Is LifeLock Identity Theft Protection Really a Rip-Off?

Standard

LifeLock Identity Theft Protection ServicesLifeLock sucks. When I first heard about LifeLock a few years ago, I was very intrigued by its service. I was especially interested in how it advertised the services: With the company’s CEO telling everyone his social security number.

The company “guarantees” that your identity will never be stolen, and it offers a “$1,000,000 Service Guarantee.” Continue reading

LifeLock Is Watching Me!

Standard

The people at LifeLock are on a serious mission to keep the company’s critics quiet. They even called me this week in an effort to “educate me” on the virtues of LifeLock so that I’d quit criticizing them publicly.

So imagine my surprise today at being notified that I had someone new “watching” me on Twitter. (To those who don’t know about Twitter, think of it as a mini-blog to which people can subscribe to see your updates.)

My new watcher was named Ben Rabicoff, and it only took me a few seconds to find out why: He’s the “online marketing manager” for LifeLock. (See profile information from LinkedIn below.) Continue reading

The Lifelock “Guarantee”: Talking Out of Both Sides of Their Mouth

Standard

Here and on WalletPop.com (AOL’s personal finance site), I’ve been discussing a company called LifeLock. They purport to help people prevent identity theft. They’re slick marketers and they’ve really capitalized on people’s fears of identity theft. But I don’t like the company or its services.

One of the reasons I don’t like the LifeLock service is because I don’t think it’s worth the money. Consumers can do more for free on their own, than they get from LifeLock. (Their main service involves placing a “fraud alert” on your credit report, which is not worth much to a consumer. They need a “credit freeze” to have a reasonable chance of protecting themselves, and LifeLock doesn’t offer that.)

And the other reason I don’t like LifeLock is because of their “$1 million guarantee.” I don’t think that guarantee is worth a darn thing. Continue reading

LifeLock CEO: Our Service Kinda Works

Standard

Todd Davis, the CEO of LifeLock, is trying to get the word out that the LifeLock identity theft service works sometimes!

In the below video, Davis tells Matt Lauer on the Today Show that his identity has only been stolen once, darnit! I’ve been reporting what the lawyers are saying about LifeLock, and it’s not good.

They basically say that the service is worthless. Although LifeLock puts a fraud alert on your credit report, this is something you can do on your own for free (rather than for a recurring monthly fee to LifeLock) and that the fraud alerts aren’t as effective as LifeLock leads you to believe. Continue reading

LifeLock Sucks?

Standard

Lifelock CEO Todd DavisI did a post yesterday on WalletPop about LifeLock. They basically advertise services to protect you from identity thieves.

When the service first was unveiled, I was intrigued. So much so, that I signed up to be an affiliate. (I never actually marketed the services as an affiliate, sold any products, or received any compensation, though.)

The concern of identity theft is very real, as many people have their data compromised each year. I even had my personal details compromised in 2006, thanks to the carelessness of the AICPA (the national professional organization for CPAs). So LifeLock initially seems to make sense… Continue reading