Key Takeaways
- Comprehensive identity theft monitoring and recovery services
- Instant fraud alerts via the LifeLock Identity app
- Annual plans offer a 60-day money-back guarantee
- Restore your identity with dedicated U.S.-based agents
- Receive up to $1 million coverage for stolen funds reimbursement
Identity Theft Monitoring and Recovery
In a 2021 report, the Federal Trade Commission revealed that in 2020, identity theft cases in the United States had increased by nearly 115% since 2019. This spike in stolen identities in the COVID-19 pandemic years has prompted many of us to be more vigilant about our personal information and online presence. But it can be difficult to carve out the time it takes from a busy life to fully monitor your profile.
Enter identity theft protection services. These firms keep track of your personal data, alert you to suspicious activity, and help restore your identity if it’s compromised. It’s important to note, however, that they can’t prevent identity theft from happening. Their role is to discover it quicker than you would yourself, in places you wouldn’t think to look, and help you stop it in its tracks.
Because the range of companies operating in this space and the variety of services they offer can be overwhelming, we’ve compiled this review of a major player in the industry: LifeLock.
Read on to find out if outsourcing your personal identity protection to LifeLock is the right choice for you.
LifeLock – About the Company
LifeLock has operated since 2005, with its headquarters in Tempe, Arizona. It has 4.4 million members and has helped countless individuals and businesses with identity theft protection and recovery. Its association with Norton since 2017 means it also offers cybersecurity services as an added layer of defense against potential fraud.
LifeLock’s services include:
Identity monitoring
- Tracks activity related to your identity and social security number(s)
- Verifies changes to your USPS addresses
- Scans dark web content
- Monitors public records
- Detects crimes committed in your name
- Analyzes social media for suspicious activity related to your identity
Credit monitoring
- Tracks your credit profiles with the three main credit bureaus
- Provides you with credit score updates
- Supplies you with credit reports
- Locks your credit files if your identity is stolen
Financial monitoring
- Tracks applications for checking and savings accounts in your name
- Monitors activity on your investment accounts and 401(k)
- Analyzes changes in your property titles
- Checks for takeovers on your bank accounts
Plenty of feedback from LifeLock members is available to view online—unsurprising given the company’s many years of operation—with the bulk of comments being positive. Customers talk about the speedy alerts they receive and the added sense of security they get from their membership. They also appreciate getting updates on their credit profiles, and some have described how efficient the identity recovery process is.
There are a few negative reviews about the quality of customer service. Overall, though, in consumers’ eyes, LifeLock seems to be performing well.
LifeLock offers annual and monthly packages. Annual plans have a 60-day money-back guarantee. Memberships consist of standalone identity theft protection or a combination of this service with Norton 360 device security and VPN software. LifeLock’s options cover individuals and families; you can include children and spouses at an additional cost.
Rates are as follows:
| Plans | Select | Advantage | Ultimate Plus |
|---|---|---|---|
| Annual | $7.50/month | $14.99/month | $19.99/month |
| Monthly | $8.99/month | $17.99/month | $23.99/month |
| Premium Plans | Select with Norton 360 | Advantage with Norton 360 | Ultimate Plus with Nortgon 360 |
| Annual | $8.29/month | $15.99/month | $24.99/month |
| Monthly | $9.99/month | $19.99/month | $29.99/month |
| Stolen Funds Reimbursement | Up to $25,000 | Up to $100,000 | Up to $1 million |
| Lawyer’s and Expert’s assistance | Up to $1 million | Up to $1 million | Up to $1 million |
*All rates listed here were accurate at the time of writing and are for one adult only. For the most up-to-date rates and more details on family packages and options, please refer to the LifeLock website.
LifeLock Unique Features
LifeLock distinguishes itself from similar service providers by offering extra features that simplify the process for the consumer. These include:
Identity Lock
This allows you to instantly lock your credit file with the bureau Transunion or lock a payday loan, preventing unauthorized account openings. It doesn’t affect your credit score, and lenders can still run checks on your credit if needed.
Million Dollar Protection Package
Available on all plans, this package provides financial assistance in the event of identity theft. Protection can range from $25,000 to $1 million and covers stolen funds reimbursement, personal expense compensation, and the services of specialist lawyers and experts.
LifeLock Identity App
This app allows you to receive instant alerts of suspicious activities on your profile. This means you can respond immediately, and the LifeLock team can act promptly on serious threats.
Who LifeLock Is Best For
Customers who use antivirus protection
If you’re already considering adding a VPN and/or antivirus protection to your devices, then LifeLock could be a good fit for you. Its relationship with Norton allows you to pay just one fee for combined identity protection and cybersecurity services.
Customers who aren’t quite sure
LifeLock offers a 60-day money-back guarantee on all their annual packages. So if you’re not happy with the service, you can reclaim your payment and move on.
Customers with busy lives
If you need to take back the time involved in safeguarding your profile, then LifeLock would benefit you. It performs complex monitoring and detection functions that most of us can’t fit into our day. These include scanning the dark web and monitoring court records, sex offender registries, and social media to track your social security number, credit profile, and financial accounts.
Customers on the move
LifeLock’s Identity app provides you with on-the-go updates and fraud alerts. This means a quicker response time to threats and gives you a better chance of avoiding financial losses altogether.
LifeLock vs. Other Identity Theft Protection Competitors
If you’re comparing service providers to find the most effective, cost-efficient, and reputable option, then consider the table below. We’ve compared LifeLock with two competing firms to see how they fare against each other.
| Brand Name | Identity Guard | LifeLock | ReliaShield |
|---|---|---|---|
| Best For | Fast Alerts | Features | Family Plans |
| Monthly Cost for Individual Plans (billed annually) | $7.50 – $25 | $8.29 – $24.99 | $7.99 – $21.99 |
| Monthly Cost for Family Plans (billed annually) | $12.50 – $33.33 | $20.99 – $40.99 | $14.99 – $34.99 |
| Features | Credit/Debit monitoring, 401(k) and investment monitoring, sex offender monitoring, USPS address change monitoring, home title monitoring, and more. | Credit/Debit monitoring,ID verification monitoring, 401(k) and investment monitoring, USPS address change monitoring, home title monitoring, and more. | Personal information and dark web monitoring, neighborhood predator monitoring, non-credit loan monitoring, new bank account application notifications, bank account takeover notifications, court records monitoring, and more. |
| 3-Bureau Credit Monitoring | Yes, on the Ultra Plan | Yes, on the Ultimate Plus plan | Yes, on the Elite plan |
| Restoration Services Available | Yes, with a personal case manager | Yes, with US-based agents | Yes, with customer service and recovery assistance |
| Insurance (Stolen Funds Reimbursement) | $1 million (subject to terms and conditions) | $25K – $1 million depending on plan | $1 million on all plans |
| TrustPilot Rating | 4.4 out of 5 stars | 1.4 out of 5 stars | Not reviewed on TrustPilot |
What To Know About Identity Theft Protection
Given the increase in identity theft, it’s wise to do everything possible to safeguard yourself and your family’s personal, financial, and credit information. The cost of outsourcing this protection is nothing compared to the financial losses you could suffer if your identity were stolen. Bear in mind that having a reliable identity theft protection firm monitor your profile can be very affordable. It may also give you the option of insurance coverage should the worst happen, plus identity restoration services if it does.
Affordability
Many companies provide affordable services or offer plans with basic coverage that you can hopefully fit into your budget. Your monthly payment could be as little as $10.
Insurance
If you become a victim of identity theft, you’ll need to be able to pay your bills and put food on the table while resolving the problem. You might also require money to pay attorneys or financial experts. For this, you should select a company that offers insurance for stolen funds reimbursement and coverage for expert services. Most firms in the industry provide these policies as part of their packages.
Restoration
Being truly prepared for the worst means having access to identity restoration services, so if you do fall prey to identity theft, you’ll have the necessary support and assistance to use your accounts safely again. Most identity theft protection providers offer recovery services, too, often supplying dedicated agents to help you with the process from start to finish.
The Bottom Line
We’ve given you a lot of information on LifeLock’s services. In short, it’s a reputable firm with a long track record of success, offering a wide range of plans for families and individuals. With LifeLock, you can get the extensive coverage and protection you need for your personal profile.
Here’s a recap of the company’s key pros and cons:
- Identity and social security number tracking
- Complete credit profile monitoring
- Full inspection of financial records
- Can lock credit files without affecting your credit score
- Dedicated US-based restoration specialists help with identity recovery
- Supplies secure VPN and antivirus for multiple devices
- Convenient app for instant fraud alerts
- Theft insurance on all plans
- 60-day money-back guarantee on annual packages
- 3-bureau credit monitoring only available on the Ultimate Plus plan
- Children and spouses incur additional charges
- Some poor customer service ratings
While we’ve provided a detailed overview of LifeLock, it’s important that you shop around to compare different service providers. If you’re unsure of any information disclosed on companies’ websites, reach out directly to them. They may be able to ease your concerns and help you decide if they’re the right fit for you.
