Lifelock Protects Your Financial Well Being
Studies completed by the Identity Theft Resource Center have shown the harmful consequences of identity fraud. These Reports demonstrate that this crime is the fastest growing crime in America and that the number of victims continues to increase each year. This is the reason every identity theft protection company recommends getting an identity protection program or use a service. There is an identity protection service, Life Lock, that promises to protect your good name. Apart from all the benefits that LifeLock offers such as placing fraud alerts, WalletLock and TrueAddress, reducing junk mail, free credit reports, etc., it also has a one million dollar service guarantee to protect its members. Read all about their other services by visiting this Lifelock Review, this article is about their service guarantee.
LifeLock’s Service Guarantee is straight forward, but somewhat limited. The company pays up to $1,000,000 to deal with the failure or defect of their identity theft protection service. This one million dollars is given per member, per lifetime for all the incidents in total no matter the circumstances. The guarantee does not include everything. The service guarantee does not reimburse special, incidental, indirect or consequential damages like lost wages, lost profits, or lost opportunities. Their guarantee makes credible their identity protection service and is protected under the Terms and Conditions Agreement which you can read at www.lifelock.com.
There are certain situations when Their service guarantee is applicable. If you are a member in good standing and a criminal accesses your personal information to commit identity theft, Lifelock will hire experts to help with the restoration of your credit and will pay for all expenses incurred and any financial loss. Users of Lifelock must be honest with the company and communicate to them that their private information was used without any authorization to commit fraud within 30 days of finding out.
The company will be in charge of repairing any damage caused due to failure of their service. However, they will appoint and pay for the expenses of experts who will be licensed in the jurisdiction of the place where the issue happened. If the financial loss is over $1,000,000, Life Lock will only be responsible for one million dollars. If after an investigation by LifeLock it is determined that your personal information was used without your authorization to commit an illegal crime, LifeLock will perform as described in the terms and conditions agreement. However, if LifeLock, notices intentionally misrepresented facts or an attempt to deceive in which the member was involved, he or she will be required to pay back upon demand all the money the company has paid for the restoration, including any other cost the company incurred.
To have a better understanding of their terms of service you should consult with a lawyer as this is not legal advice nor a vote for or against Lifelock’s service guarantee. An identity protection company guarantees its service for a reason so I tried to share my understanding of it as best I could. Hopefully this helps with any decision you may make in regards to Life Lock.
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