I subscribed to Lifelock last week. I've been meaning to post about it but I forgot. Today I got notices from all three credit bureaus that a fraud alert has been placed on both my husband and my accounts, which triggered me to remember to blog about it.
Here's what LifeLock does: (Exact text from their site)
1. First, we ask 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. From time to time there may be a hitch and we have to do the first one manually, usually because they have a different address on file for you. If this happens, we'll tell you right away and do what needs to be done to get the alerts set. (In case you're wondering, we don't charge anything more for this and our Total Service Guarantee is still in effect from day one.) This was done within the first couple of days of signing up.
2. Second, unless your circumstances change and you tell us not to, every 90 days or so we ask the credit bureaus to do it again. You can do this for free if you'd prefer, but we make sure it gets done and that it gets done right. That's where the oil change analogy we were talking about kicks in. This is awesome, because I wouldn't remember to do this!
3. Third, we request 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 of our members tell us that this alone is worth the price. If you are a do-it-yourselfer, you can do this for free, but why not let us do it for you? Boy do I love this one. Now if they would only do it with the telemarketers!
4. Fourth, we order your free credit reports on your behalf from the major credit bureaus and they are sent directly to you. We do this every year. You can also do this yourself for free (Pennzoil anyone?). Once again, this is a nice feature.
5. Fifth, hassling with lost or stolen wallets is no longer a problem with WalletLock™. If ever your wallet 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. I added to the safeguarding of this by copying all the cards that are in my wallet. So if this should happen, I know exactly what was in my wallet. They don't recover cash or pictures, but I don't carry enough cash for it to be life threatening.
6. Last, but certainly not least: If your Identity is stolen while you are a member of LifeLock, we're going to do whatever it takes to recover your good name. If you need lawyers, we're going to hire the best we can find. If you need investigators, accountants, case managers, whatever, they're yours. If you lose money as a result of the theft, we're going to give it back to you. I hope I never need this, but I'm glad it's there.
We will do whatever it takes to help you recover your good name and we will spend up to $1,000,000 to do it. 1,000,000.00 is plenty. :)
This service cost us $198 for both my husband and myself. We feel this was money well-spent. In an age when there is so many opportunities for identity theft, we will sleep a bit better knowing we have this protection.