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Identity Theft Protection, Reviews

Review: LifeLock Identity Theft Protection

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.

Pickpocketing at the subway station

LifeLock is one of the better-known identity theft protection companies out there, serving over 4 million customers. CEO Todd Davis is infamously known for advertising his Social Security number to the public, claiming that LifeLock would protect him, and then subsequently having his identity stolen 13 times.

With identity theft and the number of companies offering protection services on the rise, it’s natural to look into possible solutions. Having your identity stolen is not a simple matter and can be a harrowing process to go through. Although no company (or person) can completely prevent identity theft from happening, it’s worthwhile to look into the preventative measures you can take.

LifeLock has been around since 2005 and focuses primarily on protecting consumers against identity theft and fraud. Let’s take a look at what it offers.

Overview of LifeLock’s Identity Theft Protection

LifeLock is built upon three layers: detect, alert, and restore.

According to its website, LifeLock monitors over one trillion data points every day using its own technology to ensure your personal information isn’t being used by someone else. Depending on the plan you enroll in, LifeLock can also monitor your other financial accounts.

If LifeLock detects any suspicious activity, you’ll receive an alert via email, text, or phone asking whether or not you’ve taken a certain action with your information or accounts. In the event you did not take that action, Lifelock has a U.S. based support system that works around the clock to assist you in preventing fraud.

Should your identity or accounts get compromised, LifeLock representatives will work with you to restore your identity. You’re protected under a $1 million “total service guarantee” which means you won’t incur out-of-pocket expenses (such as hiring a lawyer, going to court, lost wages, or replacing documents) during the restoration process.

To expand on that, here’s a list of benefits LifeLock offers under the service guarantee. It largely serves to cover costs incurred as a direct result of identity theft. Contrary to what most people believe, the purpose of this guarantee isn’t to cover stolen funds if a thief uses your accounts or credit cards to make purchases.

LifeLock states it’s willing to pay $1 million toward the cost of getting your identity restored by hiring professionals, but that the $1 million total service guarantee is not considered insurance. If you look at the benefits offered, the only mention of covering stolen funds is the coverage of “Fraudulent Withdrawals.” LifeLock will cover up to $10,000 – $25,000 (depending on the level of service you choose) of “fraudulent withdrawals resulting from any one Stolen Identity Event.” That’s very different from purchasing a $1 million insurance policy in the event $1 million worth of funds are stolen from you.

Here are some of the services LifeLock offers:

  • Lost wallet protection: If your wallet is lost or stolen, LifeLock will help you cancel or replace credit cards and any form of identification you had on you.
  • Address change alerts: If a change of address request is made in your name, you’ll be notified.
  • Decrease in pre-approved credit card offers: LifeLock will get your name taken off the mailing lists for pre-approved credit cards.
  • Identity restoration: Representatives are available at any time should your identity be stolen.
  • Court records scanning: This ensures your identity isn’t associated with any crimes you didn’t commit.
  • Monitoring financial accounts: LifeLock can monitor your credit card, checking, savings, investment, and retirement accounts for suspicious activity.

As you might notice, many of these services are offered for free – you can do them yourself, or your credit card or bank will help you resolve any issues should they arise.

For example, LifeLock offers to send you credit reports from the three major bureaus, which you can obtain for free at

The main thing to focus on is the identity restoration service, as that’s what you’ll be paying for if your information is compromised.

How it Works

Signing up for service through LifeLock takes a few minutes via the website. You’ll need your Social Security number, credit card information, and personal information to register. Keep in mind that when you register, LifeLock will only be monitoring your information. Your spouse and children aren’t included – separate plans must be purchased for each individual.

LifeLock sends alerts via email, text, and phone. Email and text are likely to be the quickest, as phone alerts only occur during normal business hours. Besides, if you don’t normally answer calls from numbers you don’t recognize, an alert may go missed.

Once you receive an alert, you can respond to it via email, text, or your online account, and view the full report associated with it. If action needs to be taken, you can contact a representative immediately.

[Worth It Or Not? Identity Theft Protection Reviewed]

How Much Does it Cost?

There are three types of plans offered:

  • Standard: $9.99 per month, or $109.89 annually ($9.16 per month). This includes the alert system, lost wallet protection, address change verification, receiving less pre-approved credit card offers, dark web surveillance, 24/7/365 access to support, and a $1 million total service guarantee.
  • Advantage: $19.99 per month, or $219.89 annually ($18.32 per month). This comes with everything the Standard plan has, plus fictitious identity monitoring, court records scanning, data breach notifications, credit card, checking, and savings account activity alerts, and an online credit report from one bureau.
  • Ultimate Plus: $29.99 per month, or $329.89 annually ($27.49 per month). In addition to the above, the Ultimate Plus plan gives you access to your credit report from all three bureaus, investment account activity alerts, alerts when someone applies for a checking or savings account in your name, a bank account takeover alert, credit inquiry activity, sex offender registry reports, and more.

It’s worth noting that LifeLock doesn’t provide alerts for all transactions, and it can change which types of transactions it monitors at any time. That’s why we recommend signing up for alerts via your bank and credit card accounts.

For credit activity, you can sign up with Credit Karma or Credit Sesame for free. Either company will provide you with alerts when a new inquiry is made.

Transparency Levels

LifeLock has not been known for its transparency over the years. In fact, the FTC took legal action against LifeLock in 2010, and is investigating the company again at the time of writing. The FTC claims that LifeLock has violated its 2010 order to tighten its security by:

1) failing to establish and maintain a comprehensive information security program to protect its users’ sensitive personal data, including credit card, social security, and bank account numbers; 2) falsely advertising that it protected consumers’ sensitive data with the same high-level safeguards as financial institutions; and 3) failing to meet the 2010 order’s recordkeeping requirements.

On its FAQ page, LifeLock only addresses this by stating:

LifeLock maintains a standards-based information security program that is designed to provide a high level of protection of member data. The security program includes the use of industry-standard encryption, active monitoring and response to potential attacks, pro-active assessments to discover and remediate potential system vulnerabilities and physical security mechanisms.

LifeLock is compliant as a Level 1 merchant under the PCI-DSS (Payment Card Industry Data Security Standard). PCI-DSS is a set of requirements that help protect cardholder data and is the accepted standard for all organizations that process credit card information.

However, LifeLock isn’t just an organization that processes credit card information. It handles extremely sensitive information, as it will be monitoring your financial accounts, and you’ll also be required to give your Social Security number over.

You can visit the website here to review all legal documents associated with LifeLock.

Other Alternatives

LifeLock is arguably a bit expensive for what it offers. Again, you’re mainly paying for the identity restoration service when enrolling in an identity theft protection program. You’re capable of setting up alerts on your other accounts and viewing your credit reports for free.

Zander is a great alternative because it’s slightly cheaper at $6.75 per month (or $75 annually). Family plans are $12.90 per month (or $145 annually), which aren’t offered with LifeLock. It’s a mostly no-frills identity protection service that comes with the basics. Alerts are only provided through email, and credit monitoring isn’t offered.

[Read our full Zander review here]

Prosper Daily (formerly BillGuard) is good solution if you’re looking for an app that does it all. In addition to monitoring your accounts and coming with identity restoration services, you can also track your spending. A basic account is free, a “Pro” account is $5 per month (or $35.88 annually), and the “Ultimate” account is $10 per month (or $83.88 annually).


LifeLock is one of the more expensive options out there, and with the ongoing investigation with the FTC and the lack of transparency offered by the company in the past, it’s not our top recommendation. You’re much better off choosing a less expensive identity theft protection service like Zander, while signing up for free alerts where you can.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Erin Millard
Erin Millard |

Erin Millard is a writer at MagnifyMoney. You can email Erin at [email protected]


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Identity Theft Protection

What to Do If You Think Your Mortgage Data Was Breached

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.


This week, the online technology publication TechCrunch reported that millions of pages of mortgage loan documents were leaked online. More than a decade’s worth of data may have been affected, giving identity thieves access to financially sensitive documentation about every aspect of a consumer’s income, credit and assets.

The incident makes clear one potential downside of the industry’s inexorable move online. Mortgage companies have been scrambling to keep up with consumer demand for a fully digital mortgage experience. The convenience of allowing lenders access to bank records, employment and income history, and credit information electronically may save time and stress in the mortgage approval process.

However, one of the downsides to all of this digital simplicity is the risk a cybersecurity breach could give a hacker access to all of your financial data in one place.

Knowing what to do and what not to do are essential in preventing identity thieves from using any of your personal information to obtain new credit. You also need to know how to spot scammers that will try to take advantage of consumer fear and confusion to promote bogus services.

The first thing to do if your data was compromised

Beware of incoming phone calls

Do not provide any sensitive information over the phone to anyone who calls regarding your credit card or loan accounts, or anything having to do with your bank. Insist on getting a call back number and call them back — if they aren’t for real, they will probably hang up as soon as you ask for their contact information.

The FTC suggests you “don’t believe your caller ID.” Sophisticated scammers can create a “spoof” phone number that shows up on your caller ID in the name of your bank or credit card company, but is really a con artist trying to take advantage of you.

Do not open emails or answer texts from anyone claiming to be related to the recent data breach. If you receive such electronic communication, contact the creditor or bank immediately and ask for their security department to confirm if the correspondence is legitimate.

The IRS will not call you to confirm your personal information. The IRS recommends that companies experiencing a data breach send you a letter explaining what happened, what you can do to safeguard your credit and identity and how to follow up with them.

Any conversations that you have with creditors or banks should be initiated by you, using contact information you have on credit card and bank statements that you already have on file.

How to protect your accounts

Change your passwords on any account that has online access

There is information suggesting the most recent mortgage data breach may have included public access to passwords and user IDs for a variety of different financial accounts. Change your user ID and passwords to your online bank accounts and any credit accounts that you access online.

Track your bank and credit card balances, and notify your bank or credit card company immediately if you see any unusual charges or withdrawals.

Subscribe to a credit monitoring service

Your bank or an online credit monitoring service will provide up-to-date information about any new inquiries made. If you see unusual activity, then you may want to follow one of the steps below to activate a credit freeze with all of the credit bureaus so no new credit can be opened without direct contact with you.

What to do if you see signs of identity theft

If you have evidence that new credit accounts are being opened, or if someone has accessed your bank account, there are several steps you need to take to notify authorities and fraud departments at your bank and creditors.

Call your bank first, brokerage accounts second

You need to make sure that your assets are not liquidated, so contact your bank immediately. Most banks have fraud protection measures in place to replace any stolen money quickly. The sooner you contact the bank, preferably in person, the quicker a report can be filed, your old account can be closed and a new one is opened.

Brokerage accounts don’t have the same identity-theft protections that bank accounts do. If you have mutual funds, IRAs or 401ks, you should contact the brokerage. If you do see any suspicious activity, you’ll also want to contact the Securities and Exchange Commission.

Contact your creditors next

Credit card companies have fraud and identity-theft departments. This information is often on the back of your credit cards so contact them immediately to let them know your information has been used without your authorization. They may need you to fill out police reports, and provide additional follow-up as the fraud department investigates your claim.

Make sure you contact the IRS

It may not be top of mind, but come tax time, you may get an unpleasant surprise if you learn someone filed a tax return on your behalf. This happened during the 2017 Equifax breach — because returns are filed electronically now, it’s much easier for an identity thief to try to get a tax refund using your identification information.

Consider putting a fraud alert on your credit

The Federal Trade Commission recommends putting a credit freeze on your credit if you suspect or are in the process of an investigation into identity theft of your personal information. You will need to validate any new credit requests that you make and some lenders, especially mortgage companies, will need you to release the freeze if you try to apply for a home loan in the future.

If you haven’t actually experienced any fraud but have been notified by a company that you did business with that they experienced a breach of data, then you might want to start with a fraud alert. Unlike a credit freeze, a fraud alert allows your credit information to be accessed, but it lets any creditors know that you suspect or are concerned that your information may have been compromised.

Put everything in writing

You’ll want to have a date-stamped written record of all communications, in case you up needing to take legal action to recover your losses. Police and federal investigators may need this correspondence to pursue investigations against identity-theft criminals.

The FTC also has an identity-theft affidavit that can be completed and provided to law enforcement.

Watch out for signs of breach scams

Impostor scammers

Impostor scammers will try to play on fear and confusion by creating schemes to defraud you out of money for extra security services or even lawsuits representing your interests and promising large payouts if you’ll just join their list. They may call, email, send letters or even knock on your door claiming to be law enforcement or an agent of a federal agency.

If anyone tries to charge you an upfront fee of any kind to protect you from further breaches, or to include you in any kind of legal action, hang up the phone and contact the authorities. Given the size of this mortgage breach, you’ll want to sign up for the Federal Trade Commission’s scam alert service to find out if there is a pattern of new scams related to this leak.

Bogus mortgage servicing transfer letters or phone calls

Because data was accessed from companies that service mortgage loans, hackers may send you notices of a transfer of servicing and tell you to make your payments to a new mortgage company or location. Use your recent mortgage statement to contact your current mortgage company if you get any notices.

Also, be sure to file a complaint and provide a copy of the email or mail correspondence to the authorities if they request it.

Be prepared to monitor your credit and assets frequently

The FTC provides excellent resources regarding what to do if you are a victim of identity theft.

Identity thieves may wait a while to use your data. The info you provided to get your mortgage provides a great deal of detail about your financial profile, which means a scammer can impersonate you for many types of online credit and financial transactions.

By giving notice to your creditors, banks and the IRS, they will at least be on notice to watch for activity. Their correspondence should be in writing and provide you with verifiable contact numbers for any information requests.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Denny Ceizyk
Denny Ceizyk |

Denny Ceizyk is a writer at MagnifyMoney. You can email Denny here


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Identity Theft Protection

How to Freeze a Credit Report After Someone Dies

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication.


Dealing with the death of a loved one is never easy. While loss is a natural part of life and we may expect it, death often overwhelms us with shock, depression and confusion. Sadly, when you’re in this vulnerable state, there are identity thieves looking to prey on your dulled awareness. They do so by stealing the identity of the deceased and fraudulently opening credit card accounts, applying for loans and obtaining service contracts.

This concept, called “ghosting,” is a widespread problem. There hasn’t been a lot of research on the issue, but one study estimates that, the identities of approximately 2.5 million deceased Americans are used fraudulently each year. Of those, almost 800,000 are deliberately targeted cases.

Why it’s important to freeze someone’s credit after they die

Many identity thieves are practiced in using the dead’s information for their own financial gain. Coping with the loss of a family member is difficult, but it can be exacerbated by dealing with the fallout of identity fraud.

Criminals who deliberately target the departed know that it takes time for financial organizations and credit reporting agencies to process death notices and update their records, leaving open a window of opportunity for fraud.

With the recent Equifax breach, people may be more aware of their credit situation than in the past. However, a survey taken shortly after the Equifax breach by (which, like MagnifyMoney, is a subsidiary of LendingTree) shows that approximately 78 percent of people did not freeze their credit after the breach. People are largely aware of the negative impact that identity theft can have, but a large portion of the American population neglects to take the next steps necessary to protect themselves.

Luckily, the steps to take to protect your loved one’s identity are clear and relatively simple to follow.

How to report a death to the credit bureaus

The Social Security Administration (SSA) states that, in most cases, the funeral director will notify the administration of a person’s death. To ensure this, you must give the deceased’s Social Security number to the funeral director. From there, credit reporting agencies and lenders will be informed of the person’s passing, and they’ll automatically put a death notice or alert on their credit.

To expedite the process, it is suggested that loved ones who are close to the deceased (typically a spouse or child) take matters into their own hands to get a death notice placed on their departed family member’s credit reports at the three major credit bureaus — Equifax, Experian and TransUnion. This will involve submitting a death certificate, and the Identity Theft Resource center recommends requesting 12 copies of the certificate for such purposes (some institutions may require an original, rather than a photocopy).

Carrie Kerskie, an identity theft expert and director of the Identity Fraud Institute at Hodges University says you should contact the credit bureaus, but knowing the right verbiage is key. “Instead of requesting a freeze, one would request a death alert,” she said. “It is similar to a freeze, except a freeze could be lifted with a PIN. A death alert cannot.”

The easiest way to update that person’s credit account is to have a relative or executor send letters to each of the three credit national reporting agencies, according to Equifax.

The writer should include the following information about the deceased in their letter:

  • Legal name
  • Social Security number
  • Date of birth
  • Date of death
  • Copy of death certificate or letters testamentary

They’ll also want to include:

  • The letter-writer or executor’s full name
  • Their address for sending final confirmation
  • Proof you’re the executor, if applicable

David Blumberg, director of public relations for TransUnion, added, “Our industry policy is that the receiving credit reporting company will notify the other two so they can update their records as well.”

Still, to be safe, mail this information to each of the three credit reporting agencies. Their mailing addresses are:

P.O. Box 2000
Chester, PA 19016

P.O. Box 2002
Allen, TX 75013

P.O. Box 105139
Atlanta, GA 30348-5139

Kerskie advises that people going through this process prepare to provide proof of relationship along with the death certificate they’re submitting. “This could be a marriage license or court papers,” she said.

What’s the fastest option?

When speed is of the essence in beating potential fraudsters, mailing is certainly not your fastest option. Experian offers a solution: Submit the death certificate and death notice request online by uploading the documents directly to its system. Once it receives the information, Experian will add the deceased indicator and permanently remove the person’s name from any future mailing lists for preapproved offers.

Equifax also offers two speedier options – email a copy of the death certificate to [email protected] or fax your records to (888) 826-0727. It should be noted that email isn’t a secure way to submit this personal information (especially in light of the fact that you’re working to prevent identity theft).

While TransUnion doesn’t have a streamlined online tool or fax offering, they do advise family members or executors to call (800) 680-7289 for more assistance. If you need any help requesting that a death alert be placed on a deceased’s account, your first action should be to contact the bureaus directly.

Other things to do besides reporting the death

Although going through the process of contacting credit reporting agencies may seem like a hassle, your to-do list doesn’t end here. In addition to notifying the credit bureaus of the death, you should also request a copy of the person’s credit report. The Identity Theft Resource Center provides a form you can use to request the reports.This will help you to better understand what accounts are open, and it can help you spot suspicious activity. Should you face the worst-case scenario and your loved one’s identity is stolen, this will also help you to prove what charges the thieves have incurred.

Additionally, while it’s common for funeral directors to assist you in reporting a loved one’s death to the Social Security Administration, it behooves you to ensure this has been done. The easiest way to contact the SSA is online, but you can also call them toll-free at 1-800-772-1213 or at their TTY number, 1-800-325-0778.

Other items for your list:

  • Be proactive and let the deceased’s various financial institutions and account holders know about their death. Reach out to banks, insurers, brokerages, lenders, mortgage companies and credit card companies by mailing them copies of the death certificate. Kerskie recommends sending these things by certified mail and request a return receipt to ensure the safety of the personal information you’re sending.
  • Limit the amount of personal information that’s released to the public. Identity thieves often gain access through obituaries that list dates of birth, death, full legal names and addresses.
  • Consider changing the deceased’s address to forward to a loved one’s home or an executor’s place of business. Identity thieves sometimes steal personal information out of a deceased person’s mail box.
  • Don’t forget to file the deceased’s final tax return.

How to resolve identity theft of a deceased person

Resolving identity theft of a deceased person follows many of the same steps you would proactively take to prevent it: Request a copy of the credit reports from the three major credit bureaus, request a death notice on that person’s credit and notify creditors of the person’s death. If fraud has occurred, there’s an extra step: The Identity Theft Resource Center advises you to contact the police in the jurisdiction of the deceased with evidence of fraud. This might be a collection notice you’ve received on the deceased’s behalf, or a credit report showing fraudulent activity.

It’s important to remember that you should not be held accountable for fraudulent debt that’s racked up in the name of your deceased relative. While this may not provide any emotional consolation as you’re going through this process, it should help to relieve some of the money-related stress you’re experiencing.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Dave Grant
Dave Grant |

Dave Grant is a writer at MagnifyMoney. You can email Dave at [email protected]