Company Promises Identity Theft Protection

An Arizona-based company called LifeLock is marketing itself as a one-stop identity protection business – and promises that it can virtually stop identity theft before it happens.

How?  The company watches all the major credit reporting agencies for your accounts, and puts fraud alerts, when necessary, on your credit reports on an ongoing basis.  Each time someone attempts to open credit, change an address or tries to make changes to bank accounts — LifeLock checks to see if the right person is making the request.

LifeLock backs up its promise with this statement: "If you’re identity is ever stolen while you are our client, we will fix the problem, repair your credit and replace every dime you lost from the theft up to $1 million dollars."  LifeLock’s CEO, Todd Davis, even tries to up the ante by putting his social security number in the company ads.

The service – available for both children and adults – runs at $10 per month ($2.50 per month for children) or $110 per year ($25 for children).