Identity theft is a growing problem, and it can happen to anyone, regardless of their age, gender, or financial status. When someone’s identity is stolen, it can have serious consequences, including financial losses, damage to credit scores, and even legal problems. That’s why it’s important for people to take steps to protect their identities, and one way to do that is by getting comprehensive identity theft protection.
Many banks and credit card companies offer free identity theft protection as a perk for their customers. While these free offerings can provide some basic protection, they often fall short when it comes to providing comprehensive coverage. Here are some reasons why people need more than just a free offering from their bank:
Limited coverage: Free identity theft protection from banks typically only covers basic services, such as credit monitoring and alerts for suspicious activity. These services may be helpful, but they don’t provide complete protection. For example, they may not cover identity theft that occurs outside of credit transactions, such as medical identity theft or criminal identity theft.
Lack of resolution services: If someone’s identity is stolen, it can be a complex and time-consuming process to resolve the issue. Comprehensive identity theft protection services typically include resolution services, which can help victims of identity theft navigate the process of restoring their identities. These services may include assistance with contacting creditors, disputing fraudulent charges, and filing police reports.
Insurance coverage: Comprehensive identity theft protection services may also include insurance coverage to help victims of identity theft recover financial losses. This coverage can be especially important for people who have significant financial assets, as it can provide a safety net in the event of a major identity theft incident.
Identity theft prevention: In addition to monitoring and resolving identity theft incidents, comprehensive identity theft protection services may also offer tools and resources to help people prevent identity theft from occurring in the first place. These may include education about common identity theft scams and advice on how to protect sensitive personal information.
In summary, while free identity theft protection services from banks can be a helpful perk, they often fall short when it comes to providing comprehensive protection. To truly protect their identities, people should consider investing in a comprehensive identity theft protection service that offers more robust coverage, resolution services, insurance coverage, and identity theft prevention tools. In the long run, the cost of these services is often outweighed by the peace of mind that comes with knowing that one’s identity is well-protected.
