What is LifeLock and Can It Protect My Credit?

Don Crider |

Before the rise of identity theft, most people could go through life without ever being the victim of a crime. Now, with the advent of the Internet and the increasing tenaciousness of fraudsters and thieves, there is better than a 1 in 8 chance that you will become a victim of a crime. Identity theft is more insidious than other types of theft crimes because the victims are often not aware they have been victimized until long after the crime. That’s where identity theft protection comes in. It’s not surprising then that identity theft protection is one of the fastest growing industries around, and LifeLock has staked its claim as one of the leaders in the field.

What exactly does LifeLock do for you?

Credit Monitoring

First and foremost, LifeLock stays right on top of your credit when you can’t. LifeLock continuously monitors the credit bureaus and provides you with instant alerts that you can retrieve from your dashboard. It will also go directly to the credit bureaus on your behalf to help you keep your name off of credit card company mailing lists.

With LifeLock’s Credit Score Manager, your credit score will be continuously monitored and you’ll receive regular updates for your TransUnion credit score. You’ll also receive one free credit report a year from each of the credit bureaus.

If you subscribe to its premium service, Ultimate Protection, LifeLock will also comb the public and court records for any instance of your name appearing in them.

Identity Theft Protection

LifeLock is on the constant lookout for any incidence in which your personal information changes, such as a new address, or new credit card applications. It will even search through websites known to be operated by fraudsters who deal in stolen personal information

Instant Notification

At the moment LifeLock spies an attempt to exploit or threaten your identity, it will send you a notification.

Wallet Protection

If your wallet is stolen or lost, LifeLock will immediately contact your financial institutions to cancel your credit cards and secure your bank accounts. This can ensure quick and painless replacement of your credit cards. LifeLock provides 24/7 customer support so you can receive immediate assistance whenever your loss occurs.

$1 Million Service Guarantee

LifeLock famously advertises its $1 Million Service Guarantee, which, if you do fall victim to an extensive identity theft, could come in handy. They’ll spend up to that amount putting a team of attorneys and investigators together to get your identity back and cover certain costs you personally incur as a result of the theft.

So, Can LifeLock Protect My Credit?

While LifeLock might not be able to prevent a fraud or theft that could negatively impact your credit, its combined services will greatly reduce the risk of occurrence. And should a thief sneak through the LifeLock firewall, you have the $1 Million Service Guarantee that LifeLock will help you get your identity back and fix your credit in the process.

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