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Has anyone heard or had any experiences with the new "identity guards" I've heard radio commercials for? It's like an identity theft insurance policy. They say they make it so absolutly no one can open accounts in your name but you, and they say they back it up with up to $1,000,000 if someone steals your identity.

I'm interested in hearing if anyone has tried this or knows anything else about it. It sounds like a great idea, but if there's some fullproof way of keeping your identity safe, shouldn't it be made public so everyone can protect themselves?

I can't tell from the commercials I've heard if it's just straight insurance, or if it's something else. I can't remember the name of the company, but I think it's something like LifeLock, Identity Guard, or something like that.

I guess the monthly premium of this insurance will be quite high. Personally speaking, I will want more companies in the market with such offers before I cover up. At present if this is the only company making such offers, I will wait for some time until there are some reviews posted about this insurance and know the advantages and disadvantages.

Sub: #1 posted on Wed, 03/14/2007 - 10:52


(Posts: 239 | Credits: )

I'm guessing they take all of the fraud prevention measures that you can do for you. Then if anything goes wrong, there's a seperate insurance policy covering you.

Sub: #2 posted on Wed, 03/14/2007 - 12:09

Morningstar Morningstar

(Posts: 1634 | Credits: )

That's what I was thinking. It seems thought that the fraud prevention measures available to us don't always prevent id theft, and the commericals for this makes it sound like it's foolproof.

The name is life lock. I just heard the commercial again. Here's some of what they say on their site:

LifeLock doesn't just report unauthorized use of your credit information, we prevent it by working with the top four credit bureaus to make sure you're contacted to approve any credit transaction before it takes place. We also remove your name from pre-approved credit card offers and junk-mail lists, where identity theft often gets started.

Isn't that the same as putting a fraud alert on your report?

Sub: #3 posted on Wed, 03/14/2007 - 14:22

goudah2424 goudah2424

(Posts: 7935 | Credits: )

I heard something on the news today about some kinda identity protection, but I forget what it was called, but I know they were saying you can freeze your credit for a year.

Sub: #4 posted on Wed, 03/14/2007 - 17:06

brownsugar brownsugar

(Posts: 1389 | Credits: )

You can do basically the same thing by opting out and placing an extended fraud alert in all 3 credit bureaus.

If you are really concerned,you could consider a security freeze on bureau reports. The best product that I have used in the past was true credit. You can pull all three bureaus every 24 hours and it has alert systems you can set to email you.

Sub: #5 posted on Wed, 03/14/2007 - 18:26

cajunbulldog cajunbulldog
(Posts: 4857 | Credits: )

I'm not too worried myself, i dont think anyone could get too much credit with my score right now, but I hear their commericals on the radio and was thinking that with a $1,000,000 guarantee that maybe they were doing something new or different to protect from identity theft. I'm kinda disappointed that it sounds like something anyone can do for free, minus the $1,000,000 guarantee. But I'd bet that it depends on your income and such how much the guarantee would really be for. It sounds like a bit of a rip off to me.

Sub: #6 posted on Wed, 03/14/2007 - 19:52

goudah2424 goudah2424

(Posts: 7935 | Credits: )

The guarantee covers direct expenses as a result of identity theft.

-lost wages
-long-distance calls
-funds that are actually stolen from you or third party that holds you responsible.
-attorney costs to resolve the matter (they pick the atty and manage your case)

I guess what you would be paying for is for them to lock your credit, and if something still slips through, then they fix it for you.

I don't have to worry though, just like goudah, my credit ain't so great, either.

Sub: #7 posted on Wed, 03/14/2007 - 22:11

Morningstar Morningstar

(Posts: 1634 | Credits: )

My credit cards have built in zero fraud liability.I have good credit so I have to keep a close eye on mine to make sure my private info doesn't get compromised.

Sub: #8 posted on Thu, 03/15/2007 - 14:32

cajunbulldog cajunbulldog
(Posts: 4857 | Credits: )

When I hear about someones identity being stolen, I secrelty wish they had taken mine then I could start all over, PLEASE TAKE MY IDENTITY, as like most of you nobody would get very far with my credit score, don't think they could even finance a tatoo or a pack of fags

Sub: #9 posted on Thu, 03/15/2007 - 15:32


goudah thanks for a wonderful information here.i learn a lot with the great members of this forum.thanks!!!

Sub: #10 posted on Thu, 04/05/2007 - 16:57

tsacgiv tsacgiv

(Posts: 2106 | Credits: )

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