10-second breakdown:
Thanks to some viral marketing earlier in its career, LifeLock has become a household name for identity theft protection in the same way Band-Aid is now synonymous with bandage adhesive fabric strip. There’s a lot of substance behind the flash, LifeLock offers great features for internet users as well as parents looking to keep their kids safe.
The good:
There are some advanced level monitoring features with Lifelock. Some of the areas your information is being guarded includes public records, websites that sell people’s personal data, file sharing sites and all of the “normal” places (e.g. credit reports and financial transactions).
The support crew is available 24 hours a day, 7 days a week. There aren’t very many services that provide this level of service and it’s handy if your identity is used in the middle of the night.
It’s not just a monitoring service. LifeLock has recovery assistance to get your identity back where it belongs.
The bad:
Service costs are definitely on the pricey end of the spectrum. It’s not outrageous, but higher than most competitors.
No medical identity protection is available. A growing concern in the ID theft world.
How it works:
Think back to the early 2000’s, before the identity theft industry was at the front of everyone’s minds. LifeLock came into the picture with tongue-in-cheek advertisements displaying the CEO’s actual social security number essentially egging thieves on. From then on LifeLock has become the most public protection company and in many ways the face of the industry.
You don’t stay in business for this long without having substance to back up marketing flash, and LifeLock delivers. They have a ‘five-point’ plan in place to help keep you protected.
The first point they cover is their ‘Service Guarantee,’ they offer up to $1 million to be used on lawyers, investigators and consultants. The neat part is that all American states are treated equally. A few of the competitors that offer a similar feature will limit the amount they’re willing to spend if you live in more population dense cities like New York City. With LifeLock, it doesn’t matter where you live.
The next protection point is LifeLock’s ‘ID Theft Alerts.’ If LifeLock notices anything funny, they can reach out to you and let you know what’s going on. If it’s not too late, they can also help fix your security and hopefully avoid any future problems. The neat part is that they can reach out to you via email, text or phone call depending on your personal preferences, most competitors will only text you.
Next up is their ‘Personal ID Monitoring,’ LifeLock works with the three top credit bureaus to make sure your name is removed from pre-approved credit mailing lists. It’s nice to see this included standard, pre-approved credit mailings are a big source of income for hackers, it’s very easy to swipe the application and take out a credit card under your name.
The fourth protection point is ‘Real Time Information Scanning.’ Using a formula designed in-house, LifeLock tracks any suspicious activity relating to your identity in real time. They go way further than the competition too, they can search the dark web to make sure your information isn’t being sold on some shady forum.
Last but not least is their ‘Credit Monitoring,’ LifeLock keeps track of any changes to your credit score and lets you know what they find. You can also check your score at any time day or night.
The five point protection plan really does cover all the bases, and in many ways they bend over backward to keep you protected in ways the competition can’t or won’t. They monitor and protect more information than anyone else as well, including your email address, bank account information and even your driver’s license.
One thing to note, the Federal Trade Commission (FTC) slapped LifeLock with a fine in 2010 for violating security and advertising practices. LifeLock maintained that they were innocent but had to pay out $100 million dollars. They’ve kept their nose clean since then and have tightened up security but it is a black mark on their permanent record.
LifeLock offers three different plans for you to choose from. While there’s no free trial all of the plans do offer a discount for committing to a year term up front.
The first plan is LifeLock’s ‘Standard’ offering. It costs $9.99 a month or $109.89 for an entire year. Standard comes with everything you need to feel safe, LifeLock’s five point protection plan, 24/7 US-Based support and black market surveillance.
Next up is the ‘Advantage’ program. It will set you back $19.99 a month or $219.89 for an entire year. Advantage comes with everything Standard offers, but also packages in fictitious identity monitoring, court records scanning and data breach notifications. This plan and the last also offer credit card, checking and savings account alerts – if they notice a foreign transaction they’ll shut it down before you’re out of house and home.
The last plan is LifeLock’s ‘Ultimate Plus’ program. It costs $29.99 a month or $329.89 if you want to pay for a full year upfront. Ultimate Plus comes with everything Advantage does including the financial alerts, and also manages to toss in bank account application alerts, monthly credit score tracking and sex offender registry reports.
Although LifeLock does offer some of the most comprehensive packages on the market, they are a little lacking when it comes to family plans. If you have a large family or are just looking for protection for you and your spouse, each person needs their own individual plan.
LifeLock might have become the most famous member of this list through cheeky advertising, but look beyond the surface and you find they are a reputable, strong identity theft protection company that focus on the future and keeping you safe in an increasingly online world.
For complete rankings of all identity theft protection services, go here.
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