According to Javelin Research, the amount of money lost due to fraud in 2020 reached $16.9 billion, a $2.2 billion increase from the previous year. Not only can identity theft or fraud affect an individual financially, it also takes a physical and financial toll on someone.
In this article, we’re going to write about Lifelock Vs. IDShield, two big companies in the identity theft protection industry. Keep reading to find out which service is better.
Monthly Credit Monitoring
First, let’s talk about the most important feature that can help prevent identity theft: monthly credit monitoring.
Checking your credit report regularly could help you detect suspicious activities or irregularities on your credit history as soon as they happen.
Does Lifelock offer monthly credit monitoring?
Yes. Lifelock offers monthly credit monitoring from one or three credit bureaus depending on your subscription.
Does IDShield offer monthly credit monitoring?
Yes. Similar to Lifelock, IDShield also offers monthly credit monitoring for individual and family plans.
Bank Account Alerts
Identity thieves and hackers are becoming more sophisticated with their computers. These criminals can take over your bank account or add new account holders without you knowing it. It’s important to get an instant alert when there’s a suspicious activity on your bank or credit card account.
Does Lifelock offer bank and credit card alerts?
Yes. Only for LifeLock Advantage™ and LifeLock Ultimate Plus™ members. The LifeLock Standard™ doesn’t come with the bank account alert feature.
Does IDShield offer bank and credit card alerts?
Yes. All IDShield plans have the bank and credit card alert feature.
24/7 Live Support
A person who pays for a credit monitoring service expects to be able to talk with a live support anytime she wants. Criminals don’t have a set schedule so your credit monitoring service must be available 24/7.
Does Lifelock offer 24/7 live support?
Yes. According to their website, Lifelock offers 24/7 live support through phone or live chat.
Does IDShield offer 24/7 live support?
Yes. All four IDShield plans offer 24/7 access to customer support through phone or live chat.
Trial Period
For some consumers, trial period is an important aspect when deciding which service to buy. According to Databox, free-trial conversions are up to 25% higher than freemium conversions.
Does Lifelock offer a free-trial period?
No. Lifelock doesn’t offer a free-trial period, but they do offer a 60-day money back guarantee if you buy an annual membership.
Does IDShield offer a free-trial period?
Yes. IDShield offers a 30-day free-trial period to all new members. If for any reason you’re not satisfied with their service, simply contact them within 30 days to cancel your membership, no questions asked.
Medical Record Protection
Your medical record is more than just a doctor’s note, your diagnosis, and treatment. It’s actually much more than that. Your medical record contains your name, address, phone number, emergency contact info, and more. It’s important that your medical record is protected at all times.
Does Lifelock offer medical record protection?
No. Lifelock doesn’t offer medical record protection.
Does IDShield offer medical record protection?
Yes. All IDShield individual and family plans come with medical record protection.
Data Breach Notifications
A data breach is when cyber criminals use unauthorized access to a secure server in order to steal sensitive information. A major data breach happened in May to July 2017 when Equifax, a credit bureau, announced that names, social security numbers, birth dates, and addresses of
143 million U.S consumers had been exposed.
It’s important for fraud protection services to know as soon as possible when a data breach happens.
Does Lifelock offer data breach notifications?
Yes. All Lifelock plans come with data breach notifications.
Does IDShield offer data breach notifications?
No. IDShield website doesn’t say if the company’s plans come with data breach notifications.
Virtual Private Network (VPN)
A VPN hides your real Internet Protocol (IP) address when you connect to the internet, making it difficult for hackers to know your locations and steal your identity. A high-quality VPN is more secure than your regular internet connection. Using a VPN when browsing the internet is one of the easiest ways to protect your identity from being stolen.
Does Lifelock offer a Virtual Private Network (VPN)?
Yes. Lifelock offers a free VPN on three of four plans they offer. In 2017, Lifelock was acquired by Symantec, a computer security company. The company then began to offer cyber security products to Lifelock customers.
Does IDShield offer a Virtual Private Network (VPN)?
No. IDShield doesn’t offer a free VPN to its customers.
Price
Pricing is very important because it defines the value of a product or service. Usually, a higher price is associated with higher quality, and vise versa.
Let’s compare Lifelock Vs. IDShield pricing.
Lifelock Plans & Pricing:
Lifelock Identity Theft Protection comes in four pricing options:
Lifelock Standard: $99.48/year then renews at $124.99/year (up to $25,000 reimbursement)
Lifelock Select with Norton 360: $99.48/year then renews at $149.99/year (up to $25,000 reimbursement)
Lifelock Advantage with Norton 360: $179.88/year then renews at $249.99/year (up to $100,000 reimbursement)
Lifelock Ultimate Plus with Norton 360: $251.88/year then renews at $349.99/year (up to $1,000,000 reimbursement)
IDShield Plans & Pricing
IDShield also has four pricing options:
Individual Plans:
Individual Plan (1 Bureau): $13.95/month
Individual Plan (3 Bureau): $17.95/month
Family Plans:
Family Plan (1 Bureau): $26.95/month
Family Plan (3 Bureau): $32.95/month
As you can see, IDShield structures their pricing options a little bit differently than Lifelock.
All of IDShield plans come with a one million dollar protection plan that covers expenses and legal costs incurred by the customer.
Additionally, IDShield also offers family plans that cover you, your spouse, or domestic partner, and up to 10 dependent children, making IDShield a more attractive option for families.
Final Verdict
As you may have noticed, Lifelock and IDShield plans have their own strengths and weaknesses.
Lifelock offers a more complete protection for an individual by combining their plans with Norton 360. Lifelock also protects your 401K and investment accounts, making it a good choice to protect you personally and professionally.
IDShield, on the other hand, offers family plans that protect up to twelve people (you, your spouse, and up to 10 children) without any extra cost. ID Shield also offers 24/7 access to a licensed private investigator, should you become a victim of identity theft, fraud or other financial crimes
Our verdict is simple: if you’re an individual, go with Lifelock. If you’re a family, go with IDShield. Here’s a much more in-depth review about Lifelock Vs. IDShield if you’re interested in reading more on this topic.
Conclusion
Protecting your identity is something that you should take seriously, and when it comes to online fraud, prevention is the best defense.
Take advantage of a professional identity theft protection service to give you peace of mind knowing that you’re protected in case something bad happens.
