Trusted ID Theft Protection – Is It Worth Your Money?

trustedID

Most people take their online security for granted.

They’re either too lazy to act or don’t consider how grave of a threat it is to them and their loved ones.

Maybe you’re one of these people.

If that’s the case then you are a sitting duck. It’s not a question of if anymore. It’s only a matter of time before someone swoops in and leaves a huge dent in your credit or your bank account.

A lot of people are finding it the hard way these days as identity theft and online fraud stats have recently gone through the roof. Hackers are getting smarter and more persistent by the day and your average antivirus software won’t last very long.   

Here’s the bottom-line.

It’s about time you took decisive action about your online privacy and security.

To start off, subscribe to a decent online ID protection service. 

Let’s take a closer look at identity theft and whyyou must put your online security under the microscope. You will also find a hands-on review of a well-known identity protection service called Trusted ID.      

7.6
ProtectionRating

Customer Service

8

Ease of Use

7.5

Value

7.3

Features & Services

7.6

All About Identity Theft

What Is It?

Put simply, unauthorized access to your private information or financial and legal records comes under identity theft. We’ve said it before and we’ll say it again – caution is your best defense. Because when a breach occurs it’s very challenging to restore order – not to mention the steep financial and psychological cost you’ll have to pay.       

How Identify Theft Can Affect You And Why Identity Protection Is A Must?

To start off, you could be left with a very slim bank account. People end up losing millions to such breaches. Even more alarming is the fact that stolen identities are easily available over the dark web. So don’t be surprised if you find your name associated with an illegal activity after experiencing identity theft. Not only that, it puts your entire family in grave danger.  

These are just a few compelling reasons why you need subscribe to a decent identity protection service. And don’t make the mistake of evaluating it only on the basis of price. It will offer you much more in terms of round the clock protection and peace of mind than the nominal monthly fee. 

Here’s how it’ll make your digital life a lot easier and safer.   

  1. 24-7 Security: You can rest assured that every bit of your personal and financial data will be under constant surveillance.   
  2. Prompt Alerts: Signing up for an ID protection service gives you the ability to respond immediately in case of a breach. This could make a huge difference in damage reduction. 
  3. Financial restoration: The immediate aftermath of an identity hack or financial fraud is quite traumatic and has the potential to push you to financial ruin. This is where ID protection will act as a vital lifeline. Depending on the plan, you’ll be eligible for an ID theft insurance cover of up to $1 million.

Here’s How You Can Choose The Best Identity Protection Service

    Keep the following pointers in mind to choose a service that matches your needs.

  • Consider several services: Casting a wider net will give you the best chance of finding a service that matches your needs. Comparing the top 5 ID protection services is a good start to kick off your search. 
  • Reviews matter: Most people don’t bother to conduct thorough research. Don’t be one of them. Going through customer reviews can save you from a major headache down the road. 
  • Clarity: It’s common to have questions about such services. Ask questions and voice your concerns. If they are evading your questions then you should move onto the next option.

Is Trusted ID Good Enough To Keep You Safe?

Let’s take a closer look at its origins and what it offers in terms of key security features.

What Is Equifax Trusted ID?

Most people are familiar with Equifax as one of the “big three” consumer credit agencies. Trusted ID is an ID theft protection service offered by Equifax. The service gained quite a bit of momentum when Equifax offered it for free to its members after a major data breach in 2017. However, the company ended the free sign-up facility by early 2018.       

Features

Here’s a list of features you’ll have access to after you sign up with the service:

$1 million identity theft insurance: Trusted ID easily matches the other industry players when it comes to offering insurance cover. You will be eligible for up to $1 million in case you suffer financial loss due to identity theft.    

Equifax credit report: The service makes it easy for you to keep a close eye on your credit health as you will have unrestricted access to your Equifax credit report

Three bureau monitoring: They also offer an additional layer of credit protection by constantly monitoring your credit reports from the other two major consumer credit agencies – Experian and TransUnion.   

Equifax credit report lock: This is another unique and equally useful security that you won’t find with other ID protection services. It allows you to easily restrict access to your credit information by letting you lock your credit report.     

Social security number surveillance: Social security is one of the most common avenues for identity and financial fraud. Trusted ID offers round the clock surveillance of your SSN to ensure safety.    

Lost wallet assistance: Canceling your credit cards can be a real hassle if you end up losing your wallet. Equifax makes the entire card cancellation process easy and quick.  

Prompt alerts: Your bank accounts and credit card activity will be under constant surveillance. You will be immediately alerted in case there is an attempt to access your bank accounts without your knowledge. You can add up to 5 bank accounts and 6 credit cards for monitoring.

Moreover, you will get email and text notification for activities such as new bank accounts, credit report inquiries, changes to address, and public records.

Internet surveillance: Trusted ID will also constantly monitor the internet and the dark web to make sure that your personal and financial information isn’t up for sale.     

Plans & Pricing

There is some confusion regarding Trusted ID’s current plan offering. As we mentioned earlier that free signups were offered till early 2018. As of now, there are no plan details on their official website. However, a few online reviews have shared the plan details – which you will find below.

IDEssentials Individual: The individual plan will run you a monthly bill of $13.49 and if you pay upfront for the year, it will cost you $125. That’s almost a 23% discount. The plan offers $1 million insurance cover, credit reports from all 3 agencies, medical record surveillance, antivirus software, internet, and dark web surveillance and you can also lock your credit reports.     

IDEssentials Family: The family plan will cost you $25.19 per month and allows you to add 6 family members. You will have access to all the features offered in the individual including the $1 million insurance cover. The annual family plan will cost you $240 netting you approximately a 21% discount.    

Trusted ID Pros & Cons

Pros

  • You will be eligible for up to $1 million in case you suffer financial loss due to identity theft.    
  • It provides you access to credit reports from all 3 major credit agencies.
  • It’s very easy to use with a pretty short learning curve. With its uncomplicated dashboard, you will have easy access to all your key security metrics and reports.
  • Trusted ID also offers a user-friendly mobile app, which allows you to easily monitor your online security on the go.
  • You will have round the clock access to customer service.    

Cons

  • It doesn’t monitor your social media profiles.
  • You will not be offered a dedicated case officer if identity theft occurs.
  • You will not be able to grant limited power of attorney to Trusted ID if identity theft occurs. This makes the restoration process lengthy and complicated.    

Conclusion – Yay Or Nay?

There are two ways to look at it. If you were lucky enough to register yourself for free then it’s great value especially when you add in the $1 million insurance coverage.

If you compare the service’s paid plans to some of the other options, it’s easy to see that Trusted ID doesn’t exactly match up. There are services out there whose entry-level plans offer a much larger security feature list for under $10.  So in essence, Trusted ID falls short if you’re on the hunt for a decent paid ID security service.  

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