The first of almost 80 million baby boomers filed for Social Security benefits in October 2007. This individual may also have been one of the first baby boomers to fall prey to identity theft. More and more Boomers are being targeted by identity thieves because of their additional sources of income as well as 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 are prime targets for identity thieves, to turn to identity theft services, such as LifeLock, to keep their identity and finances secure.
Perhaps 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 type of practice leaves baby boomers, and their mailboxes, prime targets for identity thieves. LifeLock’s identity theft protection services seek to prevent boomers from becoming prime targets by removing members’ names from pre-approved credit card mailing lists as well as junk mail lists.
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, LifeLock safeguards boomers from spending excessive amounts of time and money if their identity is stolen through a $1,000,000 full service guarantee. Although most boomers are at the point where they are receiving additional income, their income is barely enough to cover their cost of living. Through LifeLock’s $1,000,000 guarantee, if a thief discovers a weakness in their system and uses it to steal your identity, LifeLock will secure attorneys, investigators, accountants, case managers, etc. to restore your good name and, if you lose money as a result of the theft, they will reimburse you the amount of money that was stolen.
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.