Best Identity Theft Protection Services

It is time to protect yourself from identity theft. As we recently shared in an article, more than 33 percent of U.S. adults have experienced identity theft and more than one in four older adults, aged 55+, have experienced it.

Identity theft is real and is out there. Many who experience it are ashamed to admit it or don’t know who to report it to. We are here to tell you it is not your fault! The various schemes out there are meant to deceive you and your aging loved one. The most common schemes aging adults are susceptible to are:

• Medical identity theft
• Estate identity theft
• Tax fraud
• Phone scams
• Military identity theft
• Wire transfer fraud
• Familiar fraud

We will describe identity theft, what it is, how it happens, what to look out for, and more throughout this article. In addition, we have compiled the top 5 identity theft protection companies for you to choose from.

What is Identity Theft?

It may sound too basic but identity theft occurs when someone else uses your information without your permission. That is it! The seriousness and danger are what information they are able to obtain and what they use it for. For example, they could use your:

• name and address
• credit card account numbers
• bank account numbers
• Social Security Number (SSN)
• health insurance account numbers
• other financial & medical account numbers
• social media account information

The type of information thieves can find is unfortunately quite long because of our digital footprint. With that said, paper material and other accessible information are just as valuable to them (which we describe in a little more detail later).

The Different Types of Identity Theft

The most common type of identity theft is financial. The goal of financial identity theft is to use your information, in order to gain economically and financially (at your cost). Other common types include:

After reading this you may wonder why you should care if someone steals your identity or your aging loved ones? The most important takeaway is that when a criminal steals your identity in any of the ways listed above – you may still be responsible for paying the bills! This may be surprising but is the tough reality of identity theft and why it is so important to protect yourself from it.

Being responsible for paying the bill or debt owed in your name, even if you didn’t do it, can happen because (as an example):

• the criminal may have a credit card in your name
• the address on the card is changed
• the bills are sent to you but you never see them
• the credit card company enlists a collection agency
• your credit is immediately damaged as a result and
• your name is tied to the debt, not the criminals

This tough reality can cause significant stress on you and your loved ones. Even if and when you resolve the debt issues it can take time for the company or federal (or state) governments to update the records creating years of trouble.

What Can the Criminal Do with Your Personal Information?

The criminal’s goal is to use your information to get what they want (most commonly for financial gain). With your personal information (name, address, SSN, etc.) the identity thief could:

• Get many new credit cards
• Purchase large and small items across multiplate credit cards
• Open a utility account (electricity, gas or electric)
• Get medical care
• Lease an apartment
• Steal your tax refund

This list is not exhaustive but reflects the many ways your identity can be used and how the thief can do so. Consider how fast it was for you to get your last credit card – with your basic information the same can be done online without you knowing.

How Does Your Identity Get Stolen?

Your personal information is all that the identity thief is after (physically or online). For example, a few ways a criminal may steal your identity include:

• Trick your aging loved one to send personal information in an email
• Find account numbers or SSN information in the garbage or mail
• Steal your wallet, license, or other identification

These tricks are how criminals have stolen millions of identities. Think about how quickly you may share your email, address and even your SSN? It is common to share on applications or forms we submit (paper or online).

How to Protect Your Aging Loved One from Identity Theft

You can take action right now to protect yourself from identity theft

• Select one of the Top 5 Identity Theft protection services summarized below.
• Do not share your SSN unless on required medical or government forms
• Pay attention to your credit card statements
• Check your credit score regularly
• Use more complex passwords
• Maintain security software on your computer

The Best (Top 5) Identity Theft Protection Services

To protect yourself and your aging loved one our #1 recommendation is to get identity theft protection services. We have compiled the Top 5 Best protection services and companies for you to choose the best option that fits your needs and budget. The small investment today will likely save you money, time, and stress in years to come.

The list below is based on researching the best companies for you based on services offered, price, and customer ratings. In addition, each of the 5 listed below is also vetted by reputable news and consumer report sources include NerdWallet, CNET, Forbes, TechRadar, and Money.com.

Check out each of the 5 companies listed below to find the right identity protection services that fit your needs.

What Identity Theft Protection Companies Offer

The three main services offered by the best identity theft companies are: Monitoring, Alerts and Recovery.

Monitoring your credit files is essential to seeing any new accounts in your name or credit inquiries. If there is any activity you will receive an alert. The Alerts occur for any instance when your personal information is used for bank accounts or other like activity. Recovering your lost money and damage to your credit is not easy but these companies offer policies up to $1 million.

Consider these key services as you evaluate each of the top 5 below. The theft protection is primarily divided into monitoring your credit and your identity. In addition, create a scorecard to help you evaluate the best option for you including:

1. What is the price I am willing to pay for these services?
2. What services are most important to me?
3. How long has this company been around?
4. What additional features does this company offer?
5. Is your credit monitored at all 3-credit bureaus?

Identity Guard

For over 20 years, protecting consumers’ identities has been Identity Guard’s number one priority. They have partnered with some of the biggest names in the financial industry, protecting more than 47 million customers and resolving 140 thousand cases of identity fraud. As the threat of identity theft has grown – and the customers’ needs have changed – Identity Guard stayed ahead of the curve. Today, their award-winning services offer comprehensive solutions that extend beyond the basics - they also help protect your financial information‚ personal data‚ computer, privacy, and much more. Identity Guard's website has been recognized in the Online Trust Audit and Honor Roll by the Online Trust Alliance six years in a row for implementing the best practices in data security and privacy.