LifeLock Enhances Identity Protection for the Enrolled Employee
25 Enero 2017 - 8:00AM
Business Wire
Identity Theft Protection, Available
Exclusively Through the Benefits Channel, Helps Employees Protect
Their Retirement Savings With More Tools to Manage Their
Identities
LifeLock, Inc. (NYSE: LOCK), an industry leader in proactive
identity theft protection, announced the newest features of
LifeLock Benefit Elite™, identity theft protection designed
specifically for employers and brokers to offer as a benefit for
employees. With these enhancements, employers are able to offer an
even more comprehensive benefits package to attract and retain
top-quality talent.
Available only through employers, LifeLock Benefit Elite is
available for employees at a competitive price with easy enrollment
and convenient payroll deduction, paid for either by the employer
or as a voluntary benefit. LifeLock Benefit Elite helps detect
potential fraud† and brings it to the attention of enrolled
employees through alerts via email, text or phone. In addition to
helping protect 401(k) and other investment accounts from
fraudulent withdrawals and balance transfers, Benefit Elite’s new
features include:
- Checking, Savings and Credit Card
Account Activity Alerts – These alerts allow members to manage
credit card, checking and savings account activity in one secure
place and receive alerts for cash withdrawals, balance transfers
and large purchases to help detect fraudulent activity.†
- LifeLock Privacy Monitor™ Tool –
The LifeLock Privacy Monitor tool helps reduce public exposure of
personal information to help keep private information such as name,
birthdate, and address private.
- Stolen Funds Reimbursement – If
a LifeLock member does become a victim of identity theft, LifeLock
protects their hard earned money with dollar for dollar
reimbursement for lost funds up to $1 million for Benefit Elite
membership. This includes everything from fraudulent bank and
investment account withdrawals to fraudulently filed tax
returns.
Identity theft is a serious problem for many consumers with a
new identity fraud victim every two seconds. A study by Javelin
Strategy & Research found that fraudsters stole $15 billion
from 13.1 million U.S. consumers in 2015.1 Employers, recognizing
the problem, are adopting identity protection as a core benefit for
the workplace. To that end, a recent study showed that nearly 70
percent of employers are projected to offer identity theft
protection as a voluntary benefit by 2018.2
“With seemingly endless data breaches in the news, people are
concerned about identity fraud,” said Terry Reams, general manager
of employee benefit protection solutions at LifeLock. “For
employees, this is especially worrisome when it comes to getting
protection for their retirement and investment accounts. That’s why
we’ve tailored Benefit Elite identity protection to meet their
unique needs.”
Reams continued: “LifeLock Benefit Elite differentiates
employers’ benefit offerings by providing identity theft protection
as an employee benefit and may help reduce employee time-off and
distractions while helping to mitigate employer risk.”
LifeLock searches millions of transactions per second for
potential threats to its members’ personal identity, including
suspicious uses of name, address, phone number, birth date, and
Social Security number to obtain loans, credit and services, or to
commit crimes. If an employee becomes a victim of identity theft
while a LifeLock member, LifeLock will spend up to $1 million, if
necessary, to hire the necessary lawyers, accountants and
investigators to help with recovery. The benefits under the Service
Guarantee are provided under a Master Insurance Policy underwritten
by State National Insurance Company. ‡ As this is only a summary
policy the terms and restrictions can be found at
LifeLock.com/legal.
About LifeLock
LifeLock, Inc. (NYSE: LOCK) is a leading
provider of proactive identity theft protection services for
consumers and consumer risk management services for enterprises.
LifeLock’s threat detection, proactive identity alerts, and
comprehensive remediation services help provide peace of mind for
consumers amid the growing threat of identity theft. Leveraging
unique data, science and patented technology from ID Analytics,
LLC, a wholly owned subsidiary, LifeLock offers identity theft
protection that goes significantly beyond credit monitoring. As
part of its commitment to help fight identity theft, LifeLock works
to train law enforcement and partners with a variety of non-profit
organizations to help consumers establish positive habits to combat
this threat.
1 2016 Identity Fraud Study, Javelin Strategy & Research,
February 2016.2 “2016 Willis Towers Watson Voluntary Benefits and
Service Survey, completed by 317 employers representing 9.2 million
employees, November 2015.† LifeLock does not monitor all
transactions at all businesses.‡ Stolen Funds Reimbursement
benefits and Service Guarantee benefits for State of New York
members are provided under a Master Insurance Policy underwritten
by State National Insurance Company. Benefits for all other members
are provided under a Master Insurance Policy underwritten by United
Specialty Insurance Company. Under the Stolen Funds Reimbursement,
LifeLock will reimburse stolen funds up to $25,000 for Standard
membership, up to $100,000 for Advantage membership and up to $1
Million for Ultimate Plus membership. Under the Service Guarantee
LifeLock will spend up to $1 Million to hire experts to help your
recovery. Please see the policy for terms, conditions and
exclusions at LifeLock.com/legal.
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LifeLockBecca Youngs, 415-767-7788media@lifelock.com
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