthly plans.

Visit TrustedID to sign up for the 14 day free trial offer.

For information on Lifelock Command Center, read our review here.

Lifelock’s Basic Service May Leave Some Consumers Feeling Exposed…

In December 2003, Lifelock made waves in the credit industry after the Fair and Accurate Credit Transactions Act, or FACTA forced credit bureaus to allow consumers to place fraud alerts on their credit reports. This in turn forced lenders to verify your identity before extending credit or loans in your name. Fraud alerts are temporary and expire after 90 days. Considering that credit bureaus derive a considerable portion of their income from selling your information, they probably weren’t too keen on consumers restricting access to their credit files. They didn’t mind this too much since the percentage of consumers that were even aware such options existed-much less use them-was minuscule.

Enter Todd Davis and Lifelock.

In its early days, Lifelock built their business around the ability to place fraud alerts and renew them on your behalf, effectively making them permanent.

The credit bureaus sued and argued that Lifelock was trying to “game the system” of fraud alerts to make a profit. In May of 2009, a federal judge ruled that Lifelock can no longer place fraud alerts on its customer’s credit profiles. Since then, Lifelock has moved away from fraud alerts and evolved into a sophisticated identity monitoring service centered around detecting early signs of identity fraud. In January 2010, Lifelock launched an upgraded protection service called Command Center that offers scanning of public databases such as court records and sex offender registry reports.

Is Lifelock A Scam?

With all the recent press about Lifelock, it’s no surprise many people may be a little weary about being sold a bill of goods. Lifelock has been sued, fined 12 million by the Federal Trade Commission for deceptive business practices, and their CEO, Todd Davis had his identity stolen at least 13 times. If you think this means identity theft services are one big scam, think again. Read more.

How Does Lifelock Work?

• Lifelock Identity Alert System™

Lifelock continually scans the internet and public databases and will alert you by e-mail, postal mail, and/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. If the application is fraudulent, Lifelock’s remediation team will take action to help protect your good name.

• $1 Million Total Service Guarantee

Lifelock members have access to a recovery specialist who will spend up to $1 million to hire lawyers, investigators, consultants and whatever else is needed to restore your name. It will not cover lost wages or business profits, direct out of business costs and lost opportunities.

• eRecon™

Lifelock’s eRecon™ service will scan thousands of known criminal Web sites for the illegal selling or trading of your personal information such as your name, address, Social Security number, bank account numbers and credit card numbers. If they find a piece of your identity on one of these black market sites, they will alert you and help you take steps to resolve the problem.

• TrueAddress™

A common way identity thieves operate is by redirecting your mail with a change of address request. Identity thieves can divert your mail to steal your personal and financial information. Lifelock will scan address databases nationwide to detect unauthorized change of address requests. If detected, they will notify you and work with you to help avoid further damage and restore accurate address information.

• WalletLock™

If your wallet or purse goes missing, a WalletLock™ specialist will help cancel and replace the lost contents of your wallet, including your credit/debit cards, driver’s license, social security card, insurance cards, checkbook – even travelers checks.

• Reduce Junk Mail

Lifelock will request your name be removed from marking and pre-approved mailing lists, another potential source of identity theft.

• 24-Hour Support

Lifelock maintains 24 hour direct access to account representatives.

Analysis

At $9.00/month, Lifelock is reasonably priced and if you use any of our links, we’ve negotiated 30 days free and a $21.00 discount off the regular price. Unfortunately there are no price discounts for spouses but coverage for minors is offered at $22.50 per year.

The Lifelock Identity Alert™ system uses multiple technologies and data sources to scan credit applications for member’s personal and private information. Since the introduction of the system in September 2009, Lifelock has reported on and blocked more than 6,200 fraudulent applications for both credit and non-credit services before any damage could be done.

The basic Lifelock service includes eRecon™, TrueAddress™, and annual copies of your credit report. These services will scan over 10,000 underground sites for the illegal selling of your information and detect if your address has been changed in nationwide address databases but the lack of more frequent credit monitoring is a concern.

Lifelock offers the $1 Million Total Service Guarantee, 24-Hour member Service and the WalletLock™ service to help you if you become a victim of identity theft. The only issue with this is the $1 Million Guarantee doesn’t cover wage losses.

Lifelock Opinion

This is the service that started it all. Many of you may remember CEO Tod Davis boldly displaying his social security number all over the airwaves daring identity thieves to steal it. They did. According to the Phoenix New Times, Todd Davis has been the victim of identity theft over 13 times. Apparently it’s still a good idea to keep your social security number to yourself but the fact that after such a brazen display of his personal information, he’s only been victimized 13 times.

Is Lifelock Worth It?

But does that mean identity theft protection is a just a one big scam? Hardly. Consumers just have to understand that there’s no way to 100% guarantee you’ll never become a victim of identity theft. The proliferation of data breaches, online shopping, and internet banking means there are just too many ways for tech savvy thieves to get a hold of your identity. You simply can’t control who see’s your mortgage or auto loan application once you hand it over.

How Does Lifelock Compare?

Lifelock’s basic service falls short when compared to other comparably priced services such as TrustedID and Guard Dog ID; all of whom have matching $1 Million Dollar service guarantees.

In addition to everything Lifelock offers, TrustedID offers generous family plan pricing, antivirus protection, and medical benefits protection. Lifelock may have been the service that started it all but like so many other industries, the trailblazers may have the most market share but are usually not the ones who offer consumers the best value. The competitors who have to offer “more for less” to grab market share usually do.

THE GOOD: LifeLock is a decent identity theft protection service at a reasonable price. They basically single-handedly created the identity protection industry with their bold advertising and are the market leaders in the consumer identity protection industry.

THE BAD: 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. No credit monitoring.

Lifelock Promotion

For more information about Lifelock and its services, visit Lifelock.com. We’ve negotiated exclusive discounts for our readers, simply use any of our links to receive $21 off the regular price and 30 days free. No promotion code is necessary.

You’ve decided you need identity theft protection. Congratulations, that’s the easy part…

It seems we’re inundated with commercials and advertisements from Lifelock, Identity Guard, TrustedID and the countless other identity theft 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 marketing campaigns that highlight their strengths, gloss over shortcomings, and explain why they’re better than the competition.

What’s a discerning consumer to do?

It takes a discerning eye to separate the “chaff from the wheat” so to speak. Our staff at IDProtectionGuide takes a certain pride in delivering analysis you just won’t find anywhere. In fact, most of what you’ll read elsewhere sounds like warmed over ad copy. Much of our information comes from trying out the individual services and many hours on the phone. Let’s dig in.

After reporting and reviewing on the identity theft industry the last few years, we’ve noticed that there are a few consumer profiles that will cover just about 99% of the potential market. Don’t worry if you find yourself in one or more profiles. In understanding where different services rank, it may help you better understand the strengths and weaknesses of an identity protection service and help you make a better informed buying decision.

How Identity Theft Protection Works

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.

Many people associate identity theft with financial or credit fraud but there is also criminal, employment, and even medical identity theft. Many detection services will scan not just your credit report but public databases, court records and even sex offender registry reports. Even Lifelock, the industry leader in identity theft protection, has moved in this direction with their upgraded service, Command Center™.

How Identity Theft Services “Package” Protection

First and foremost, identity theft protection 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. Services must balance a price sensitive public with features that are most effective.

Things like economies of scale and proprietary technology can give some companies an edge over others in product offerings but only you can decide if these features are something you’ll find value in. Most consumers have a natural aversion to buying features they never use.

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