When you get a notification that your identity was compromised in a data breach, you might spiral at the thought of someone taking your identity and credit score on a joy ride. But things aren’t as hopeless as they might seem.
Identity theft protection services like LifeLock exist for this exact purpose and it doesn’t leave you in the lurch should your identity be stolen or compromised. Between LifeLock and various public tools, you have everything you need to secure your identity and get your life back in order if your identity has been compromised. Here’s how it works:
Confirm if your identity has been compromised
Some data breach alerts are scammers in disguise. So even if you have been informed of a data breach, you’ll want to confirm whether your information has actually been compromised before you make drastic changes to your online security or click on any possible phishing links.
If the breach comes from a reputable news source or a data breach monitoring tool, or if you notice anomalies in your bank statements or credit report, then your data has been compromised. And if your information is leaked, sold, or stolen, LifeLock can help.
Report identity theft
Whether you get an alert from one of LifeLock’s identity theft monitoring services, your bank account, or your credit card company, the first thing you need to do is notify your bank. This will allow your bank to lock down any checking, savings, and investment accounts so any pending or future transactions are frozen. This keeps your assets out of the scammer’s hands.
Then you need to report the theft to the FTC (Federal Trade Commission) at IdentityTheft.gov.
Once your bank (or banks, if you have multiple) and the FTC have been notified of the breach, your next step is to contact your identity protection service. Your bank may have its own identity theft insurance, and you’ll also want to reach out to any additional subscriptions you may have, such as LifeLock.
Once you file a claim with LifeLock, it will secure your accounts and monitor your credit score for any suspicious activity. You can also file a claim with your local police department, contact the IRS, and alert your insurance and healthcare providers.
Identity recovery
Once you’ve filed a claim with your LifeLock, you’ll begin the process of identity recovery.
LifeLock comes with 24/7 phone support that will connect you to a U.S.-based specialist who will work your case from beginning to end to restore your identity. LifeLock operates under a 100% restoration guarantee or your money back for the current term.
Insurance and reimbursement
While recovering your identity is the key resolution in a data breach, there are a few other things to consider, such as identity theft insurance and scam reimbursement.
LifeLock offers high aggregate limits (up to $3 million per member on the Total plan), which can cover stolen funds, personal expenses, and fees for lawyers and experts required in resolving your identity theft case.
Should the theft or data breach be caused by a scam, LifeLock also offers scam support and scam reimbursement on eligible scams (up to $10,000 with the Total plan). This can cover situations banks typically do not cover with their internal scam protection programs.
What does it cost?
If you don’t already have identity theft and data breach protection from LifeLock, you may be wondering what the plans will set you back. While you might expect a high premium considering all the services encompassed in LifeLock plans, identity protection is actually pretty cheap for a brand considered the leader in identity theft protection.
LifeLock's Core plan costs $12.49 monthly or $124.99 annually (only $10.49 a month). That’s not a lot to pay to ensure peace of mind, secure your identity, monitor for data breaches, and recover your identity in case of theft.
