These days even major retailers are being hit by security flaws and hackers on the net. Heartbleed, for example is a popular security bug, exposed in April 2014. Identity theft is becoming a major threat for small and big business operations. As a result, there are many identity theft protection service providers on the rise.
But are they worth it? How do they work?
Do these services actually protect you?
The truth is that identity protection services may not actually save your identity from being stolen. In other words, they are not designed to take actions or preemptive measures to safeguard your identity. Then how do they work? Here’s the explanation.
They constantly supervise your credit report
There are three main reasons why identity thieves target your personal information.
- To illegally make use of your credit card
- To take a loan using your identity or
- To open a new credit card
Identity theft services will ensure that any possible change in your account is clearly indicated in your credit report. These protective services will alert you immediately if they identify any suspicious activity, so you can take action instantly.
They can help you monitor your financials regularly
By supervising your credit report, identity protection services can alert you on unusual activities. However, it’s not always easy to catch fraudulent activities by only monitoring your credit report. Hence, many identity protection services offer to monitor some of your other financial activities including bank accounts and card purchases. They also search for credit or loan applications being taken in your name.
They also monitor personal information for you
Supervising your financial activities is great to start with, but the most reliable identity theft protection services must also supervise your personal information like your social security number. This is to ensure that your social security number is not being used without your consent. Remember, a good identity theft service provider will offer to supervise as many things as possible for you. Some even supervise medical records, public records and the unauthorized use of your driver’s license or an address change.
They offer a security software for your personal computer
As a decent identity theft security provider, companies must guard you against hacking (a common method used by identity thieves for robbing your personal information). These security providers give you a security software to safeguard your personal computer against hacking. The security software may feature encrypted logins for safe banking and anti-keylogging applications.
Which identity theft protection services are good for you?
The above information would give you some indication on how to choose the best identity theft protection company. As a matter of fact, most reliable service providers offer basic monitoring services including the ones mentioned above – credit report monitoring, financial monitoring, monitoring of public records and social security numbers. Some companies even go beyond to protect you from being a victim of hackers.
On that note, here are some recommendations for you to choose the most appropriate identity theft protection companies, based on your requirement.
#1. Credit Sesame – Known for its cost-free services
If you are one of those who is reluctant to reveal your credit card details, then Credit Sesame should be your best identity theft protector. In the world of identity theft protection, it is very unusual for a service provider to offer 100% free protection services; Credit Sesame does just that for you. Credit Sesame updates credit scores on a monthly basis and the changes are evident and transparent to the user. It also actively checks for suspicious activities.
Although Credit Sesame does not offer everything that other premium identity theft protectors do, it still is the best pick for someone looking for a simple and free identity theft protector.
#2. IdentityForce – the best pick for families and home
IdentityForce is your pick if you are looking for a comprehensive and affordable identity theft program for your home and family. It has an add-on Child Watch feature and comes with a monthly fee of $18. A good deal for someone with big households, this service provider checks your financial information, financial accounts and social security number. There is a 14-day trial period and you can test the service before you commit.
#3. LifeLock – the best Value for money
For those who are keen on building your credit scores and tracking your progress, LifeLock is your best pick. LifeLock is one of the few services that enable monthly updates of your credit score. Apart from its basic ID theft protection services, LifeLock monitors a variety of other information including unauthorized change of addresses and driver’s license.
The service will also automatically unsubscribe users from all junk e-mails. Users also get a thirty-day trial offer so they can opt out any time if they don’t like its services.
#4. Identity Guard – known for its ‘lost wallet protection’
Identity Guard is another great alternative if you want your personal information and name monitored against all kinds of identity theft. The highlight of this service is its exclusive ‘lost wallet protection’. This is extremely beneficial for regular travellers or people who are ‘on the move’ all the time. Identity Guard also offers $1 million insurance coverage against loss and fraudulent activities. Customers also get a security suite that can be installed in personal computers as well as mobile devices.
Thanks to its all-round protection capabilities, Identity Guard has an excellent customer satisfaction record and a good company reputation.
#5. Identity Fraud – Another comprehensive ID theft monitoring service
Identity Fraud is known for its comprehensive supervision of personal and financial information. Recently, the company celebrated its 10 years of dedicated business presence in the ID protection industry. Identity Fraud is known for its ease of use and customer-friendly services. It provides a variety of services including IF Cyber Monitor, ID insurance coverage of up to $ 1 million, alerts on non-credit loans, criminal and court records monitoring, software for keystroke encryption and 24/7 fraud prevention assistance and resolution.
One thing great about Identity Fraud is that it offers most of its exclusive services in the basic package itself. As you move on to its premium packages, you get enhanced versions of the same services.
Hope this article about ‘identity theft protection’ is informative. “It is better to be safe than sorry” they say. Get your identity theft protection service today and be safe about your identity. All the Best!!
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