LifeLock or Trusted ID
78LifeLock vs Trusted ID Reviews
Now that 2008 has reached a new high in security breaches, identity theft protection is on the minds of more people than ever before. Two of the most popular protection plans are LifeLock and Trusted ID. Both of them offer outstanding protection at a reasonable price.
How are LifeLock and Trusted ID the same?
- Fraud Alerts (Called ‘Lender DoubleCheck' by TrustedID)
- Opt-out of pre-approved credit offers
- Order yearly credit reports
- Have a $1,000,000 warranty
- Wallet protection
- Scan internet black markets looking for misuse of your information
- 24/7 on call helpline
Both services have strong scanning features that watch for your personal information being sold or traded on the black market. They look for your name, DOB, address and social security number. You can give TrustedID your bank account and credit card numbers and they will watch for them, too. You'll be notified immediately if any activity with your info is found.
Wallet protection is a nice feature. The last time I thought I'd lost my wallet, I went into total panic mode. It's like losing a part of your life. Knowing you have someone to call who will walk you through the steps necessary to replace your driver's license and insurance cards, cancel and replace your debit or credit cards. And because you have the identity protection coverage, you'll also be at less risk for the identity theft that goes hand-in-hand with a stolen wallet.
As you can see, both companies are quite similar and have the same basic features.
Here are a few differences in how their coverage works.
TrustedID sets your fraud alerts for you every 90 days like LifeLock. They also give you the option of placing a security freeze on your credit files if you prefer that. You have to pay the additional fee (usually $10) at each credit bureau to freeze and/or unfreeze your credit. The handy part about this is that they'll administer this process for you, which can be a real nightmare if you lose your PIN number.
[Keep in mind that with a security freeze, no one can open any new credit - not even you - until the freeze is removed.]
In addition to watching for your information on the black market, LifeLock regularly scans the post office databases looking for a change of address. If they find you in there, they'll contact you to confirm you made the change. Address changes are a popular way thieves hi-jack your mail and financial accounts.
An unsecure computer is a prime target for hackers and malicious software. Your passwords and email/financial account info are an open book to thieves if your computer gets infected. Trusted ID gives you an anti-spyware program you can install on up to 3 computers. This software is updated each day and is free for as long as you have your TrustedID membership. A good anti-spyware program is about $30 a year, so you'll be saving the cost of that.
The biggest difference between TrustedID and Life Lock is the way they deal with an actual identity theft. Nothing can 100% stop a determined identity thief, so you get a million dollar warranty with your membership.
LifeLock has a service warranty that does the recovery for you. They'll hire attorneys, investigators and case managers for you.
TrustedID has an identity theft kit that gives you the step-by-step process of what to do. You'll be responsible for hiring any outside help but you'll be reimbursed for expenses - including lost wages for things like having to appear in court to dispute a fraudulent account.
COST
The cost is nearly identical if you want individual coverage. Trusted ID has the better deal on family coverage. All adult family members (including elderly parents) and children living at the same address are covered with one low-priced membership.
LifeLock
Adult - 16 and over
- $10 per month
- $110 per year
Children (per kid)
- $2.50 per month
- $25.00 per year
TrustedID
Adult
- $10 per month
- $99 per year
Family (all inclusive)
- $19.99 per month
- $189.99 per year
PROMOTION CODES AND DISCOUNTS
LifeLock - get a 10% discount and 30 days free - use the promo code - 9.
Adult - 16 and over
- $9 per month
- $99 per year
Children (per kid)
- $2.25 per month
- $22.50 per year
TrustedID - get a 15% discount and 30 days free from YourIdentitySafe.com. No Promotion Code Needed.
Adult
- $8.50 per month
- $84.15 per year
Family (all family members included)
- $16.99 per month
- $161.49 per year
LifeLock and TrustedID are both excellent companies that have stood the test of time. Either of them is a good choice.
I do like the anti-spyware program now included with Trusted ID's service. I currently pay $30 a year for Spyware Doctor to protect me from all the nasty things trying to get into my computer. TrustedID will save me from having to renew that in a few months.
If you're looking for coverage for a spouse and/or children, TrustedID has the best pricing available when you take advantage of the 10% discount.
Whichever you choose, you'll be able to stop worrying about identity theft because you'll have a good company guarding your back. You'll have unlimited help if you ever become an identity theft victim and you'll never have to be alone to figure out what to do to restore your identity.
Compare more identity protection plans.
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Thanks for your opinion, Ian. I fact, I did read the service guarantees of both companies and have researched the number of times both companies have come through on their promises. I am a licensed insurance agent and know how to read the fine print.
There's nothing that can absolutely 100% guarantee that you'll never become a victim of identity theft - you can only lessen the chances. The biggest benefit of identity theft protection companies like LifeLock, TrustedID and others, is to have unlimited help should you find yourself a victim.
Both LifeLock and TrustedID stand behind their service guarantees and do the work for you to repair any damage. They make sure you come out 'whole' and undamaged.
You probably wouldn't be 'lollin' so hard on the day you found out your identity was stolen and you were on your own to fix it. Get an attorney lined up now because you'll be needing one if it ever happens.
I was lollin because there were MANY more differences in these two companies policies that were worth mentioning. In TrustedID's case, they offer compensation for lost work time, and do not have a minimum fraud amount for their million dollar policy to take effect, like Lifelock. Maybe you want to look over the fine print again. Also, their prices have changed since you wrote this article.
You're right, Ian, about TrustedID's price change - I've updated it. That's only one of many changes that identity theft protection plans are going through as this new industry matures. Both LifeLock and TrustedID have made several changes in the past 6 months since I first wrote this hub.
As far as the compensation for lost wages goes.. TrustedID will reimburse you for a limited amount as stated, " Amounts payable by TrustedID under this "Lost Wages" section shall not exceed the greater of (a) four (4) weeks of Your lost wages and (b) $5,000.00." That's a fairly common clause you'll also find in other ID theft contracts that include this benefit.
LifeLock doesn't have this in their contract. I can only make an educated guess on why that is. I believe it's because they will do most of the work for you so that you won't be losing work time. TrustedID doesn't give you as much hands-on help and perhaps some people would prefer that. Others just want someone to take care of it for them.
As to a 'minimum fraud amount' you mentioned, you're right - I've missed that. Please refer me to the section in their guarantee that reflects that amount. Section D, Subsection (i) says, "If the amount involved is over $1,000, we reserve the right to investigate the Service Guarantee request.." That doesn't mean your loss has to be over $1000 to qualify.
Neither company is going to give you a million bucks if your identity is stolen. That's not how a service guarantee works. It's highly unlikely that costs will ever get even close to a million. And neither company can guarantee that your identity won't be stolen. They don't claim that either. Nothing can guarantee that. The service guarantee is there to cover the numerous costs involved in restoring your identity.
Both LifeLockand TrustedID are very good companies as I wrote in the first paragraph. There are subtle differences that could make one company have more appeal to different people.
Nice job corvette89 addressing the irascible Ian. I suspect that as Ian gives each offer further scrutiny (dotting i's and crossing t's) he probably remains unprotected without coverage from either provider.
Bottom line both programs provide outstanding proactive protection. Choosing either one is a winning proposition.
EdG
Good info. Definite help in my decision making. Thank you.
corvettez89:
I for one truly enjoyed this article, and will sign up because of your review! Certainly not "shitty" by any means. People like you are doing a great service to the public and I certainly appreciate it!
I want to purchase protection, however, I am sitting on the fence. I truly do not know which company to chose. They both sound so good. I am so concerned about Identity theft. I read about Trusted ID on their homepage and they made it sound like you had to have a situation or be theatened by one to purchase this coverage. I just wanted to purchase this insurance as a protection and peace of mind coverage. I definetly will purchase a coverage just do not which one yet. I have heard allot about LifeLock, all good.
Mary,
TrustedID is a good plan to sign up for - you don't have to have a 'situation' to enroll. Personally I feel like we're all threatened by identity theft at any time. You just don't know when you might be the next victim. I was talking last week to a gal who works at my gym. Someone managed to get her PIN number on her debit card and was ringing up purchases all over the state. She has no idea how it happened.I told her to be sure to get her free credit reports and make sure no one had opened accounts in her name. She's only 19 and doesn't need to start off with ruined credit.
To Pingpong - Thanks!
I read the service warranties of both companies and sound something far more basic at stake -- and that makes me wonder if the information above about the $1 million coverage is out-dated. LifeLock promises coverage ONLY if their service fails to operate as promised. It does NOT promise ANY coverage if the client simply has an identity theft event that was NOT because of a a LifeLock failure. Plus, nothing in the contract with LifeLock says exactly HOW a service failure is determined -- although they have a forced arbitration clause so that is probably the answer. TrustedID uses very different language and seems to provide the kind of all-causes coverage which most people would want. It is true "insurance" because it appears to apply to ALL identity theft events regardless of who is at fault. (However, I assume the client is responsible if the client grossly compromises their own security.)
Anyway, perhaps you could look over the current service agreements and let us know if LifeLock's language that I saw is a new and weaker guarantee. Because if I only have "coverage" if they commit some major security failure (and admit willingly to it), all "normal" ID theft event losses are strictly up to me to pay for.
On the other hand, I may simply pay an extra $25 annually on my homeowner's insurance and get the coverage for sure.
Where is the "Easy Button"?
Hey corvettz89, I really don't know about Lifelock, I mean, have you read the reports about Todd Davis' identify theft causes? You know, he's the CEO of Lifelock and parade's nis SSN around in comercials, and well it appears that at least 20 people have stolen his identity.. i mean, what's up with that?! I really don't wanna sign up with Lifelock because of this and other reviews i've read.
But then, at the same time, could that happen with Trusted ID? what i've read so far, it seems Trusted ID is more ... "trusted" or safe, i think.
What would be your opinion on this?
I've been a Trusted Id member for over a year now...what I don't understand is how come I openned 3 new credit accounts in my name this year (1 was a big car loan) and yet no one ever checked (or double checked) before openning the accounts? I was under the impression that they would call and verify with me before anything is openned....?
Looks like going with LifeLock is worse than doing nothing at all…
A real bullshit service. Never received their so called Identity threat score. Called several times to get a hold on customer service. Never received any credit report from their so called third party service. I wonder what service do they really provide??? the very first day i signed up , their details were same for over 2 months..which was NOTHING. I am switching my service to someone else.
what is with trusted Id ? I called to ask question for opening an account. I waited over 20 minutes to have nobody answer. I hung up and called back as if I had an account. again 22 minutes later and here I sit on hold. I guess I don't need the service if they are not their for a customer with a problem.
I just spent 28 min on hold with TrustedID before talking to a customer service rep about my account. I, too, opened a credit card acct a few weeks ago and never heard squat from TrustedID. The rep said that no one is offering Fraud Alert anymore for their customers. My 30-day free trial has expired. I made a mistake entering my cc number, so I know have 13 days to enter a new number or be cancelled. I was trying to find reviews on TrustedID vs Lifelock. Thinking that maybe TrustedID is better ... ???
I signed up for Trusted ID's "ID Freeze Individual Plan" 5 months ago, and I don't think they're doing anything for me. They say they'll send you a reminder when your 90-day fraud alerts expire; however, they never sent me a reminder and I had to remember to place new alerts myself. Also my credit card info was stolen and used by someone in CA to make a counterfeit card (Trusted ID claims they monitor the black market where such information is traded and sold). I am thinking about getting 50% of my money back (which I can supposedly do within the first 180 days of membership) and going with the similar service offered by my bank (Chase).
hi,
Great hub page!! i can learn a lot form you.
You have such helpful info on here.
We can never be to safe whne it somes to our ID!!
Thanks!!
All of you guys that think that lifelock is good. Well let me tell you all something ITS A SCAM!!!! I had lifelock and I just cancelled it yesturday because its all fake!!! I was searching for reviews about lifelock and alot of people are complaining about this company so dont be scammed!!! So whatever you are all paying monthly or annually you are just throwing that money into the trash. Now I don't know what identity theft protection is the right for me. You all don't believe me??? Well check out this site and find out http://www.phoenixnewtimes.com/2010-05-13/news/cra I also checked this site out.
Update of my post 7 weeks ago... Requested a partial refund from TrustedID (they say they'll refund 50% within the first 180 days), and they simply will not give me my money back after repeated inquiries. Also, my fraud alerts expired again and they did not send me a reminder to update them (as they claim they'll do). Finally, I deleted most of my personal information from my TrustedID profile, yet my "score" is incredibly still the same!! They're telling me I'm protected! How can they protect me if they don't have my information??
I was able to call (866) 943-1294 LifeLock and get it Free for 30 days.
Trusted ID sucks,
It renewal my contract, charged my credit card and if you cancel even days after the charge they will only reemburse you 50%.
This has also created all kinds of problems because it has not updated my information and I was turn out several credit request because of the fraud activation, that never works and no one contacts you if you are been search for credit applications.
ian 3 years ago
Wow, I take it you guys didn't even read the million dollar warranty agreements of these two companies. They differ a whole lot more than what you've described. What a shitty 'review.' lollin hard.