A Look At Lifelock’s Guarantee
Research completed by market research companies have shown the destructive nature of identity fraud. Their Surveys show that this crime is the fastest growing crime in North America and that the number of identity theft victims is about 10 million per year. That is why the Identity Theft Resource Center tell you to start an identity protection plan.
One such identity theft protection company, Life Lock, guarantees to protect your name and money. Besides the regular benefits that LifeLock offers such as placing fraud alerts, Walletlock, eRecon, True Address, reducing junk mail, free credit reports, etc., it also has a one million dollar service guarantee to protect its clients. You can learn all about Lifelock’s services by reading this Lifelock Review, this is about their service guarantee.
The service guarantee is simple, but somewhat limited. The company pays up to one million dollars in order to deal with the failure or defect of the identity protection plan. This amount of money is given per client, per lifetime for all total incidents no matter the circumstances. The guarantee does not include everything. Their guarantee does not reimburse special, incidental, indirect or consequential damages like lost wages, lost profits, or lost opportunities. Their guarantee supports 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. In case you are a member and a criminal accesses your private records to commit identity theft, the company will pay professionals to restore your reputation and credit and will cover all losses and expenses. Members of LifeLock must be upfront and truthful and tell them that their private information was used to commit identity theft within 30 days of finding out.
The company will be in charge of remediating all damage caused as the result of failure in their service. However, they will arrange and cover the expenses of related professionals who can legally operate in the jurisdiction of the place where the issue happened. If the total loss is over $1 Million, Life Lock will only pay one million dollars. If after an investigation by LifeLock they agree that your information was used without your permission to commit an illegal act, LifeLock will perform as described in the $1 million guarantee. However, if the identity protection company, notices intentionally misrepresented damages or an attempt to deceive in which the client was involved, they will be required to pay back upon demand everything Lifelock has paid for the legal defense, including any other cost the company incurred.
If you would like an enhanced understanding of their terms of service I advise you to consult with a lawyer. Do not consider this as legal advice nor a recommendation for or against Life Lock’s guarantee or service. An identity theft protection service guarantees its offer for a reason so I tried to share my understanding of it for you. Please protect yourself from identity theft.