LifeLock is an online monitoring service that claims to help stop identity fraud before the damage is done. By searching for more than “a trillion data points” each day, the company claims to give you “peace of mind in a connected world,” and to “protect you in ways you cannot protect yourself.”
In business since 2005 and based out of Tempe, AZ, LifeLock holds an A+ rating with the Better Business Bureau, and 81 closed complaints over the past three years. The most common complaints appeared to be related to the fact that nearly all services provide by LifeLock can be obtained elsewhere for free, as well as poor customer service. With this said, it appears the company addresses most online complaints quickly.
How LifeLock Works
According to the LifeLock website, there were 11.6 million victims of identity theft last year, largely due to the ease of accessing information in the internet age. Because of this, the company claims to know exactly what to do to help if you become a victim, and to provide three layers of protection:
- Detect – Claims to search more than “a trillion data points” daily that may indicate a breach to your identity.
- Alert – LifeLock’s patented Identity Alert system will immediately notify you if a threat is detected.
- Restore – Certified Resolution Specialists will “handle your case every step of the way” if you do become a victim.
LifeLock claims that you can sign up for their services in less than three minutes, through two different plans:
- LifeLock – Includes ID theft detection and alerts, lost wallet protection, black market website surveillance, and address change verification.
- LifeLock Ultimate – Includes everything found in the basic plan, in addition to alias monitoring, court records scanning, unauthorized loan notifications, credit score tracking, and more.
In addition, the company offers additional products such as the LifeLock Wallet, which is an iOS and Android app that allows you to digitally store all the cards in your physical wallet, and also to view fraud alerts on your phone. You can also have your child’s credit monitored through LifeLock Junior.
LifeLock backs up all of their services through their $1M guarantee, which states that if you fall victim to an identity thief, LifeLock will spend up to $1 million dollars “to hire experts, lawyers, investigators, consultants and whoever else it takes to help your recovery.” This service is provided without a deductible.
LifeLock Pricing & Refund Policy
LifeLock services are priced as follows:
- LifeLock: $10 per month, or $110 per year.
- LifeLock Ultimate: $25 per month, or $250 per year.
Your LifeLock account can be cancelled at any time, and you may be eligible for a pro-rated refund at that time. To begin the refund process, you should call 1-800-LIFELOCK, or log in to your member portal.
- Claims to use 5 points of protection to ensure your identity is not stolen, and your credit remains in tact.
- Searches over a trillion points each day looking for signs of identity fraud.
- Counselors are available 24/7/365.
- $1 million guarantee.
- Many of the services provided by LifeLock can be obtained for free elsewhere (though not all in one place).
- LifeLock only notifies you of a breach, but does not take precautions to prevent it. In other words, they’ll let you know if your identity has been compromised, but it will be up to you to contact the authorities, etc.
If you’re pressed for time, LifeLock can provide beneficial credit and identity monitoring services. However, keep in mind that many of the services can be obtained for free by doing a little extra legwork.