TrustedID does many things you could do for yourself and has some of the same services as LifeLock. However, they also have some unique features not offered anywhere else.
Here is what they do that you could do yourself for free:
- Send you reminders to place fraud alerts and renew them every 90 days
- Opt you out of getting junk mail.
- Order your yearly free credit reports.
The things you can do for free are only a small portion of what you get with TrustedID's service. They are a foundation to begin on and if you can't afford a company, please do them for yourself now.
Now here's where the good stuff starts - the things that you really can't manage for yourself or do for free. If your identity is stolen, you'll be happy you have this coverage.
- 24/7 monitoring of your credit card and bank account numbers - TrustedID scans the internet day and night looking for unauthorized use of your information.
- CreditLockTM - if you decide you want a 'security freeze' on your credit,TrustedID will handle the paperwork for you at all 3 credit bureaus. You'll have to pay the fee associated with the state you live in (usually $10). With a freeze, no one - not even you - can open any new lines of credit.
- Wallet protection - help replacing the contents of your wallet if it's lost or stolen.
- Anti-spyware software - keeps hackers from stealing your passwords and account into on your computer. You get a free subscription to this software updates for as long as you're a member of TrustedID.
- Medical Benefits protection - One of the newest and most dangerous forms of identity theft is medical benefit fraud. They'll help you review your medical benefit statements to ensure that you and your family are the only ones being treated with your medical benefits.
- Help reviewing your annual Social Security Statement to be sure no one is using your SSN. This keeps you from being harassed by the IRS for unearned income that wasn't yours.
- $1,000,000 Limited warranty. If you have your identity stolen while being a TrustedID customer, you'll be reimbursed for costs you incur with ordering credit reports, legal defense and even lost wages if you miss work while restoring your identity. Lost wages are limited to 4 weeks or $5,000.
- Restoration Services - TrustedID will notify your affected creditors of any identity fraud. They'll also provide info to the FTC and Social Security Administration, if necessary, and maintain a case file for you.
- Live 24/7 ID Theft Specialists to help you by phone or email.
I like the way they administer help for security freezes. TrustedID lets you to control your credit with a single "on-off switch", which would allow you to freeze your accounts with all three credit bureaus at once, from the Web. If you have a freeze and forget your PIN, you're in for a tough time.
[Find out the difference between a fraud alert and a security freeze.]
How much does TrustedID cost?
The monthly cost for an individual is $14.99. You can choose the annual pay plan for only $125 [which is only $10.42 a month when billed annually].
They also have a Family Plan that covers your whole family including children and elderly parents living at the same address. It's $27.99 a month or $240 a year. If you're looking for family coverage, this is the best deal you'll find anywhere.
How does TrustedID's refund policy work?
If you change your mind about wanting to use TrustedID, you can request a refund by calling the Customer Service Center. You can cancel your monthly subscription after 3 months and your credit card won't be billed again.
If you want to cancel an annual subscription during the first 180 days, you'll be refunded 50% of your payment. After 180 days, there is no refund for annual memberships.
Overall Recommendation
Trusted ID is a very solid plan that will be there for you if your identity is stolen. They take care of the administrative details of prevention with your fraud alerts, security freezes and ordering credit reports. It's nice to have less to think or worry about doing.
Protecting your identity is crucial. You can't go merrily along and pretend it can't happen to you because you shred, protect your PIN, don't give out your social security number, etc. That's all important but identity thieves are way beyond that and are very clever.
If your identity never gets stolen, you really don't need any kind of protection. But you just can't figure that you'll never be a victim and recovering from id theft is painful - financially and emotionally. Having a back-up plan like TrustedID insures that you'll never have to go through it alone. $8.25 a month is a small amount to pay for peace of mind about something as important as your identity and credit.
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