- Early Warning: Text, phone and email alerts if suspicious activity occurs on your accounts.
- US-Based Support: Investigators, lawyers and an award-winning support staff.
- Highest-Rated Customer Service: A- BBB (click to verify) and 85.6% customer retention rate.
- No Penalties for Canceling: Cancel anytime with no contracts or penalties.
Ultimate Plus ™
30 DAYS FREE*
- Investment and bank account activity alerts to keep your money safe.
- Monthly single credit score tracking to help identify any changes to your credit profile.
- Sex offender notifications whenever a sex offender moves into your zip code.
- Priority live member support always puts you first in line to speak with customer service.
30 DAYS FREE*
- Secure on-line access to your annual credit report with score.
- Stolen funds replacement up to $100,000 of your hard earned money.
- Data breach notifications of large companies will keep you aware of potential intrusion.
- Public records scanning so you aren’t falsely arrested for a crime you never committed.
30 DAYS FREE*
- $1M service guarantee‡ to hire necessary specialists to help restore your identity.
- Live award winning customer support Service based in the US.
- Black market website surveillance of over 10,000 criminal sites.
- Lost/Stolen wallet protection helps cancel or replace your important cards.
LifeLock Cost – Most Bang for Your Buck
You’ve probably seen LifeLock’s commercials on TV, heard radio ads, or seen banners while surfing the internet. Since it’s creation in 2005, LifeLock has grown to become one of the leaders in the identity theft protection industry. They’ve built their membership base to over 4 million and growing.
Some critics say that LifeLock is a scam and you can do what they do for free. After reading this review, you will clearly see the services provided go above and beyond what you could do on your own.
In an industry that receives criticism for their reputation and service, LifeLock has an A- rating with the BBB and boasts an 85.6% retention rate. This success is because LifeLock offers identity theft protection that goes well beyond just standard credit monitoring.
LifeLock recently bought ID Analytics, a tech company that specializes in monitoring the financial world. Their patented technology allows LifeLock to identify suspicious activity quickly so its members can react to alerts even faster.
LifeLock Protects You in 3 Ways:
- Alerts : You’ll be alerted via phone/email if suspicious activity occurs on your accounts.
- Fix : If you become a victim of identity theft, LifeLock’s dedicated award winning recovery specialists will help fix your issues.
- $1M Service Guarantee: LifeLock will spend up to $1M on experts to restore your identity.
Critics of LifeLock’s identity theft protection say that you can do what LifeLock does minus the costs.
Now you can compare LifeLock vs. DIY identity theft protection to see if LifeLock is worth it.
LifeLock vs. DIY and is LifeLock Worth it
$1M Service Guarantee ‡
How it Protects – If your identity is compromised while being a member of LifeLock, they will spend up to $1 million on experts to help recover your identity.
DIY – If you need to hire necessary experts to restore your identity, it will come out of your pocket. You may get your money reimbursed from your bank or credit card company, but they won’t give additional funds to restore your identity.
LifeLock Identity Alert System
How it Protects – LifeLock scans over 1 trillion data points a day looking for suspicious activity under your name. If something seems fishy, they’ll send an alert by email or phone.
DIY – You can go to each credit bureau and request a fraud alert, however, it’s impossible to have that kind of patented software that’s capable of what LifeLock can do. You don’t have enough time in the day to monitor your identity for possible intrusions.
Identity Restoration Support
How it Protects – Identity restoration specialists (US based) are available day or night to personally handle your issue and help you restore your identity.
DIY – If you have your identity stolen, you’ll have to make all the time consuming phone calls yourself and figure out how to restore your identity on your own.
Reduced Pre-Approved Credit Card Offers
How it Protects – LifeLock will request your name to be removed from multiple pre-approved credit card mailing lists.
DIY – You can do this yourself for free through optoutprescreen.com.
Stolen Funds Replacement
How it Protects – If you become a victim of identity theft, LifeLock will reimburse you for lost funds up to $25,000. This will include fraudulent bank and investment account withdrawals and tax returns filed in your name.
DIY – Most identity theft protection companies don’t offer this benefit either.
Verification of Address Changes
How it Protects – LifeLock will let you know if there’s any change of address requests associated to your identity.
DIY – Address changes show up on your credit report. You can request a free credit monitoring account with Credit Karma – it’s good for this.
Black Market Website Surveillance
How it Protects – There are over 10,000 criminal websites that LifeLock monitors looking for your data being bought and sold by identity thieves.
DIY – You would need sophisticated software and the knowhow of the different sites to monitor.
Lost Wallet Protection
How it Protects – If your wallet is lost/stolen, call LifeLock and they will help cancel and replace credit cards, diver’s licenses, Social Security cards, and insurance cards.
DIY – You can do this by making the necessary calls, however LifeLock will cover up to $2,000 per stolen identity event in document replacement costs.
LifeLock Advantage Plan: These benefits include everything from the Standard Plan and more:
Data Breach Notifications
How it Protects – LifeLock will notify you anytime there are large-scale data breaches.
DIY – You can setup Google notifications on your news feed to notify you if a data breach occurs.
Fictitious Identity Monitoring
How it Protects – LifeLock scans for names and addresses connected to your SS# to help protect against identity thieves creating fake identities to commit fraud.
DIY – You would need sophisticated software to be able to monitor the cross referencing of your name and SS# across the Internet.
How it Protects – They scan court record matches of your name and DOB to criminal activity. This is to protect you from being falsely linked to arrests that you had no part of.
DIY – You could go down to your local courthouse and request your public records from the courthouse. But how often could you possibly do that and you couldn’t do that across the country.
Annual Credit Report and Score
How it Protects – The Advantage Plan (1 credit bureau) offers access to your annual credit report and score from a credit bureau so you can review your credit profile and evaluate your credit worthiness.
DIY – You can get your credit report for free once a year at annualcreditreport.com.
Credit Card & Bank Account Activity Alerts
How it Protects – You receive alerts for large purchases, withdrawals, and balance transfers to help catch fraudulent activity.
DIY – If you aren’t doing so, you should check your accounts daily on-line. Most banks and credit card companies already send suspicious alerts.
LifeLock Ultimate Plus Plan: These benefits include everything from the Advantage Plan and more:
Priority Live Member Support
What You Get from LifeLock– You get front of the line privileges whenever you call LifeLock.
DIY – If you have your identity stolen. You will have to make all the time consuming phone calls yourself and figure out how to restore your identity on your own.
Bank Account Takeover Alerts
How it Protects – Identity thieves use techniques to take your account over or add new account holders without your knowledge. LifeLock monitors your accounts for these subtle changes.
DIY– You will need to pay attention and look for subtle differences in your account. It’s recommended to go online daily and check on your accounts.
Investment Account Activity Alerts
How it Protects – LifeLock monitors your investment accounts and alerts you whenever suspicious cash withdrawals or balance transfers occur.
DIY – Most investment firms have the option to send you alerts if any large transactions are being withdrawn or transferred.
Sex Offender Registry Reports
How it Protects – LifeLock will send you notifications when sex offenders move into your neighborhood.
DIY – No. You can use free services like familywatchdog.us to find sex offenders in your zip code. However, you would need to make sure you consistently check the site for new sex offenders moving to your neighborhood. But with LifeLock, they’ll alert you whenever someone new moves into your area.
Monthly Credit Score Tracking
How it Protects – You receive a monthly single-bureau credit score to track any significant changes that happen over time.
DIY – Almost every credit card provider offers this same service for free.
Annual Credit Report and Score
How it Protects – The Ultimate Plus Plan offers access to your annual credit report and score from all 3 credit bureaus so you can review your credit profile and evaluate your credit worthiness.
DIY – You can get your credit report for free once a year at annualcreditreport.com.
File Sharing Network Searches
How it Protects – LifeLock monitors popular social networks for the use of your name, SS#, date of birth, or contact information. If anything is found, you’ll be notified so you can take action.
DIY – There’s no way you could monitor every social media outlet looking for your personal information.
Identity theft is a problem that is becoming more and more prevalent as years pass. With people having access to improved technology, it’s now easier than before to steal others personal and sensitive protection. This is why it’s so important that you take steps to protect yourself and your financial future.
While there are some free identity theft protection options out there, they are not going to provide you with the service, features or peace of mind that goes along with LifeLock. This review will help you can learn more about the service, ID protection in general, and why you shouldn’t leave your good name to chance. So to answer the question, is LifeLock worth it, the answer is Yes!
LifeLock identity protection offers customers three packages, as well as a LifeLock Junior package that was specifically designed to protect minors. The company is extremely proud of the 5 Points of Protection that helped propel it to the top of the list in regard to identity theft companies.
LifeLock Pros and Cons
When you begin looking into identity theft protection options, you will discover there are more than a few options available. However, getting to know the benefits of LifeLock can help you see why it is a smart option:
- Over $1 million service guarantee for each of the packages offered
- Provides a pro-rated refund if you choose to cancel before the year-long membership has expired
- Automatically detects if your information is used to apply for mortgage loans, utilities, retail credit or wireless services
- Offers customers 24/7 support
- Choose LifeLock Junior to help protect your children’s identity
Just like anything else you may plan to purchase, LifeLock does come with a few disadvantages, as well. If you want to make an educated decision about the company you choose for privacy protection, you need to be properly informed. The LifeLock complaints include:
- Only runs scans on your credit report occasionally while other providers run them daily. This may result in a delay in finding suspicious activity.
- No credit monitoring reports, no credit history reports and no fraud alerts provided.
- The customer service is hit or miss in some situations.
- There is no protection for your vehicle registration plate or your insurance records.
There are three different packages offered by LifeLock. While the company does not offer free identity theft protection, you can always take advantage of the LifeLock free trial.
Package #1 : Standard – LifeLock Costs $8.99 per month
This package includes lost wallet protection, address change verification, reduced pre-approved credit card offers, and black market web surveillance.
Package #2: Advantage – LifeLock Costs $17.99 per month
The LifeLock Advantage package includes lost wallet protection, address change verification, reduced pre-approved credit card offers, black market web surveillance, fictitious identity monitoring, scanning of court records, notifications for data breaches, and online annual credit reports (for one credit bureau).
Package #3: Ultimate Plus – LifeLock Costs $26.99 per month
LifeLock Ultimate Plus is the biggest plan provided and offers everything the first two plans do, as well as online annual credit reports for all three credit bureaus, alerts for new activities in investment account, savings and checking account application alerts, alerts for bank account takeovers, new credit inquiry activity, searches on file sharing network, reports on the sex offender registry and monthly tracking of your credit score.
Understanding LifeLock Junior
This is a plan that is specifically designed to protect the identity of your children. It can be added to any of the packages listed above for just $5.99 per month. The LifeLock Junior plan will monitor all of your child’s personal information and help to protect their identity. Included with this package, are internet scanning services and credit scanning services.
Key Features of LifeLock ID Protection
The company offers 5 Points of Protection for members, which include:
- Monitoring of more than a trillion data points
- Regular scans to find threats against your identity
- Restoration of your reputation and your identity if it is compromised
- Credit score tracking
- Guarantee of $1 million
LifeLock Review Wrap-Up
Yes, you can do many of the services they offer, but do you really want to spend all that time and effort? Or would you rather let a company that specializes in monitoring and protecting your identity to keep an eye on you for an affordable monthly fee.
Nobody is completely safe from identity theft, but it’s pretty convenient to have an insurance policy that covers financial loss and has the ability to hire professionals to restore your identity if needed.
By joining LifeLock, you’re paying to free up your precious time and gaining peace of mind. Time is a precious commodity that you can never get back. Why would you ever want to spend time monitoring and restoring your identity when you can outsource it and focus on more important things in your life?
If you’re on the fence with joining, you can try it 30 days risk-free and receive a LifeLock Promo Code of 10% off the membership. You can always cancel with no strings attached.
- LifeLock Identity Alert® System†
- Lost Wallet Protection
- Address Change Verification
- Black Market Website Surveillance
- LifeLock Privacy Monitor
- Reduced Pre-Approved Credit Card Offers
- Live Member Service Support
- Identity Restoration Support
- $1 Million Service Guarantee‡
- Stolen Funds Replacement‡
- Fictitious Identity Monitoring
- Court Records Scanning
- Data Breach Notifications
- Credit Card Activity Alerts†
- Checking and Savings Account Activity Alerts†
- Online Annual Credit Report
- Online Annual Credit Score
- Checking and Savings Account Application Alerts†
- Bank Account Takeover Alerts†
- Investment Account Activity Alerts†
- Credit Inquiry Alerts†
- Online Annual Tri-Bureau Credit Reports
- Online Annual Tri-Bureau Credit Scores
- Monthly Credit Score Tracking
- File Sharing Network Searches
- Sex Offender Registry Reports
- Priority Live Member Service Support
Plus Applicable Sales Tax
Plus Applicable Sales Tax
Plus Applicable Sales Tax
- $1 million
LifeLock’s homepage is easy to navigate and allows you to access the most important information instantly. In case you update your services or membership, this change will be displayed at the top of the dashboard and you opt to read the information in detail. LifeLock encourages its members to complete their profiles 100% to ensure that they reap optimal benefits from its protection features and services. Depending on the package you decide to subscribe to, all the important information will be displayed on your dashboard once you’re logged in.
In case LifeLock suspects any fraudulent activity in regard to your identity, they will alert you immediately via phone, email or SMS depending on your chosen communication preference. The company also allows members to choose identity theft news topics they’d like to receive regularly. This keeps LifeLock members informed about identity scams.
Notifications and Reports
LifeLock Review 2016. Editor’s LifeLock® review: BBB, Consumer Reports, Yelp. 85.6% Customer Retention Rate. Redeem Risk-Free 30-day trial & receive a LifeLock Promo Code of 10% instantly. This section of the LifeLock member interface lets customers see their notifications and alerts. Detailed descriptions pertaining to their existing public records, internet monitoring and accounts can be accessed quite easily. Even better is that the credit reports are broken down to ensure customers understand them easily.
Rather than call support every time one needs to make changes, the company has made it easy for members to add other members to their account or upgrade their packages with just but a click of a button. All the communication preferences, billing information and anything pertaining to your account can be viewed on your easy-to-navigate portal.
In case of any questions or inquiries, LifeLock offers their 24/7 support team that’s tasked with helping you with whatever you need.
Identity Theft Insurance Details
In case you fall victim to identity theft, this policy coverage covers the following according to the State National Insurance Company’s definition:
- Travelling expenses of up to $2500 for every incidence of identity theft
- Replacement of documents of up to $2000 for every case of identity theft
- Loss of income: A Maximum of $200 every day for a period of up to one month. This amount shouldn’t exceed beyond $6,000 for every case of identity theft.
- Fraudulent withdrawals from a brokerage or bank account and credit card: A maximum of $10,000 for every single identity theft case.
- Childcare and elderly care: A maximum of $200 per day and $6,000 per month for a maximum of one month for every identity theft case.
- Legal remediation services and case management services costs: A total of $1 million for every case of identity theft.
What’s NOT Included
Believe it or not, there are some things that whose occurrence may prevent members from being covered in the event that they are victimized. Such include fraudulent withdrawals by members of the immediate family. In addition, failure to report incidences more than 90 days after discovering them can also prevent LifeLock members from being covered.
Member’s obligations and duties
To ensure receipt of the benefits of the $1 million service guarantee or those listed in the insurance, every member should adhere to the following.
- After discovering losses, members should take all the appropriate measures to prevent funds from being stolen any more
- Report card or bank issues in accordance to the laid out terms and conditions
- Provide full cooperation and assistance to aid investigations
- Waivers for applicable fees should be requested
- Submit all the required information and documents to the insurance
- Follow reasonable process for reimbursements
Information Collected During Sign Up
It includes name, email address, phone number, social security number, date of birth, age, gender, postal address, identity verification details e.g. the name of your pet, government identifying information e.g. driver’s license number, financial information and any other information that can be provided voluntarily, communication preferences, product interests and preferences, contact information of other people you’d wish to sign up as LifeLock members as well as information provided in emails or calls.
Information Collected from Third Parties
Information collected from third parties that LifeLock works in partnership with allows the company to provide high quality identity theft protection to its clients. Such parties include data aggregators, public databases, and ID analytics. Other information collected includes number of children, marital status, consumer and market research data, purchase behavior, interests and online behavior.
LifeLock Company Information
LifeLock was established in 2005 by Robert Maynard and Todd Davis and is based in Arizona, US. In 2008, the company signed a deal with TransUnion that allowed LifeLock to alert its customers of any suspicious activity regarding their credit reports. Four years later, LifeLock entered into partnership with the oldest independent bank in Texas, First Victoria Bank, and bought ID Analytics which provides effective risk and fraud management solutions based on predictive analytics. In late 2012, LifeLock became a public company with an initial public offering valued at $175 million. It now trades at New York Stock Exchange under the symbol LOCK.
There are four different types of products offered by LifeLock and the most popular one is identity theft protection. The others include service for credit monitoring services, protection against bank account takeover and monitoring public records.
Non-Profit Community Involvement
Currently, LifeLock works in partnership with FBI Law Enforcement Executive Development Association. This partnership has allowed more than 11,000 law enforcement officers from all over the country to be trained on identity theft. Other non-profit organizations that LifeLock has worked with or continues to work with include CyberWatch, National Parent Teacher Association, National Organization for Victim Assistance or NOVA, and ETPRO among others.
LifeLock uses it’s state of the art technology that scans a trillion data points each day of threats that may affect their customers of identity theft. If there’s any type of suspicious activity, LifeLock will send a fraud alert to the customer by phone call, text, or email. If there’s any breach in a customer’s identity while being a member, Lifelock will back them with a $1 Million total service guarantee.
LifeLock has three different priced plans depending on what level of coverage a customer is looking for. LifeLock standard is $9.99 per month and it offers basic coverage. LifeLock Advantage is $19.99 per month, and that monitors your finances in depth. LIfeLock Ultimate Plus is $29.99 per month (best membership plan), is the most comprehensive plan with credit reporting.
LifeLock is effective because of its 3 layers of protection. Detection- by using advanced technology that constantly monitors any suspicious activity of the client. Alert- If there is potential fraud, the customer is alerted by text, phone, or email. Restore- LifeLock’s award winning support takes charge of the situation for the customer and will help restore their identity.
LifeLock is rated amongst the top vendors in the identity theft protection industry. There are multiple identity theft protection review sites that give LifeLock a high quality rating.
LifeLock is not a rip-off because you’re paying for peace of mind. You receive benefits that you can’t get trying to monitor your credit on your own which include: $1 Million service guarantee, lost wallet protection, and many more services.
LifeLock is worth the money because of peace of mind and amount of time saved. You can never get your precious time back trying to restore your identity. That’s why it’s worth having LifeLock protect you.
With over 1 trillion data points of protection, LifeLock’s patented technology monitors you better than you could ever possibly do on your own.
LifeLock has an A- rating with the BBB. It’s a legit company that protects millions of people from identity theft and is publicly traded in NYSE.
Being a member of LifeLock can only help your credit by monitoring your credit profile so no identity thieves can do any damage to your credit score.
Although they were hit with $100 Million penalty from the FTC, LifeLock has made amends and has become one of the most trusted companies in the identity theft niche. On 6/14/2016 LifeLock was named to the Online Trust Alliance for its leadership in security, privacy, and consumer protection.
Yes, you can cancel LifeLock anytime, either by phone (800) 543-3562, or online and follow these directions: sign into your Member Portal, click on Support>Request Support>Cancellation.
You can do some of the services that LifeLock offers (fraud alert, Opt-out lists, etc.) if you are the DIY type. But you won’t have access to their patented technology that scans black market sites 24/7 or have the $1 million service guarantee.
Yes, you can cancel LifeLock in their online portal. Follow these steps: sign into your Member Portal, click on Support>Request Support>Cancellation.
Conclusion: Is LifeLock the Best Identity Theft Protection?
LifeLock is a dependable company that provides a reliable service that people can count on. We recommend that it’s your best to go with the Advantage or Ultimate Plus packages because you get the most bang for your buck with all the added benefits.
As an added layer of encrypted data protection, LifeLock stores your data on a cloud-based secured server backed by a $1 million privacy guarantee. This allows them to respond if they find suspicious activity. We really like the fact that they offer live award-winning U.S.-based member support agents that are available whenever you need them.
Cyber theft doesn’t rest, but neither does LifeLock. That gives their members extra peace of mind.
No one can prevent all identity theft. † LifeLock does not monitor all transactions at all businesses. ** Fastest alerts require member’s current email address.
‡ Stolen Funds Replacement and Service Guarantee benefits for State of New York members are provided under a Master Insurance Policy issued by State National Insurance Company. Benefits for all other members are provided under a Master Insurance Policy underwritten by United Specialty Insurance Company. Under the Service Guarantee LifeLock will spend up to $1 million to hire experts to help your recovery. Under the Stolen Funds Replacement, LifeLock will reimburse stolen funds up to $25,000 for Standard membership, up to $100,000 for advantage membership and up to $1 million for Ultimate Plus membership. Please see the policy for terms, conditions and exclusions at LifeLock.com/legal