Thieves use a variety of ways to get your personal information. It does not matter what we do in order to protect ourselves, they still seem to find a way to get it. We always want to be sure we can protect both ourselves and our families, and the best way for us to do
Thieves use a variety of ways to get your personal information. It does not matter what we do in order to protect ourselves, they still seem to find a way to get it. We always want to be sure we can protect both ourselves and our families, and the best way for us to do this is to practice awareness. There really is no way for any company to follow through with the promise they can give you 100 percent protection from identity theft.
Why Are Identity Theft Protection Plans Not Able To Fully Protect Against Identity Theft?
Thieves can so quickly find your information and take the money or credit they need. This makes it difficult for any company to keep up with and be able to give 100 percent protection against identity theft. Another issue that these companies come across are the different ways that a thief will use your personal information. Not only will they use it for credit, but there are five different areas of identity theft fraud. This makes it difficult to find the thief and the method they are using.
So, Are Identity Theft Protect Plans a Ripoff: The Truth About These Plans
What do these protection plans do if they cannot 100% prevent Identity Theft? Protection plans do have a purpose even if they do not give you 100 percent protection. Some of these plans will give you the insurance you need if you were to ever become a victim of identity theft. It is similar to having insurance, but it does not cost as much. If you were to ever become a victim of identity theft and have your personal information stolen, you will be reimbursed for everything you lost with some plans. Other plans will reimburse you a portion of what you lost. This is extremely important because of the amount of money a thief may steal. They will typically work to take all of the money from you they can. This may leave you without the means to be able to correct any losses you incurred from the identity theft. Having the insurance will make sure you are at least covered for what you had stolen.
Some of the plans out there will also offer credit monitoring. This is the reason they will tell you they can prevent some identity theft. Credit monitoring allows them to watch the activity of your accounts and ensure that nothing suspicious occurs. If anything suspicious shows up on your account, they will report the activity to you. You can then verify whether or not you have opened the accounts or purchased the items on credit. When your credit is being monitored, you can quickly notify the authorities and your credit agencies. It gives you the opportunity to stop the thief before they can cause too many issues.
Problems To Be Aware Of With Some Protection Plans
1. Often protection plans will include some type of credit monitoring, but what happens if a thief commits fraud within any of the other four areas of identity theft instead of credit? Often times you will not be protected with the wrong plan. Be sure to be aware of all the protection plan offers.
2. Many protection plans will reimburse you for money you lose if you become a victim of identity theft. But the question of how much is where the problem lies. There are some plans that will only reimburse you for a portion of the money that you have lost.
3. Some protection plans have a system called Fraud Alerts. They will alert you to any potential fraud. Fraud does not always happen financially, so this is a great thing to have. The problem though is that some companies will claim they offer this, but they really do not. The system also may not be a good one and will not inform you of all forms of fraud. Be sure to get details of all this entails with each company you approach.
4. If you ever become a victim of identity theft, it could take years in order to get your identity back and clear up all of the issues that were caused by the thief. Many plans will tell you that they will help you clear everything up, but this is not always the case. Some companies will have in their fine print that they will guide you through the process or will give you assistance with all of the phone calls that you will need to make. This tells you that will have someone point you in the direction of what to do but will not actually do the work. All of the information they will give you can be found on your own as well.
5. Although it may seem odd, children under the age of 18 are the greatest at risk of becoming a victim of identity theft. The problem with the protection plans is that they will not monitor children.
Identity theft affects over ten million Americans every year. With the risk that all of us face, it is important to ensure that we are aware of them and the best ways to protect ourselves. It is important to have an Identity Theft Protection plan that has everything you need in order to protect your family from this threat.
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