LifeLock vs. Family Secure

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An increasingly disturbing trend in identity theft is stealing the identity of children. For parents, this is a scary reality, but steps can be taken to protect your children’s identity from predators. LifeLock and Family Secure both offer ways to protect children’s identities.

The Facts About Stealing Children’s Identities

According to LifeLock, 500,000 cases of identity theft involving children are reported annually, which takes up 5 percent of identity theft cases reported. Since children, in general, have no credit history and are usually not monitored, they make convenient targets for thieves wanting to open bank accounts, credit cards and even apply for jobs and avoid paying taxes. When this is done in your child’s name, it can ruin their credit before it even begins and make it difficult to obtain a driver’s license, loans and credit cards once they reach the appropriate age. Your child could even find his name on an arrest warrant due to identity theft.

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About Family Secure: Will They Secure Your Family?

Family Secure focuses on keeping children’s identities safe and where they belong: with your children. Family Secure will monitor and alert you if someone tries to get a bank account or credit card opened in your child’s name. Family Secure will also make sure no credit file exists in your child’s name. If your child does become a victim of identity theft, Family Secure’s fraud resolution specialists will assist you and you can take advantage of their $2 million guarantee, which reimburses you for “certain expenses” if your child is victimized.

For parents, Family Secure offers to monitor your Experian credit score daily to ensure that your identity remains in your hands. If your credit card report changes in a suspicious way, they will alert your via email to this fact. Family Secure also offers you unlimited access to your Experian credit reports and scores so that you can stay on top of your credit score personally, if you wish.

LifeLock: The Comprehensive Solution to Identity Theft

LifeLock is a leader in protecting both adults and children from the perils of identity theft. If you suspect your child has been a victim or will be a victim of identity theft, add your child to your LifeLock account and LifeLock will have a fraud alert put on your child’s credit file. In the instance where a credit file is found due to the fraud alert, LifeLock will keep the fraud alert active by renewing it every 3 months. If no credit file is found on your child, then LifeLock will check your child’s file every 6 months to make sure their identity remains safe.

The reason LifeLock’s policy of using fraud alerts is so effective, is that it forces creditors to take extra steps to verify that person’s identity before allowing new accounts to be opened in that person’s name. This can really discourage someone trying to steal your identity because the thief usually won’t have the credentials to steal your identity.

Although Family Secure will monitor your children’s credit reports for suspicious activity, they don’t mention anything about placing fraud alerts on your children’s credit files like LifeLock will. Family Secure will also monitor parents’ credit reports and scores, but monitoring will report instances of potential fraud instead of taking steps to prevent that fraud from happening. If you’re looking for identity theft prevention, then LifeLock is your best answer.

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