How does LifeLock prevent identity theft and fraud?

LifeLock provides a proactive identity theft service, specializing in the prevention of identity theft rather than the reporting of it. LifeLock was founded in 2005 and is already considered the industry leader.

As a consumer, you have rights that allow you to take more control over who uses your identity and how they use it. LifeLock takes care of the details, and enforces those rights. LifeLock is so confident in the service it provides, they offer an exclusive $1,000,000 Guarantee in effect from day one. And they only charge $10 per month to do it.

LifeLock will work with the credit bureaus to set fraud alerts on your behalf. Usually, this is done through an automated system and the alerts are set within an hour, or if your address is not up to date, it will be done manually, and again every 90 days.

LifeLock will also help remove your name and address from pre-approved credit card and junk mail lists and keep making the requests on a regular basis. Statistics show that this is one of the most common ways that thieves steal identities. You probably won't miss getting junk mail will you? Many customers sign up for this benefit alone!

As a LifeLock customer you will automatically recieve free credit reports from the major credit bureaus sent directly to you, once a year.

Last, and most importantly: If your Identity is stolen while you are a LifeLock client, LifeLock will do whatever it takes to recover your good name. With a team of the best lawyers, investigators, accountants, case managers, and other professionals at your disposal, you have the best of the best on your side.

The LifeLock Guarantee:

If your Identity is misused while you are our client, we’ll spend up to $1,000,000 to make it right.

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.

If you have a reason to think that you will become a victim of Identity Theft, we can help you stop looking over your shoulder, because we’ve got your back.

What is a Fraud Alert?

It “alerts” anyone seeking to do something with your credit (like give you a new credit card, increase credit lines, apply for insurance, leases, cell phones, cars, houses…) that you are concerned that your Identity may have been stolen.

The bank (cellphone or insurance company, landlord, etc…) is then supposed to take extra care to identify who you are and that the transaction is valid. They normally do this by calling you at the phone number you tell us to give them.

Fraud alerts establish road blocks if identity thieves attempt to use your good name to obtain credit. The alerts tell any company that uses your credit report, such as a bank or insurance company, that the person using your name may be a thief. The creditor, lender, or other prospective user of a consumer report must take steps to verify your identity before it can:

* Issue new credit
* Increase credit lines
* Arrange loans
* Create new accounts for such things as utilities and cellular phones

After a fraud alert has been placed in your credit file, any creditor using that credit file to grant new credit or an extension of credit in your name must contact you by telephone (using the phone number specified in the fraud alert) or take reasonable steps to verify your identity and confirm that the credit application is not the result of identity theft. If someone else is trying to use your identity to get credit, the fraud alert usually stops them cold. We say “usually” because nothing is perfect. That’s why we have a Guarantee.

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