LifeLock Review for 2021 | Affordable Identity Protection

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Updated: 15th Jan 2021
Written by Drew Cheneler
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January 15, 2021
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Identity theft protection is not a joke. Millions of people suffer from it every year. But you don’t have to be one of them if you have decent identity theft monitoring and reimbursement services.

One of the best picks for this solution is LifeLock: a well-known identity theft monitoring package that recently teamed up with Norton to offer antivirus security at the same time.

In this LifeLock Review, we take a detailed look at what LifeLock offers so you can determine whether it’s right for you.

What is LifeLock?

LifeLock is an identity theft monitoring, recovery, and alert service based in Tempe, Arizona.

In addition to providing identity theft protection benefits, many of its plans are paired with the antivirus package Norton 360. Combined, both products may be able to provide your digital data with comprehensive security.

Specifically, LifeLock tracks various aspects of your digital identity, including:

  • Credit and bank accounts
  • Public records
  • Personal Identifiable Information (PII)
  • and more

It’ll send alerts if it detects that this information may be being improperly used. Furthermore, LifeLock provides some services that can help you to cover any financial losses because of identity theft.

How Does LifeLock Work?

LifeLock uses scanners and digital tools to check “dark web” resources and sites against your personal information.

When it finds your personal information used in a place you haven’t authorized, it’ll send out an alert and help you take steps to combat any identity thieves and recover your personal information before it can be misused.

Plans and Protection

LifeLock offers four main tiers of protection. Each tier costs more than the one before it, but you’ll get progressively more security benefits and features in exchange.

LifeLock Standard

LifeLock Standard is the basic plan that starts at $9.99 per month, though it costs $11.99 per month after your first year.

It covers all the basics of identity theft protection, including monitoring for most major pieces of personal information like your name, birth date, and Social Security number.

Standard also comes with credit monitoring for Equifax, one of the three big credit bureaus that contribute to your credit score.

Also included is USPS address notifications – basically, you’ll need to clear any address change with LifeLock, or it’ll send out an alert that your personal information may be at risk.

What about reimbursement? If your identity is stolen, you’ll benefit from $25,000 of stolen funds reimbursement protection (think of it as a kind of insurance), as well as $25,000 of personal expense compensation.

An additional $1 million for lawyers and legal fee coverage is included, too. All in all, it’s great value for money.

LifeLock Select with Norton 360

LifeLock Select with Norton 360 costs $9.99 per month but quickly increases to $14.99 per month since, in addition to the basic features mentioned above, you’ll also get access to Norton antivirus security.

This includes both well-rounded digital security for your Internet browsing and downloads, as well as additional Norton, features like a password manager, cloud backup for sensitive data, and VPN (a virtual private network) browsing for up to five of your devices.

The VPN aspect will allow you to protect your identity when using public Wi-Fi networks by masking your IP address’s origin.

LifeLock Advantage with Norton 360

Next is LifeLock Advantage. In addition to the Norton security features, your reimbursement amount is increased up to $100,000.

You’ll also get new alerts for bank account and credit card activity. These scans will alert you if there is suspicious activity in either area. Furthermore, VPN and antivirus security expand to cover 10 devices in total instead of five.

All of these benefits come with an increased price of $19.99 per month for your first year and $24.99 per month for each month after that.

LifeLock Ultimate Plus

Last is LifeLock Ultimate Plus. It comes with Norton 360 as well, though the device limit of 10 stays the same.

More importantly, your reimbursement amounts are kicked up to $1 million. You’ll also get credit monitoring for all three major credit bureaus (Equifax, Experian, and TransUnion).

For those with significant money in their investment portfolios, you’ll appreciate the added investment monitoring feature that comes along with this package.

The cost is fairly high at $29.99 per month for the first year and $34.99 per month after that.

However, you also have the option to add minors to any of your plans for $5.99 per month. This is a unique inclusion of the LifeLock plans and can help your kids to remain safe online as they start to work jobs and open up credit cards.

Standout Features

LifeLock’s identity theft protection suite has a lot of standout features that really demonstrate its potential value. Let’s take a look at just a few.

  • LifeLock Insurance: No matter which plan you end up going with, LifeLock provides comprehensive identity theft protection insurance. This is coverage for any stolen funds or personal expenses. Amounts can range from $25,000 for Standard subscribers and up to $1 million for Ultimate subscribers.
  • LifeLock Reports: LifeLock’s Reports are another great aspect of this protection suite. Since the Advantage and Ultimate plans allow you access to your credit reports and score, you can easily monitor these 24/7. Plus, you have the option to get credit monitoring and annual reports from all three major bureaus if you want to keep a sharp eye on your credit score.
  • Alerts: LifeLock’s alerts come in three major types: email, phone, and text. Alerts are triggered by potentially suspicious activity like applications for new credit lines, changes of address, and whether any personal information about you is detected on the dark web. However, note that some events don’t trigger an alert, such as making changes to your account or adding authorized users.
  • Mobile App: LifeLock’s mobile app is a pretty good platform all in all. It’s totally free and is available to both iOS and Android users, plus it’s easy to download. The app allows you to receive alerts and notifications quickly and easily without having to reach your main computer. You can respond to any alerts immediately and start working on a solution if your identity is compromised in some way.
  • Customer Support: LifeLock also offers two main methods of customer support. The first is the Member Portal, which provides self-service support, such as answers to FAQs. You can alternatively contact LifeLock using their phone number at 1-800-4543-3562, which includes lines available 24/7. Should your identity be compromised, LifeLock will connect you to its Restoration Department so you can start rebuilding your finances and recovering your information.

Pros and Cons of LifeLock

Pros:

  • Credit monitoring available with all plans
  • Wide-ranging alerts that cover a variety of account changes/conditions
  • Good coverage for funds and recovery expenses
  • Easy way to bundle virus protection with identity theft protection

Cons:

  • Some of LifeLock’s services can be performed by yourself
  • LifeLock is a bit pricy compared to other identity protection services
  • Auto-renewal price upticks are annoying

Alternatives

While LifeLock is a comprehensive choice for identity theft protection, there are some alternatives you might consider.

#1. Identity Guard

Identity Guard doesn’t have as many services as LifeLock, but it does utilize AI technology to sift through dark web information and check certain sources for signs of identity theft. It’s also quite well known about the identity theft protection industry.

#2. Identity Force

Identity Force is a little pricier than LifeLock (for instance, their priciest plan is only for one person and costs $70.95 per month).

Furthermore, they charge extra for credit monitoring, whereas LifeLock adds this feature to all of its plans from the get-go.

#3. Experian Identity Works

Experian’s own identity theft monitoring plan offers credit monitoring from all three major bureaus and good ID theft insurance.

It may be a better choice if you need something cheaper since you can start with a free plan and give it a try before putting any money down.

Is LifeLock Safe?

Yes. LifeLock is a registered and regulated company with a long history of providing identity theft protection services.

Is LifeLock Worth It?

That depends on what you need. LifeLock can be a good choice if you don’t have the time or energy to constantly monitor your personal information and credit card accounts, as well as scan the dark web yourself for signs of your personal information being misused.

However, folks with higher-than-average digital literacy may be able to provide LifeLock’s major advantages by themselves through smart credit monitoring and regular banking alerts.

But you probably can’t give yourself the identity theft coverage or personal expense coverage included in these plans. In this aspect alone, LifeLock is worth it for many people.

Does LifeLock Offer Family Plans?

No. However, you can always add a LifeLock “Junior” plan for each child and your family after purchasing one of the regular plans.

Why Does Identity Theft Insurance Matter?

These days, we’re putting more and more of our personal information online. This makes it easy for would-be identity thieves to take that information and use it to sign up for credit cards, take out loans, or other nefarious purposes.

It’s tough to monitor your personal information, and it might get stolen at some point or another despite your best efforts.

Identity theft insurance can be helpful since it’ll reimburse you up to a certain amount if your bank account funds are withdrawn without your approval or lost in other ways.

Insurance can also help you pay for any legal services you may need to recover your finances or explain your situation to your banks.

Bottom Line: LifeLock Review

In the end, LifeLock is a solid, reasonably affordable monitoring package (at least for the first year of service).

While it won’t be for everyone, it is a solid identity theft monitoring and reimbursement option that can help you round out your digital protection when combined with the antivirus security provided by Norton.

Consider LifeLock if you want to make sure that your identity isn’t compromised and that you’re covered if there’s a problem with one of your accounts being used without your permission.

Drew Cheneler
Drew Cheneler
Drew is a recognized Credit, Small Business, and Personal Finance Expert. He has been quoted in CNBC, Fox Business News Section, The Huffington Post, Business.com, Moneyunder30, US Chamber of Commerce, and more. He is known for breaking down complex personal finance topics into action-oriented advice, so you can make the most of your hard-earned money.