The following is a list of FAQs about
LifeLock, its service and other important facts.
How big a problem is Identity theft?
According to the Federal Trade Commission, identity
theft is the fastest growing crime in America.
Roughly 10 million Americans have their personal
information stolen and misused in some way every
year, costing consumers $5 billion and businesses
over $40 billion annually.
What does LifeLock do?
On your behalf, LifeLock requests that fraud
alerts be placed on your accounts. By placing
these fraud alerts, you are asking that creditors
take extra care to identify who you are and
to investigate the validity of any pending transaction.
LifeLock also requests that your name be removed
from pre-approved credit card lists and junk
mail lists. In addition, LifeLock annually orders
your free credit reports from the three major
credit reporting bureaus.
Why do children need protecting?
The identities of children are stolen more
often than you think. Criminals know they
can use a child's information for years before
being identified. By then, the thieves have
run up major accounts and ruined credit for
that child. LifeLock is just $25 a year for
a child age 15 and younger with an adult paying
If a child has a valid credit
report, LifeLock will request that the fraud
alerts are placed on the child's file. LifeLock
also requests that a notation is placed on
the report indicating that there should not
be any activity on the file because the child
is a minor. If a child does not have a credit
report, as is usually the case, LifeLock confirms
every 90 days that that no credit report exists.
In addition, LifeLock prepares a request to
the Social Security Administration for a copy
of the child’s work history to confirm
that the child’s social security number
is not being used fraudulently.
Do I have to give all my credit card numbers
to you when I sign up?
No, LifeLock does not prevent anyone from using
your existing accounts. However, those accounts
would be covered by the guarantee. Through the
information you provide, LifeLock will place
alerts to help protect against anybody other
than yourself opening new lines of credit. LifeLock
suggests you place all your account numbers
in a secure place if your wallet or purse is
stolen. If that occurs, call LifeLock so we
can help with contacting the credit card companies
to cancel the stolen cards and reissue new ones.
Who will represent me if my identity gets stolen?
In the event that your identity is compromised,
LifeLock will hire qualified professionals to
assist you in addressing whatever complications
What happens when I apply for credit?
After a fraud alert has been placed in your
credit file, any creditor using that credit
file to grant new credit or an extension of
credit in your name must contact you by telephone
(using the phone number specified in the fraud
alert) or take reasonable steps to verify your
identity and confirm that the credit application
is not the result of identity theft. If someone
else is trying to use your identity to get credit,
the fraud alert usually stops them cold. We
say "usually" because nothing is perfect.
That's why we have our Service Guarantee.
Is LifeLock going to call me if someone tries
to use my information?
No. LifeLock's system is designed for you to
have control, so you will know before we do.
The fraud alerts placed on your accounts ask
creditors to call you if someone is trying to
establish credit in your name.
I have been a victim of identity theft, can
you help me?
We can direct you to competent and reputable
firms that specialize in identity remediation.
Our service can prevent further damage to your
identity, however, our Service Guarantee does
not cover issues which occurred prior to you
becoming our client.
Who needs this protection the most?
Any individual who has a social security number
and assets to lose should be concerned with
identity theft. While we have heard people say,
"I don’t have anything for them to
take," criminals are better than you at
making major purchases with your information.
What makes you different than insurance companies?
First and foremost, LifeLock aims to prevent
ID theft. Insurance companies do nothing to
prevent anyone from using your personal information.
Insurance companies will give you a policy to
provide some financial coverage if you become
a victim. However, there are also several disclaimers
on what is covered and not under these plans.
Who is LifeLock?
LifeLock is a private company headquartered
in Tempe, Arizona. The company began offering
its service in April of 2005. LifeLock is the
largest and fastest growing identity theft prevention
company in the United States.
What is the price for the LifeLock service?
$110/ year per adult OR $10/ month per adult
$25/year for children 15 and under
Does LifeLock have a family discount plan available?
No, we do not. Everyone has a different SSN
and identity, so LifeLock must charge a rate
per person. The guarantee is also based upon
per person membership.
Why does the entire family have to pay annually
if there is a minor child listed in the family?
LifeLock now provides the option to pay either monthly or annually regardless of if there are minors on the account.
I prefer signing my family up monthly as opposed
to annually. Can you do this?
Yes, you can choose between paying annually or monthly during signup.
How do I access my account after enrollment?
If you need to make a change to your account,
contact client services at 1-877-LIFELOCK.
What happens if I get a fraud alert letter from
the credit bureaus stating they cannot find
my minor child’s credit profile?
That is good, because your minor shouldn't have
one. This letter can be ignored. If the child
is a client, they too are protected by the guarantee.
What if I get a fraud alert letter from the
credit bureaus that says my minor child's fraud
alerts have been set?
That is good because this means that your child’s
account is protected to the same extent as yours.
We will also make sure that the credit bureaus
are notified that this is a minor's account
and there should be no activity on it.
Why do I need to add a previous address to my
If you have been at your current address for
less than 2 years, the credit bureaus want
your previous address in order to set the fraud
alerts on your credit file. If you don’t
give a previous address, then we need documentation
to send to them to verify that it is you. To
do this, we need a copy of your DL license and
a utility bill with your name and address on
Why does LifeLock need to know my personal information?
In order to request that the credit bureaus
place fraud alerts on your behalf, we need your
personal information to do so.
How do I know LifeLock's system won’t
be hacked by criminals or employees of LifeLock?
LifeLock is certified ISO 27001. This is the
most stringent security certification within
the industry and LifeLock was the first company
in the identity theft prevention field to achieve
this status. LifeLock has taken every measure
possible to keep information secure. Nevertheless,
as a client of LifeLock, you are still covered
by our guarantee.
Can I enroll other family members later?
Yes, call client services to enroll them.
Can I obtain my credit score through your service?
While receiving one free credit report from
each bureau each year is part of the standard
LifeLock service, your credit score is not included.
By law, you are allowed one free credit score
a year but you would have to initiate the request
through the bureaus yourself. If you wish to
obtain additional credit reports, those too would
need to be obtained directly from the bureaus.
Are there any plans for LifeLock to go public?
LifeLock is a private company and at this time
has no plans to go public.
How long has your company been in existence?
While the LifeLock system has been in testing
and development for more than three years, the
company first started selling its services in
How many customers do you have?
We are growing very quickly. As of September,
2007, we have more than 300,000 individual clients.
Who backs up LifeLock financially?
LifeLock is funded by private equity investment
and venture funds.
How long does it take to obtain my credit reports?
The credit bureaus have been getting a substantial
amount of fraud alert requests and may take
up to 4-6 weeks for you to receive your report.
Although you may not have received your credit
report, you are still covered by LifeLock from
the time you signed up.
Does LifeLock cover my business as well as my
LifeLock can only cover individuals with Social
Who calls me to let me know that someone is
attempting to obtain credit in my name?
It will be the creditor who is determining whether
to issue a line of credit.
I'm applying for new credit and I’m a
client, do I need to call LifeLock?
No, it is not necessary to contact LifeLock.
However, if you run into any problems or undue
delays, call us at any time and we’ll
expedite the process for you.
I already have alerts on my credit file, what
will happen to them when I become a client of
Once your fraud alerts have expired, LifeLock
will request on your behalf that the fraud alerts
are reset and continue to do so as long as you
stay a client or until you no longer believe
that you may become a victim of identity theft.
If you sign up as a client while these initial
alerts are placed you will be covered by our
guarantee at the time you sign up for the LifeLock
Do I need to call you if any of my information
changes on my account?
Yes, contact client services with any account
If someone steals my credit card number, how
would LifeLock handle this?
The fraud alerts that LifeLock requests are
designed to help prevent someone from opening
a new line of credit. If someone gets your credit
card number, first report that credit card as
stolen. If charges were placed on that card,
your credit card company should credit your
account for some or all of the charges. Should
you need assistance resolving the issue, call
us and we'll expedite the process for you.
Will signing up for LifeLock damage my credit
No, LifeLock will not affect your credit score
in any way.
What questions will the creditor ask me for
The creditor will ask you questions that only
you would know the answer to. Most questions
will be taken off your credit report. For instance,
your previous address, who your mortgage is
through, what your car payment is, etc.
What if there’s a dispute? Will you handle
it for me?
If there is a dispute, we will hire qualified
professionals to do whatever it takes, for as
long as it takes, to resolve the problem.
If the consumer can do these things by themselves,
what is the need for LifeLock?
Convenience and protection; for instance, most
people could change the oil in their car but
don't. LifeLock requests on your behalf that
fraud alerts are placed on your credit report
every 90 days so you don’t have to worry
about it. However, the most important value
is the $1 million dollar Service Guarantee.
Remember just because you have fraud alerts
placed does not guarantee you from becoming
Will I get $1 million if I become a victim of
Not necessarily. We will reimburse you for any
money you lose because of the theft and we will
pay the costs associated with repairing the
problem up to $1 million.
What is the most important part of the LifeLock
The overall peace of mind you’ll get when
you know you are completely protected from identity
What is the process if my information is taken
while a customer?
You should contact LifeLock immediately. We
and our expert partners will take care of the
Where does the $1 million come from that covers
Our service guarantee is funded through funds
in reserve accounts, coupled with insurance
coverage from one of the highest rated insurers
in the nation.
Can LifeLock stop someone from removing money
from my bank account?
No, but the LifeLock guarantee will replace
any funds the bank doesn’t.
If credit card companies will pay me back for
anything criminals use, what does LifeLock do?
While most credit cards will pay back items
purchased by someone else once the card is reported
stolen, there is still small print and a time
period where everything must be reported. In
any case, the LifeLock guarantee is intended
to protect your credit and new cards and or
bank accounts that could be issued.
If I lost my wallet and someone used my credit
cards and drained my bank account, what would
After you let the bank and credit card companies
know your wallet is no longer in your possession
and they do what they can, LifeLock will reimburse
you for the rest of your losses. LifeLock can
also hire professionals to work on your behalf
to oversee the process so you are not out any
Is it true that I need to sign a power of attorney
No. The power of attorney we require is ONLY
IF YOUR ID is compromised and we need to act
on your behalf in instituting our $1 million
service guarantee. Additionally, the power of
attorney we require at that point is very limited
and only allows us to work on your behalf regarding
issues surrounding your identity. You may revoke
this at any time.
Is there anyone else that does what LifeLock
There are companies similar but no one has the
experience, process or expertise. No other company
provides a $1 million dollar service guarantee.
If I shred papers and check my credit reports,
will I be protected?
Shredding personal papers is a great step to
protect your identity, but you must understand
that your information is everywhere. Your doctor,
dentist, your college, your bank and your health
club are examples of places your personal information
What would you consider to be the two or three
most important things a consumer can do to protect
Set fraud alerts! They expire every 90 days,
so you will need to continually renew them yourself
or sign-up for LifeLock (www.lifelock.com) at
$10 per month and we not only request that the
alerts be renewed, we stop most pre-approved
credit card offers and junk mail, and we back
it up with a $1 million service guarantee.
2. Check your credit report
every three to four months to look for fraudulent
3. Shred your
mail and unneeded personal information.
Does LifeLock monitor credit cards?
No, credit card companies do a fine job monitoring
their own cards. LifeLock helps provide protection
against someone applying for new credit cards
in your name.
What is the difference between credit card theft
and identity theft?
Credit card theft is when someone steals your
credit card and runs up charges. Identity theft
is when someone steals your personal information
(social security number, date of birth, name,
etc.) and uses it to open a new line of credit,
gain employment or even establish citizenship.
What's the difference between fraud alerts
and a credit freeze?
A credit freeze locks down all of your personal
information making it impossible for anyone
to open a line of credit in your name, including
you. There are also fees involved with many
credit freezes. When you place a freeze, you
pay a fee. From there on, if you want to open
any new line of credit (loan, credit card,
cell phone) the freeze must be lifted; there
will be a fee for that as well.
Currently 33 states and the
District of Columbia offer the credit freeze
option, but if you are not in one of them,
you cannot do this. Everyone can subscribe
Why doesn't LifeLock offer credit monitoring?
Credit monitoring will alert you after someone
has stolen or used your identity. LifeLock wants
to protect you before that ever happens. We
have found that once our systems are in place,
credit monitoring provides no additional benefit.
Why does everyone recommend credit monitoring
and not a service like LifeLock?
Credit monitoring is the old technology, but
it is something with which people are familiar.
LifeLock represents the new generation in Identity
Credit watch services have come into prominence
thanks to the many breaches that have been publicized.
What exactly is a credit watch, and what benefit
does such a service offer the consumer?
Credit Monitoring (or a watch) is the credit
bureau selling the consumer their own information.
After there has been a change on your credit
report, the bureau notifies you in 24 to 72
hours that there has been a change. It is then
the consumer's responsibility to check the information
for accuracy and by the way, if they find that
it is a case of identity theft, the consumer
is responsible for any losses, expenses and
has to spend the time to clean up the mess.
The Bureaus do nothing to actually prevent the
crime of identity theft, nor do they help fix
How does a credit watch service work, and are
there significant differences between the three
major services (Experian, TransUnion, Equifax)?
All three work basically the same, but it should
be noted that each bureau only notifies you
when there has been a change on their credit
report, not the other two
When an organization offers a free credit watch
subscription in response to a breach that may
have affected a consumer, is the service different
than what he or she would receive if they subscribed
on their own?
Monitoring may give the victim of the data breach
a false sense of security. Again, the bureaus
do nothing to actually stop the crime before
it happens and do nothing to help after a person
has been victimized. They only provide quick
notification of a change, nothing more.
What is the consumer's responsibility once a
credit watch service is initiated? Is it a "turn
it on and it works" proposition, or must
the service be actively managed by the consumer
to have any real effect?
The burden is on the consumer. They must check
the credit report after they have been notified
of a change and then they are responsible for
cleaning up any mess of identity theft. The
FTC says it is an average of 177 hours over
two years, if you can clean it up at all.
Are there hidden costs, dangers, etc. to working
with the credit agencies?
What should consumers know that might be otherwise
difficult to find out on their own?
Consumers should know that the credit reports
you buy will not include any "non-match"
name and social security numbers. That means
that if someone steals your social security
number for employment, but uses their name,
you will not see the accounts on your credit
report. However, your credit score could be
affected and lenders would be able to see the