The Truth About ID Theft Protection Plans

It seems everyone is getting into the act of offering Identity theft protection policies & plans. It’s a very serious problem that is spreading like wildfire. Recently a friend of mine has one of his credit cards used in Brazil even though he has never been to the country.

Consumers are also being shocked when they discover the limitations of the protection they purchased. Much like when you hear an intruder in your home, you need immediate action. You don’t want the 911 operator offer to e-mail a crime report with a list of possible affected agencies. You need someone with authority

Below is a coverage chart that will hopefully help you. I called and spoke with the listed agencies representatives rather then just relying on a website or brochure.

Features PrePaid Legal Life Lock Dave Ramsey  Zander Ins. Farmer’s ins. Identity 911 Many Banks
Credit Monitoring Yes 2 Adults Yes No Yes 2 people Yes
Monthly Cost $9.95 w/ legal plan. $12.95 w/o $10.00 per person $5.42 $9.95
Coverage for minor children Yes + $1.00 per month up to 4 kids No No Yes No
Recovery cost limits Unlimited $1 Mil – only if their system failed to inform you of a thieft Up to $20K for reimbursable expenses $28,500 for reimbursable expenses Varries
Are Attorneys used? Yes w/ Legal Plan No No No No
Do you sign a Limited Power of Attorney? Yes No No No No
Do you need to call financial & government agencies? No. That’s our job yes No, but only investigate what you uncover yes Yes
Covered Types of ID Theft
Medical Yes No Yes No No
Socical Security Yes No Yes Yes No
Driver’s License Yes No Yes No No
Criminal Yes No Yes No No
Financial Yes Yes Yes Yes Yes
24/7 Live legal access if arrested? Yes w/ Legal Plan No No No No
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