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Nearly 80 million baby boomers are expected to apply for Social Security benefits over the next two decades and chances are most of them will either be the target of identity theft or actually fall prey to an identity theft scheme. Because boomers are more likely to draw two incomes, i.e. retirement and social security benefits, thieves are more likely to target their financial resources than that of others. In addition to the extra income, boomers are being targeted by identity thieves because of their tendencies to avoid the internet, to rely on paper checks and paper mail, and to easily fall victim to pre-texting scams. Because of this, it is more important than ever for baby boomers, who, in the prime of their lives, are prime targets for identity theft, to use LifeLock’s Identity Theft Protection Services.

One of the top reasons baby boomers are being targeted by identity thieves is because older boomers (ages 51-60) have not completely moved into the electronic age and still use pen and paper to pay bills and send correspondences. This leaves boomers’ mailboxes prime targets for theft. Because LifeLock removes members’ names from pre-approved credit card mailing lists as well as junk mail lists, LifeLock protects boomers from identity theft and enables boomers, who so choose, to stay in their non-electronic comfort zone.

The second way LifeLock protects boomers, and saves them time and energy, is by pulling annual credit reports from all three credit bureaus and mailing them to their members. Because some boomers have never used the internet and are not aware of how to access their credit reports online; they do not keep as close a watch on their credit activity as younger adults do. LifeLock gives boomers the ability to check their credit report for discrepancies in order to prevent identity theft from occurring. In addition to pulling credit reports, LifeLock also places fraud alerts on member’s credit files so that lenders must call the member for approval prior to issuing credit or loans.

A third way LifeLock protects boomers from identity theft is through their eRecon and TrueAddress services. LifeLock’s eRecon service monitors criminal websites for the selling or trading of social security numbers, credit card numbers, driver’s license numbers, etc. LifeLock’s TrueAddress service detects any changes to a member’s address that may show-up in various national databases. If there is a discrepancy between a member’s name and known address, the member is contacted for verification of the change.

A fourth way LifeLock works to protect the identity of baby boomers is through their WalletLock service. Boomers are more at risk of having their identities stolen through the loss or theft of a wallet. Because boomers tend to keep their personal documents close, in case of emergencies, they are more likely to have multiple sources of personal identification in their wallet. If a member’s wallet is lost or stolen, LifeLock’s WalletLock service assigns members a WalletLock specialist who helps in contacting each credit card company, banking institution, and any state and federal agencies who issue driver’s licenses, etc. to cancel the accounts and begin the process of reinstating missing documents.

The fifth way LifeLock safeguards boomers from worry about identity theft is by easing their concerns about spending excessive amounts of time and money if their identity is stolen by offering a $1,000,000 full service guarantee. Although most boomers are receiving additional income, their income is barely enough to cover their cost of living expenses. Through LifeLock’s $1,000,000 guarantee, LifeLock will hire attorneys, investigators, accountants, case managers, etc. to restore a member’s good name and, if any money is lost as a result of the theft, they will reimburse the member the amount of money lost.

In the prime of their lives, baby boomers are prime targets for identity theft due to additional income, the tendency to use paper vs. the internet and because they can easily fall prey to pre-texters. Through LifeLock’s Identity Theft Prevention services, boomers no longer need to worry about the security of their identity leaving time for more important things, like retirement.

According to the FTC, an estimated 9 million Americans are affected each year by identity theft. Although the federal government has made it possible for each citizen to protect their identity by initiating free fraud alerts, placing their name and contact information on “do not call” or mail lists, and accessing free credit reports, many individuals do not realize that they must continuously request these “free” services. When taking into account the amount of time it takes to repeatedly request these “free” services and the risks involved in forgetting to put these protective measures in place, “free” can turn into thousands of dollars of financial ruin and thousands of hours spent trying to restore one’s good name and credit. When it comes down to it, if time equals money, then nothing is free when it comes to protecting your identity. Fortunately, though, there is an economic way to protect your identity and prevent identity theft through a company called LifeLock. LifeLock’s Identity Theft Prevention services can help you protect your identity and prevent identity theft in six valuable ways.

1. Fraud Alerts - A Fraud alert is a “flag” placed on your credit report that notifies a lender that they must, among other things, verify that you are who you say you are before credit is issued in your name. Fraud alerts are free; however, after 90 days, you must contact the credit bureau and request that another fraud alert be placed on your credit report. LifeLock takes care of requesting Fraud Alerts for you by making sure that alerts are continuously requested every 90 days. Through this service, LifeLock ensures that there are no lapses in Fraud Alerts on your credit report.

2. Do Not Call or Mail Lists - LifeLock protects your identity by removing your name from pre-approved credit card mailing lists and by placing your name on “do-not-call” lists on an annual basis. Identity thieves can easily steal your identity and affect your credit status is by taking pre-approved credit card offers from your mailbox. They can also act as telemarketers and call to tell you that you have won a free trip and then ask for your credit card number in order to pay for the expenses not covered by the award. LifeLock makes it easy for you to remove your name from solicitation lists and prevent this type of identity theft.

3. Credit Reports - Being sure to check your credit report is a good way to help protect your identity. By checking your credit report, you can see if you have had any unauthorized loans or credit cards opened in your name. Although the federal government has made it a law for you to receive a free credit report from each of the 3 credit agencies yearly, the only way to ensure that your credit is checked all year long is to request a credit report from one of the credit agencies every 4 months. This can be very time consuming and cumbersome. LifeLock takes the time and effort out of remembering to pull your credit report by sending you a copy of your credit report four times a year.

4. WalletLock - If you really want to protect your identity, don’t lose your wallet. Of course, that is easier said than done. If you have ever lost your wallet, chances are you have experienced a sense of fear and panic and thought, “What was in my wallet and how do I stop someone from using my credit cards?” With LifeLock’s WalletLock system, there is no need to feel fear or panic if you lose your wallet. Through WalletLock you will be able to identify what was in your wallet and will be assigned a WalletLock specialist who will help you contact each credit card company, banking institution, and any state and federal agencies who issue driver’s licenses, etc. to cancel the accounts and to begin the process of reinstating missing documents.

5. Identity Monitoring -LifeLock provides an additional way of preventing identity theft from occurring through its eRecon and TrueAddress systems. eRecon protects your identity through searching criminal websites for the selling or trading of your personal information and notifies you if such use is discovered. TrueAddress works by detecting any change of address information attached to your name in nationwide databases. You will then be alerted if a criminal tries to steal your mail or obtain your financial information by attempting to change your address. LifeLock also ensures that new bank accounts are not opened in a member’s name by monitoring check systems.

6. Recovering Your Identity - Because criminals find ways around the system, preventing identity theft is not always fool-proof. Because of this, LifeLock offers a $1,000,000 total service guarantee that if someone happens to discover a weakness in their system and uses it to steal your identity, they will provide attorneys, investigators, accountants, case managers, etc. to restore your good name and, if you lose money as a result of the theft, LifeLock will reimburse you the amount of money lost. Todd Davis, CEO of LifeLock, has even been quoted as saying “If you get thrown in jail [because of identity theft], we’ll bail you out of jail.”

Deciding to protect your identity and choosing the way in which you go about protecting your identity is completely up to you. There are ways to protect your identity which will only cost you in terms of time and effort vs. money; however, there is no guarantee that you will recover your money and good name if your identity is stolen. The time, effort and money involved in protecting your identity and in having your identity stolen and credit ruined is incalculable. A smart consumer knows when it is time to ask, “When is free actually “free” when it comes to protecting my identity?” LifeLock’s Identity Protection and Theft Prevention services take the time and effort out of you protecting your identity and backs up their work with a guarantee that any money involved, up to one million dollars, in restoring your good name, credit and money lost if your identity is stolen while you are a member of LifeLock will not come out of your pocket.