What You Should Know Before Subscribing To An Identity Theft Protection Company
Below is a MRR and PLR article in category Finance -> subcategory Wealth Building.
What You Should Know Before Subscribing to an Identity Theft Protection Company
Summary
Considering subscribing to an identity theft protection service? Given the rising incidence of identity theft, it’s a wise move to safeguard yourself. Here’s what you need to know before choosing an identity theft protection company.
Services Offered by Identity Theft Protection Companies
Identity theft protection companies typically provide the following services:
1. Monitoring of Your Information: These companies track your credit report, police records, and medical records. They notify you when your credit card is used or if your Social Security number appears on any application. If an unauthorized transaction occurs, the company will investigate and locate the source. They also monitor unknown addresses linked to your name and check your state’s DMV records.
2. Suspicious Activity Alerts: If suspicious activity is detected, your account can be frozen until you verify your authorization. If unauthorized, the account remains frozen, and authorities are alerted. This proactive approach can prevent you from discovering issues only when contacted by collection agencies or denied credit due to a damaged credit score.
3. Credit Repair Assistance: If identity thieves succeed in using your information, the company assists you in working with law enforcement and helps stop collection agencies from pursuing debts you don't owe.
Types of Plans Offered
- Basic Plans: These include credit report tracking and alerts for suspicious transactions. You’ll receive notifications for new accounts or inquiries on your report. Many lenders offer similar basic monitoring for free.
- Detailed Plans: These plans offer monthly reports and counseling services, as opposed to annual reports. Some companies cover out-of-pocket expenses if you fall victim to identity theft. Detailed plans typically cost around $100 per individual or $150 per household annually.
- Comprehensive Plans: These cover all costs incurred through identity theft, understandably at a higher price point.
Top Identity Theft Protection Companies
Some leading companies include LifeLock Identity Theft Protection and Equifax Credit Monitoring Service. LifeLock, for instance, offers a $1 million Identity Theft Protection Service Guarantee.
Additional Precautions
While subscribing to a service is a key step, there are other protective measures you can take. Be vigilant in all transactions and safeguard your personal information. Taking extra precautions will only strengthen your defense against identity theft.
By choosing an identity theft protection company and remaining cautious, you can greatly reduce your risk of falling victim to identity theft.
You can find the original non-AI version of this article here: What You Should Know Before Subscribing To An Identity Theft Protection Company.
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