Do You Really Need Identity Theft Protection Or Is It A Waste Of Money,

I see a ton of articles that say identity theft protection is not something you really need. These articles have titles like “ID Theft Protection Does Not Work,” or “The Poor Man’s Guide to ID Theft Protection.” Though some of these articles have a bit of merit, they totally miss the point.

Here’s the deal - You can’t protect yourself from every type of ID theft out there, and the types you can protect yourself against require a ton of focus. One way or the other, it will cost you money, time, and probably a bit of anxiety too. Those who have elected not to invest in ID theft protection say they don’t need to pay for a service that they can take care of on their own. Dispose of Their Mail, Securely - One thing that people do to protect their identity is to shred all of their mail.

This is especially the case when it contains account information. However, this isn’t enough. Though you might do your part, there is no guarantee that your bank, mortgage company, or even electrical provider won’t toss paperwork with your information into a dumpster. At that point, it’s free for the taking.

Opt Out of Preapproved Credit Card Offers and Junk Mail - Yes, this is good advice. However, keep in mind that even if you do this, you will still get some offers. Get a P.O. Box - I’m not sure why people think that getting and using a P.O. Yes, this is a more secure way of getting your mail and in some cases will protect sensitive data. Unfortunately, this doesn’t help much.

Check Their Credit Report - Yes, you should always check your credit report. But, people who believe that checking their credit report can stop ID theft are mistaken. Checking a credit report does not proactively protect your identity. Set Up Fraud Alerts - People also set up fraud alerts and think they are fully protected from ID theft.

Again, fraud alerts are great, but they expire after 90 days, and most people forget to renew the service. Additionally, these are only a guideline for your creditors, and they are not required to contact you if they issue credit. Freeze Their Credit - These people also freeze their credit.

This is a good thing to do, and I think it is fundamental to protecting your identity, but again, it doesn’t help to protect your ID from tax-related identity theft, criminal identity theft, account takeover or medical identity theft. All of these things help, and are necessary in addition to a Protection Service, but people who stick with these and don’t get full service identity theft protection are putting themselves in a precarious position. Instead, it’s best to get a professional product, which offers better protection.

Upon maturity, the holder of the policy starts receiving the returns for the policy. The returns, in maximum cases, are diminishing in nature. What to Look for, The next thing that you must check out is the coverage of the policy. There are many minor details regarding the coverage that are included on the quote of the policy.

Some policies cover almost all missed payments. Some of them cover missed payments as a result of medical emergencies. On the other hand, there are also policies such as the mortgage protection life insurance, where the installments are payable upon the death of the policy holder. Lastly, check the returns of the policy. In many cases, they will come in after a long period of time, but will be certainly satisfactory.

Legislators in Washington, D.C. The Fair and Accurate Credit Transaction Act of 2003 (H.R. If approved, consumers could benefit from the most wide-ranging changes to the rules covering consumers and credit in decades. One of the most important changes would be the right to receive a free annual copy of your credit report, upon request, from the three major credit reporting agencies: Equifax, TransUnion and Experian. Currently only six U.S.