LifeLock offers a range of identity theft protection plans, each with varying levels of coverage and cost. This review explores the features, pricing, and overall value of LifeLock to help you determine if it’s the right choice for your needs.
LifeLock Plans and Pricing
LifeLock offers three main tiers of protection, each providing different levels of monitoring and reimbursement:
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LifeLock Standard: This entry-level plan includes monitoring the use of your Social Security number, name, birth date, or address in applications. It offers credit monitoring from one of the three major credit bureaus, dark web monitoring for your data, and verification of address changes. It also provides up to $25,000 in reimbursement for stolen funds or personal expenses due to identity theft.
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Pricing:
- Individual: $11.99 per month
- Family (two adults): $23.99 per month
- Family (two adults, five children): $35.99 per month
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You can save more than 30% by paying for a full year upfront.
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LifeLock Advantage: This mid-tier plan offers increased stolen funds and personal expense reimbursement, up to $100,000, but continues to monitor credit from only one bureau. The advantage plan offers the same features as the standard plan plus a few additions.
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Pricing: $22.99 per month
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Annual Price: $179.88 (paid upfront) – 34% savings in comparison to month-to-month
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LifeLock Ultimate Plus: The most comprehensive plan, Ultimate Plus, includes credit monitoring from all three major credit bureaus, along with investment activity monitoring. It bumps up stolen money and personal expense reimbursements to $1 million each. Additional features include phone takeover and social media monitoring, alerts for crimes in your name, and home title monitoring.
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Pricing:
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Two adults: $41.99 per month.
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The annual cost is $34.99 a month for the first year if you pay for the year upfront.
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Two adults and five children: $79.99 per month with a discount available for an upfront yearly payment
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Is LifeLock Worth the Price?
LifeLock may be a worthwhile investment if you:
- Are unwilling to freeze your credit.
- Need assistance resolving an instance of identity theft or have other security concerns.
- Have more money than time to monitor your accounts for potential signs of identity theft.
Consider both the advantages and disadvantages of LifeLock:
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Pros:
- LifeLock provides comprehensive monitoring and alerts, beneficial if you’re unable to monitor your own credit and accounts proactively.
- It searches the dark web for your personal data, allowing you to take proactive steps, such as changing passwords, to mitigate risks.
- It can be particularly helpful if you’ve previously been a victim of identity theft.
- Bundling virus protection with identity theft monitoring can be cost-effective and convenient, as the systems are designed to work together.
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Cons:
- LifeLock is more expensive when compared to some other identity-protection services, with costs increasing when adding additional adults or children.
- The service auto-renews, which may be a convenience or a potential drawback.
Alternatives and Considerations
If you’re on a tighter budget, free identity theft prevention services can help reduce your risk. Your workplace benefits or experiences with data breaches may also offer you the identity theft protection services you need.
It is important to remember that LifeLock services, and those of similar providers, aim to detect identity theft problems and aid recovery, but they cannot prevent identity theft. The NortonLifeLock website clarifies this and adds that LifeLock doesn’t monitor all kinds of transactions at all businesses.
You have free control over your identity protection. Many of LifeLock’s features can be performed on your own for free such as:
- Regularly checking your credit accounts and financial statements, also setting up account activity alerts to help you catch any suspicious activity right away.
- Create secure and updated passwords with two-factor authentication.
- Monitor credit reports and track credit scores for free on Nerdwallet.com if you choose to.
If you become a victim of identity theft, IdentityTheft.gov provides a free, customized path to recovery.
Risks of Identity Theft Services
There are also risks associated with using LifeLock or any other identity theft monitoring service:
- You may begin to ignore alerts if you become accustomed to receiving many of them.
- You might become lax about your own cybersecurity and statement review habits, assuming that the service has everything covered.
Freezing your credit reports with the three major credit bureaus is the best method of prevention for someone using your information to open up credit accounts. Freezing and unfreezing your credit is free at each bureau, and NerdWallet suggests it for consumers who do not actively apply for credit.
