Recently I wrote an article titled Is Lifelock Worth It, and in that article talked about all the things I had learned from owning that product.  I also did a full on review of the product after signing up with it.  In those two articles I covered all the benefits, details, and what I even learned from owning the product after several months.  However in this article I’m going cover how much does Lifelock cost?

I’m also going to talk about the real question why people don’t buy identity theft protection and the one  thing that even stopped me from buying it, the cost. On top of that I’m not  only going to show you how much it will cost for you to buy Lifelock but your entire family including your children, and on top of that show how you can even save a few bucks in the process.

LifelockPicture (1)How Does Lifelock Cost?

So how much does Lifelock cost?  To start here is a simple break down of the cost to get Lifelock.

  • LifeLock ULTIMATE.  This the flagship product which includes all the bells an whistles and starts at $25 a month.
  • Lifelock Basic.  This is a more striped down version of the Ultimate product but still does a lot of the same job and starts at only $10 a month.
  • Lifelock For Children.  This a very basic version that monitors for any activity on your child’s name and social security number for $2.25 a month.

Promo Codes, Discounts, and Coupons Oh My!

Now you might be wondering what kind of discounts, promo codes, and coupons might be available to help you save a little money, and as long as I’ve had this product and been promoting it I’ve seen two basic types of promotions on this product.

  • 10% off and 30 Days Free – The first discount I’ve seen the most is 10% off which usually only applies to Lifelock Basic or Ultimate.  On top of that I’ve also seen them add 30 days free. With this  it would cut $2.50 of the cost of LifeLock ULTIMATE.
  • 15% off –  The second discount I see them offer but not nearly as much is the 15% off lifelock coupon.  With this coupon it would cut $3.75 off the cost of Lifelock Ultimate.

Finally, one last thing I should mention that I feel a lot people get confused is that the discount stays in effect for as long as you own the product.  So if you get the 10% or 15% discounts you will continue to get that each and every month until you discontinue the service.

Why I Didn’t Buy Lifelock At First

I guess the big reason I pulled away from buying Lifelock at first was I felt that it was just another expense that I didn’t need to deal with.  I thought their is no way someone could steel my identity.  I don’t give out my social security number, back account info, or even my date of birth, to anyone willingly.  Then one day that all changed for me.

My sister was checking out at Walmart as usual and noticed the person behind her was usually close.  A half hour later she received a call from her credit card company that someone had used her card to buy things that were very unusual.  On top of that these items were being bought from all over the world from Norway to Las Vegas which instantly threw a red flag with here credit card company.

Luckily for her the person was caught that stole her number in Walmart and all the transactions were reversed, but it could have been far worse.  For example, what if that person had been able to open a new card in her name, they could have gone undetected for months and she could have been stuck with the bill in the end.

After that indecent it opened my eyes to the fact that it doesn’t take much for someone to steel your identity and mess up your financial situation real fast.

How I Set Lifelock Up For My Family

Originally, when I signed up for Lifelock I had only planned for me to have the coverage.  Overtime though I received several notices of possible situations of someone trying to steal my identity.  This got me concerned, if this many attempts have been made on my identity, how many were their on my wife or kids?

When I started looking into Lifelocks cost just to add my kids it would be only $6.75 a month, a no brainier if you ask me.    On top of that if you’ve read my article on child identity theft, a child’s identity is actually very vulnerable and for just a few bucks a month I can protect them.

Now as far as the cost goes to add my wife to the plan you don’t need to have the Lifelock Ultimate in this case because I already have the majority of are accounts covered under my account so I signed her up for Lifelock Basic for $10 a month.

So in all I got Life Ultimate for me with a 10% discount promo code for $22.50, added my three kids for $6.75 a month, and my wife for $10 a month for a grand total of  $39.25 a month.  Not bad, and if you really wanted to save even more you could do a $10 a month plan on your spouse and you to save even more.

But I Can Get Credit Monitoring For Free

Now I know some people might be saying that they can get credit monitoring for free from their homeowners insurance policy, credit card companies, and places like Credit Karma, but the question is are they really that good?

Well let’s start with credit cards.  Most credit card companies do offer great protection against credit card fraud.  In fact I recently bought some stuff out of the norm with my credit cards and within 15 minutes they had me on the phone to confirm the transactions.

However, credit card companies are not out to protect your identity but rather someone misusing your card. If someone steals you identity and then proceeds to drain your bank accounts your credit card companies are not going to do anything to for-warn you of this.

Secondly, you have your homeowners insurance.  I’ve only recently heard of people using this as a means to protect your identity so I would be curious to see how much protection they really offer and what kind of monitoring they actually do because my guess is that they don’t, but rather may help in the event you want to file a claim.

Finally, you have Credit Karma.  When I first heard they were offering a free credit monitoring service I signed up for it even as a member of Lifelock just to compare the two services.  What I found out was that Credit Karma did not send out nearly as many alerts that Lifelock did and on top of that Credit Karma’s alert usually showed up a few days after I had already received an alert from Lifelock.  Now I’m not saying Credit Karma is a bad service by any means but if you are looking for a free service to get you by for the meantime it is a good alternative.

I should also mention that Credit Karma is only monitoring your credit whereas Lifelock is monitoring several different places from your credit report to payday loan stores, and everything else in between.

Is Lifelock Worth The Cost

In the end identity thieves will do anything to get a hold of your identity and more than likely at some point in your life your identity may be stolen, so take some time now to protect your identity before it falls in the wrong hands.

Sign up for LifeLock today and get your first 30 days FREE and save 15% off your final purchase! Expires April 15th.

 

About Christopher

Chris is a personal finance blogger with Stumble Forward helping people avoid life's financial mistakes and live a higher quality financial life.

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Comments

  1. I had never heard of Lifelock. I am terrified of someone stealing my identity. I have taken most of the necessary precautions but you just never know. It’s definitely something to look into.

  2. Christopher says:

    I’ve taken a lot of precautions as well with my identity but you never know when identity theft will strike. As far a Lifelock goes it’s a great program and has kept me up to date on things going on with my identity. Thanks for the comment Holly.

  3. I think your article is a good reminder to “watch out” for people behind you when you shop. Always use your back to cover the person behind you and cusp your hand when putting in that PIN number.

  4. Christopher says:

    People standing behind me in line when I use my credit card can be scary but what’s even worse is giving your card to a waitress at a restaurant and not know what they could do with it. That’s why I always try to pay with cash when possible. Thanks for the comment Brian, I really appreciate it.

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