Offers the most comprehensive identity theft protection and assistance. Has many more features than Experian.
An excellent service provider with many features. Equifax offers very low pricing for the number of services you receive.
Modern life is tied to our electronics and our information. Our information is linked to our ability to borrow, and we need it to access our financial accounts and records. In recent years, credit has become more than the ability to borrow. It’s now an essential part of modern life. Your credit score enables you to finance a new phone, set up your home’s utilities, or rent an apartment.
The importance of credit makes our identities and information natural targets of thieves. Therefore, it is imperative to have someone monitoring your identity and information. In LifeLock vs. Equifax, we’ll compare two top companies and help you determine who has the best protection for you and your family.
LifeLock vs. Equifax: Comparison
WHAT YOU GET | LIFELOCK | EQUIFAX |
|---|---|---|
Pricing | ||
Coverage | ||
Funds Replacement and Insurance | ||
Identity Theft and SSN Alerts | ||
ID Recovery/Monitoring | ||
Financial Account Monitoring | ||
Credit Monitoring | ||
Cyber Security | ||
Latest Offer |
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Similarities
Differences
LifeLock Features and Services
Coverage
LifeLock provides coverage per individual. For families, this means that each adult and child needs to have their own plans. It seems expensive to purchase this much coverage, but it ensures that all members of your family receive the same amount of coverage.
For example, if you and your partner’s identities are stolen, each one of you has $1 million in lawyer and expert fees instead of splitting the fees up. You are each covered for up to $1 million in stolen funds (under the Ultimate Plus package).
Funds Replacement, Insurance, Credit
Each person has their own plan. Each individual is eligible for stolen funds insurance between $25,000 and $1 million, depending on their package. To receive any amounts, you have to have sought reimbursement from your financial institution first.
LifeLock lets you choose 1 of the 3 credit bureaus to use to monitor your credit file and sends you alerts if there is activity on your file, which is where your credit scores come from. You can only check your credit score without affecting it once a month with the Ultimate Plus Package.
ID Theft, Recovery, and Monitoring
Your identity and Social Security number are monitored to receive a notification and take action when used. If your identity is stolen, LifeLock provides each US-based member with identity restoration experts that guide them through the process of restoring their identity.
Plans and Pricing
Standard
The Standard plan is very basic. You pay $11.99 per month and receive 1-bureau LifeLock credit monitoring and identity and Social Security number alerts.
Select
Under the Select plan, 2 additional features are added at the cost of $24.99. You’ll receive security for up to 5 devices such as phones, tablets, or computers and a subscription to a virtual private network (VPN) for those devices.
Advantage
The Advantage plan is where the most beneficial features are added, but they will cost you $34.99. LifeLock watches the bank account and credit card for action, and you’ll receive notifications when there are transactions made so that you’re aware of them.
Ultimate Plus
The Ultimate Plus gives you the most protection by adding more features: Unlimited devices, VPN, and antivirus security. You’ll be able to receive an annual 3-bureau credit report with your credit score and receive alerts if your investment accounts or home title are accessed.
Pros and Cons
PROS
CONS
More on LifeLock customer services
Competitors: IDNotify vs LifeLock Compared to other providers
Equifax Features and Services
Coverage
Equifax has a comprehensive coverage plan. You can add one additional adult on the premier plan without a change of rates, and the Equifax Family Plan lets you add another adult and up to four children. A 6-person family is quite large by modern standards, and other identity monitoring providers charge much more for additional coverage needed by families.
Funds Replacement, Insurance, Credit
In all of their packages, Equifax covers up to $1 million in stolen funds. One caveat to this is that this amount is based on funds that are unrecovered by your financial institution. Equifax identity theft insurance covers out-of-pocket expenses such as a lawyer or expert consulting fees that arise from restoring your identity or dealing with the theft.
Your credit file from all 3 bureaus is monitored for activity, and your credit score from Equifax is as well. Any attempts to access your credit or score change results in an alert being sent to you.
ID Theft, Recovery, and Monitoring
If your identity is stolen while you have a subscription, Equifax provides ID restoration experts to help you recover your identity and assets. The internet and the dark web are scanned for your name, Social Security number, or other personally identifiable information. If your data is found anywhere, you receive notices so that you can take action.
Pricing and Plans
ID Patrol
This is the most basic of the Equifax packages but provides monitoring close to everything a single person might need to have monitored. This plan runs $16.95 per month and gives you identity theft insurance of up to $1 million for stolen funds and costs incurred to deal with a theft.
Premier
The middle of Equifax’s packages is the Premier plan, which is $19.95 per month and includes all of the family plan features except for adding a second adult or children. The included features make this one of the most attractive packages for singles.
Experian Family Plan
The Experian Family Plan costs $19.95 and adds the option of including an additional adult and up to four children.
Pros and Cons
PROS
CONS
Conclusion
Identity theft protection services do not stop identity theft from occurring. The most important function these services provide is an alert when any monitored accounts or information are found to have suspicious activity. The services you pay for allow you to investigate and take quick action when you receive an alert.
It is nearly impossible to monitor all of your information and accounts by yourself. This is the service that LifeLock provides — one that looks out for you when you’re shopping online and using paperless banking services. Unless you are a computer expert, it is nearly impossible to know where to search on the dark web for your stolen information. LifeLock does it for you to give you and your loved one’s peace of mind.
Of these two providers, LifeLock has taken more steps to ensure that your information and accounts receive the most scrutiny. Their services provide you with the most comprehensive identity monitoring assistance between the two companies.
While LifeLock is more expensive than Equifax, the assistance you receive is well worth the additional cost. You don’t have to split benefits between family members, and you can add as many as you want to your plan.
If you’re looking for identity theft protection and assistance services, LifeLock identity theft protection helps you keep your family safe.
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