Is Lifelock a scam·

Posted By: Dr. Frugal in Budget on 08/04/2007 at 12:07:41

With all of the news recently about ID theft and other general security breaches, you might be considering getting something that could effectively be called ID theft insurance. There are two leading companies, Lifelock and Debix, that cover personal insurance but we're only going to look at Lifelock right now, since they're the more well-known company. And I guess it would be a good time to answer the question: Is Lifelock a scam·

Not to sound off-putting but it really depends on what you consider a scam. The service that Lifelock provides is definitely something you can do yourself but I'm not sure that makes it a scam. Ignoring the oft-suggested mafia ties to the waste management business, you could take all of your trash to the landfill but you probably pay them to do it for you. Like most services, it's more about convenience than actual need. Lifelock simply requests locks on your credit so that you're required to approve everything manually. Personally, I don't think that part is a scam. That said, the fact they offer $1m in "protection" doesn't mean a whole lot to me. Again, I think it's just a marketing tactic and while I certainly don't think Robert Maynard is going to be canonized for his work, as far as I can tell it's just a service, not a scam.

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