How It Works
LifeLock is the industry leader in the rapidly growing field of Identity Theft Protection. LifeLock offers a proven solution that prevents your identity from being stolen before it happens for about $10 a month. Besides protecting your identity, it also reduces junk mail and credit card offers. If your identity is ever stolen, LifeLock will reimburse direct expenses you incur and pay profesionals (i.e. private investigators, lawyers, etc.) up to $1 million to resolve the problem for you.
LifeLock also includes WalletLock for no extra charge. In the even you lose your wallet, LifeLock will transfer you to a certified Recovery Specialist that will help you:
Identify your missing documents
Contact each credit, bank or document issuing company while you're on the phone
Cancel the lost cards (credit/debit cards, driver's licenses, social sec. cards, checkbooks,etc.)
Fill out the paperwork and request new replacements
Initiate the fraud affidavit and police reports if the wallet was stolen
Depending on the severity, additional follow-up and resolution calls will be arranged.
How It Works - What LifeLock Does for You
LifeLock places fraud alerts at all three credit bureaus and maintains these alerts every 90 days, renewing them before they expire. A fraud alert causes the credit bureaus to flag your credit file and include your phone number so that you can give verbal authorization to a creditor as proof that they are dealing with you and not an identity thief. A creditor who accesses a flagged file is required per the FACT ACT passed by Congress, to confirm your identity. It is best to place your cell phone number in your file so that you can authorize a credit transaction on the spot. The system has worked extremely well and is the most effective identity protection service as it is proactive rather than reactive, stopping identity theft before it happens. This differs greatly from credit monitoring which only informs you that someone has used your credit and then leaves you the emotionally draining and costly task of restoring your credit and clearing your name. It allows you to maintain control of your credit and money while "locking" out thieves.
The 6 Things LifeLock Does for you (from LifeLock.com)
First, LifeLock asks the credit bureaus to set free fraud alerts on your behalf. Usually, this is done through our automated systems and the alerts are set within an hour.
Second, unless your circumstances change and you tell us not to, every 90 days or so LifeLock asks the credit bureaus to do it again. You can do this for free if you'd prefer, but LifeLock makes sure it gets done and that it gets done right..
Third, LifeLock requests that your name be removed from pre-approved credit card and junk mail lists and we keep making the requests as they expire. Statistics show that this is one of the many ways that thieves hijack identities. Plus, all that mail is just so irritating. Many members say that this alone is worth the price.
Fourth, LifeLock orders your free credit reports on your behalf from the major credit bureaus and they are sent directly to you. This is done this every year you are a member.
Fifth, If your wallet ever goes missing, just give us a call - anytime, anywhere - and a WalletLock specialist will help you contact each credit card, bank or document issuing company, cancel your affected accounts and complete the paperwork and steps necessary to replace your lost documents*, including your credit/debit cards, driver's license, social security card, insurance cards, checkbook - even travelers checks - at no additional cost.
Sixth, we help you shut down potential identity threats fast with our identity monitoring package:
- eRecon scours known criminal websites for the illegal selling or trading of your personal information (including your Social Security number, credit card number, driverýs license and email address, if provided) and informs you when something is found.
- TrueAddress notifies you when we detect any new address information associated with your name in address databases nationwide. This helps alert you if a criminal has changed your address to steal mail and obtain your financial information.