LifeLock Review: Identity Theft Protection
|Sign up for LifeLock|
|Strong overall value and identity theft protection; free 30-day trial & 10% discount; no credit scores or credit report monitoring|
[Editor's Note: For a limited time, LifeLock is offering a free 30-day trial and 10% discount to NextAdvisor.com visitors. There is no coupon code required to take advantage of this offer but you must click on a link from our site. So simply click on any LifeLock link on NextAdvisor.com to take advantage of this limited time discount pricing. From now through December, LifeLock is also offering a 15% discount to NextAdvisor readers. This offer does not include the free 30-day trial. Click on this link to take advantage of the 15% discount.]
LifeLock is a good option for identity theft protection that is complete with active monitoring, lost wallet protection and an annual 3-bureau credit report. In the event that you fall victim to identity theft while signed up for the service, you're backed by LifeLock's $1 million guarantee and given direct access to its fraud resolution teams who will help you restore your good credit and name.
Pricing and Products
LifeLock offers two identity theft protection services: their well-known LifeLock and the more advanced LifeLock Ultimate. Both products are excellent — we've detailed the LifeLock product information in our comparison table, but will discuss both LifeLock and LifeLock Ultimate in this review.
With the 10% discount, LifeLock is $8.25/month when paid annually or $9/month when paid month-to-month. LifeLock Ultimate is more expensive at $20.63/month when paid annually, or $22.50/month if you choose to pay monthly. Both LifeLock and LifeLock Ultimate include a free 30-day trial. (Note: the information seen in the compare page table and on the right side of this review page is for LifeLock only and does not apply to LifeLock Ultimate.)
With the 15% discount, LifeLock costs $7.79/month when paid annually or $8.50 when paid monthly. The more expensive LifeLock Ultimate costs $19.48/month when paid annually or $21.25/month when paid monthly. The 15% discount offer does not include the free 30-day trial.
LifeLock and LifeLock Ultimate each feature proactive monitoring of your personal information, lost wallet protection, 24/7 customer service, fraud resolution, annual credit report updates and identity theft insurance. LifeLock Ultimate includes everything LifeLock offers, but adds several enhancements including expanded monitoring for identity theft, 3-bureau credit monitoring, surveillance of public and court records, scanning for fraudulent new bank accounts, alternate name scanning, and surveillance of unregulated global networks and file-sharing sites.
LifeLock also offers protection for children with LifeLock Junior. This plan allows you to add your children to an existing adult's LifeLock or LifeLock Ultimate plan for only $5.09/month or $56.09/year — including the 10 percent discount. LifeLock Junior monitors for your child's information on applications for credit cards, wireless services, retail credit, utilities, mortgages, auto and payday loans, and alerts you if suspicious activity is detected. It also monitors your child's social security number to verify that no credit files are associated with it, and scans more than 10,000 criminal websites on the Internet black market to verify that your child's personal information is not being sold. Since children and young adults often use peer-to-peer sharing websites, LifeLock also searches these networks for exposure of your child's personal information. And, in the event that your child is a victim of identity theft as a member of LifeLock Junior, your child will be protected by LifeLock's $1 million guarantee.
Signing up for LifeLock was quick for us. LifeLock walks you through the personal information registration process so it can actively monitor for any potentially fraudulent use. Although it's easy to put this step off, don't. It's important to input all your personal information as soon as possible so that LifeLock can fully protect you. When we called customer service with some questions, we didn't have to wait more than a moment for someone to pick up the phone, and they are available 24/7 for any questions or problems.
Identity Theft Protection
LifeLock helps protect your identity using several different methods. They start with their proprietary LifeLock Identity AlertTM technology, which uses unique data sources to provide a broader range of protection than just credit report monitoring. You'll be alerted if any suspicious activity is found, such as if your personal information is being used to open new credit cards, wireless services, retail credits, utilities, check orders/reorders, mortgage loans, non-credit related payday loans and auto loans. Alerts are sent via email and/or phone. Your online account will also be updated with any alert information.
Next LifeLock adds scanning of the Internet's black markets for any use of your credit card numbers, driver's license, social security number and email, alerting you if your personal information is found. They also scour national databases for new address information and notify you if your address has been changed, a common tactic of identity thieves. In addition, they reduce pre-approved credit offers with your name on them from circulating, thereby reducing your chance of having your identity stolen.
LifeLock Ultimate builds on everything LifeLock offers and adds monitoring of file-sharing sites, surveillance of public and court records and nationwide monitoring for any non-credit related payday loans opened with your social security number, date of birth and name. LifeLock Ultimate will also alert you when new savings or checking accounts are opened or your existing bank account information changes. LifeLock Ultimate differs from LifeLock in the way they monitor for payday loans because Ultimate scans for any payday loans opened with your personal information in both the past and the present while LifeLock just scans for payday loans from the date you start your subscription.
LifeLock Ultimate further distinguishes itself from the LifeLock product by providing 3-bureau credit report monitoring and monthly tracking of your TransUnion credit score. Credit monitoring helps catch any fraudulent credit applications or other signs of identity theft before they can further damage your good name. Members are alerted via email/text when a significant change occurs to any of their credit reports, including new credit applications, credit inquiries, address changes, delinquent accounts, bankruptcies and liens.
If you discover that there has been an attempt to open a fraudulent account in your name, both LifeLock and LifeLock Ultimate provide access to a dedicated remediation specialist who will work with you to get the situation resolved free of charge. Since most identity theft occurs when thieves use your personal information to open new credit accounts (credit cards, bank accounts, phone accounts, etc.), LifeLock aims to prevent identity theft by stopping the fraudulent accounts from being opened in the first place. LifeLock also offers an excellent solution to protect children from identity theft—LifeLock for Minors. Child identity theft is an even faster growing crime than identity theft against adults.
In addition to monitoring for any new accounts opened in your name, LifeLock and LifeLock Ultimate will mail you a 3-bureau credit report annually at the time of the anniversary of your sign up with the company. Unfortunately, these are the same reports you can request for free every year yourself, and if you've already received these reports within the last 12 months you won't get new ones. On our wish list is for this service are actual free credit reports that aren't tied to the ones you're allowed by law and more frequent credit report updates, like some of the other identity theft protection services we review.
And although LifeLock Ultimate includes 3-bureau credit monitoring and monthly credit scores from TransUnion, it would also be a plus if LifeLock did too. LifeLock subscribers can get credit report monitoring and credit scores by signing up for the add-on Credit Score Manager service, but there is an extra cost.
LifeLock and LifeLock Ultimate include WalletLock, a lost wallet remediation service that helps to cancel and replace credit and debit cards. If your wallet is ever stolen, you just call LifeLock and speak to a WalletLock specialist, who will 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.
Identity Theft Guarantee
LifeLock's guarantee* applies to both their LifeLock and LifeLock Ultimate products, and is one of the best out of any of the top companies for identity protection. They guarantee your good name up to $1 million if your identity is ever stolen. While this guarantee is great, direct monetary losses from identity theft are almost always much smaller since you are not legally responsible for paying any fraudulent debt a thief accumulated. The real cost of identity theft is the loss of ability to get credit for an extended period of time, the time and effort it takes to restore your good name, and many other adverse consequences that can even include mistaken incarceration.
Overall, LifeLock is a pioneer in identity theft protection and still offers one of the best values in the category. The pricier LifeLock Ultimate builds upon their standard LifeLock product, offering more advanced identity theft protection methods, 3-bureau credit monitoring and monthly TransUnion credit scores. Although we wish both services provided credit report updates more frequently than once a year, they are still both excellent identity theft protection products backed by 24/7 customer support and a fraud resolution team.
*The benefits under the Service Guarantee are provided under a Master Insurance Policy underwritten by State National Insurance Company. Under the Service Guarantee LifeLock will spend up to $1 million to hire experts to help your recovery. As this is only a summary please see the actual policy for applicable terms and restrictions at LifeLock.com.
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LifeLock Forum Posts
- How much does LifeLock cost?
If you decide to sign up for LifeLock, then you have a lot of different options for plans themselves as well as payment options....
- How much does LifeLock cost?
How much is it for life lock
- Does one membership protect a married couple?
In order for both you and your spouse to be completely protected, you'd both need to sign up for the service individually. For the LifeLock basic...
- Does one membership protect a married couple?
For a married couple are both included in one account or is there a family plan? Do both need separate accounts? Cost?
- Does one LifeLock Ultimate membership also protect my spouse?
LifeLock Ultimate only protects one person, and in order for both you and your spouse to get complete protection, you'd need to sign up individually....