Did you know that the first “baby boomer” filed for Social Security benefits in October 2007? This individual is the first of almost 80 million baby boomers who are expected to apply for such benefits over the next two decades and is, very possibly, one of the first baby boomers who may fall prey to identity theft. 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 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.
LifeLock also protects those boomers who haven’t completely moved into the electronic age by pulling annual credit reports from all three credit bureaus and mailing them to their members. Because some boomers have never “surfed” the net, much less know that they can access their credit reports online; they do not keep a close watch on their credit activity. In addition to pulling credit reports, LifeLock also places fraud alerts on member’s credit files so that lenders must call the member for verification 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.
Another way LifeLock works to protect the identity of baby boomers is through their WalletLock service. Because boomers are more at risk of having their wallets lost or stolen, WalletLock is an invaluable service for boomers. Since boomers prefer to keep their personal documents close at hand, they are more likely to have multiple sources of personal identification in their wallet. LifeLock’s WalletLock service assigns a WalletLock specialist to their members if their wallet is lost or stolen. This specialist 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.
Lastly, a fifth way that LifeLock safeguards boomers from becoming victims of identity theft and having to spend excessive amounts of time and money in restoring their good name and credit is through their $1,000,000 full service guarantee. Although most boomers are at the point where they are receiving additional income, in today’s economy, their income is barely enough to cover their cost of living expenses. Through LifeLock’s $1,000,000 guarantee, if a thief discovers a weakness in LifeLock’s system and uses it to steal a members identity, LifeLock will secure attorneys, investigators, accountants, case managers, etc. to restore an individual’s good name and credit, in addition to the amount of money lost due to the theft.
There is no doubt that baby boomers are prime targets for identity theft. However, through LifeLock’s Identity Theft Prevention services, boomers no longer need to worry about the security of their identity.
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