Is LifeLock Worth It?

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Credit monitoring services have become invaluable in this age of data breaches and identity theft. One of the more popular anti-identity theft protection services is LifeLock.

LifeLock, which is now owned by Gen Digital, offers several paid plans for identity theft protection.

But before you shell out any money, you should know that LifeLock doesn’t prevent ID theft, rather, it sends alerts after you’ve been victimized. No one service can definitively prevent ID theft, although money expert Clark Howard says one free option comes the closest:

“A credit freeze is the best way to protect yourself from identity thieves,” says Clark.

Still, you may be interested in knowing about LifeLock’s many services. 

In this article, we’re going to explain what LifeLock offers, how much it costs and whether Clark thinks it is worth the price.

What Is LifeLock by Norton?

LifeLock by Norton is an anti-identity theft service that does credit monitoring and alerts for customers who subscribe.

LifeLock’s Troubled Past

Although LifeLock sells a suite of products that claim to help you when companies get in trouble, LifeLock itself was in trouble in the past.

The company ran afoul of consumer laws for deceptive advertising and having done, ironically enough, a poor job protecting the information they had on you. They reached a $100 million settlement with the Federal Trade Commission.

In 2018, Experian reported that a bug exposed the email addresses of LifeLock’s customers. But that was then: It seems LifeLock has righted its ship these days.

How Much Does LifeLock Cost?

LifeLock has several introductory price tiers: Standard, Advantage and Ultimate Plus. All tiers are available for individuals, families of two adults, and families of two adults and up to five children. All plans increase in price after the first year. Let’s take a look at a few of them:

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Plan TypePaid MonthlyPaid Annually
Standard$11.99 a month (first year)$7.50 a month (first year)
Advantage$22.99 a month (first year)$14.99 a month (first year)
Ultimate Plus | Individual$34.99 a month (first year)$19.99 a month (first year)
Ultimate Plus | 2 Adults$69.99 a month (first year)$32.99 a month (first year)

Let’s look at LifeLock’s Standard and Ultimate Plus subscription plans in more detail. Here are some of the best features:

What Services Does LifeLock Offer?

Standard PlanUltimate Plus (Individual)Ultimate Plus (2 Adults)
Up to $1,050,000 CoverageUp to $3,000,000 CoverageUp to $3,000,000 Coverage Per Adult
Up to $1 million for lawyers and experts.Up to $1 million for lawyers and experts.Up to $1 million for lawyers and experts per adult.
Up to $25,000 in stolen funds reimbursement.Up to $1 million in stolen funds reimbursement.Up to $1 million in stolen funds reimbursements per adult.
Up to $25,000 in personal expense compensation.Up to $1 million in personal expense reimbursement.Up to $1 million in personal expense compensation per adult.
Identity and Social Security number AlertsIdentity and Social Security number AlertsIdentity and Social Security number Alerts for each adult.
One-bureau credit monitoringThree-bureau credit monitoringThree-bureau credit monitoring for each adult.
Identity Lock, TransUnion Credit File Lock, Payday Loan LockIdentity Lock for each adult, TransUnion Credit File Lock, Payday Loan Lock
Phone Takeover MonitoringPhone Takeover Monitoring for each adult.
Alerts on crimes in your nameAlerts on crimes in your name for each adult.
Buy Now Pay Later AlertsBuy Now Pay Later Alerts
One-Bureau Credit Reports & Scores, Unlimited (updates available daily) Three-Bureau: AnnualOne-Bureau Credit Reports & Scores for each adult, Unlimited (updates available daily) Three-Bureau: Annual
401(k) & investment account activity alerts401(k) & investment account activity alerts for each adult.
Home Title MonitoringHome Title Monitoring
Social Media MonitoringSocial Media Monitoring for each adult.

What Is LifeLock’s Refund Policy?

LifeLock offers two refunds in writing: One is a 60-day money-back guarantee on annual memberships. It must be requested within 60 days of your purchase. The other is for a monthly membership, which will be refunded if requested within 14 days of purchase.

What Are Some Free LifeLock Alternatives?

Instead of paying LifeLock hundreds of dollars a year for one of its various plans, Clark says you should save your money by getting a free credit freeze and free credit monitoring.

Here are some LifeLock alternatives that will make your wallet smile.

“Want more meaningful protection from identity theft than LifeLock has to offer? Do a credit freeze,” he says.

Here is a two-step approach to identity theft protection that is FREE:

  1. First, sign up for free credit monitoring with Credit Karma or Credit Sesame. You need to do this step first because you’ll need these free tools to monitor your credit to ensure no one is opening accounts in your name. Don’t pay for credit monitoring!
  2. Then, freeze your credit with all three main credit reporting agencies: Contact Equifax, Experian and TransUnion to have your credit frozen.

Is LifeLock Worth It?

If you see value in having a cybersecurity plan bundled with your credit monitoring, you may prefer LifeLock, but Clark doesn’t share those sentiments. He wants to be clear on what LifeLock is and isn’t though:

“LifeLock is not a scam, it’s just wasted money,” Clark says. “I don’t see the value of paying a subscription for a credit monitor.”

“That’s like having a burglar alarm. You’re much better off being able to keep the burglars out simply by having the credit freeze that you have,” he adds. “A credit freeze does not cover everything in your life, but it will prevent criminals from applying for credit as if they were you, which is one of the most painful parts of identity theft that occurs.”

Bottom Line

Because every U.S. consumer is entitled to free credit reports, can freeze their credit for free and can take advantage of free and robust credit-monitoring services elsewhere, the money you spend on LifeLock could be better spent elsewhere.

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