This post may contain affiliate links that help support this website.
Dave Ramsey created the Baby Steps method to eliminate debt, but what does he think about lifelock vs zander insurance?
All this serves as a warning. Identity theft is not only becoming increasingly common but also more far-reaching and sophisticated year by year. No matter how cautious you are about sharing or protecting your personal information, with databases constantly under attack, we’re all at risk for identity theft. Thus, Dave Ramsey believes this problem has long stopped being a matter of if, but of when. If you discover that you have been a victim of identity theft, you are not liable. But, the problem with identity theft, says Dave, is not the liability of it. It’s fixing the damage that has been done that’s the real problem.
Cleaning up the mess
The potential effects of identity theft include damaged credit, a criminal record, debt, lost money, and time. So, what can you do to prevent this?
According to Ramsey Solutions, if you discover that you have been a victim of identity theft, contacting the fraud departments of all three credit bureaus is the first important step. Placing a fraud alert on your information is useful in case of a data breach or a Social Security card, driver’s license, or bank account information theft. Next, a credit freeze blocks all access to the sensitive data in your credit files until you unfreeze it. This makes it harder for the fraudster to take on debt in your name. Your next step? Notifying the police and the Federal Trade Commission of your identity being stolen. The FTC will help you not only put together a recovery plan but also communicate with credit bureaus, banks, debt collectors, fraud departments, the police, etc.
To be safe, you’ll also need to comb through your current credit report, along with your bank and credit card statements. Don’t forget that doing this periodically can help you identify potential fraud because you’re on the constant lookout for any suspicious activity, such as a new account you don’t remember opening.
Your next move is to do everything you can to stay ahead of the game. For starters, this means writing to the fake debt collectors, informing them of the identity theft, and requesting any information they might have. A copy of your official FTC report should be enough to back this up. You also ought to reach out to your bank’s fraud department, utility provider, along with any other account fraud department, to let them know that your identity has been stolen. Then, shut down all of the accounts in your name that have been opened fraudulently.
How can you prevent identity theft?
By now, you might be beginning to understand just how long the whole journey could last. Putting things straight again will take you an estimated six hundred hours’ worth of work, as said by Ramsey. If the damage is more severe, it could be months or even years before your life returns to normal. For this reason, it’s always a wise decision to learn the steps you can take to minimize your risk.
Better safe than sorry
Dave Ramsey shares some ways you can prevent identity theft so you can keep yourself and your family safe:
- Check your credit report periodically. In case you notice any odd activity or incorrect data, take immediate action.
- Update your antivirus software. If you don’t want any unwanted guests accessing your PC, regularly check for updates and install anti-keylogger software.
- Use passwords. Always password-protect all of your accounts and devices. Also, be sure to create strong passwords. Don’t use the same one more than once, and change them every 90 days. It also helps if you add an authentication step.
- Be careful with unsecured, public Wi-Fi. Use only your own network when paying bills, going over your bank statements, or doing online shopping.
- Don’t carry anything sensitive around with you. Do you carry your passwords, “PINs”, or Social Security card with you in your purse or wallet? Don’t! When it comes to important documents, you should only have a driver’s license or state ID with you. Relocation can be a subject on its own in this regard since you cannot leave your important documentation behind. Luckily, there are steps you can take to ensure your privacy is protected when moving and that your private information is safe.
- Be alert to phishing and spoofing. Fraudsters can easily make phone calls and emails appear legitimate in an attempt to steal your information. Don’t answer, open, or download anything that seems even slightly suspicious.
- Use alerts. Many financial institutions will regularly notify you about your account activity. Make sure to sign up.
- Monitor financial and medical statements. You need to be able to recognize the details of each and every transaction on your financial statements. Also, don’t forget about medical ID theft. Make sure you know what’s in your medical records, and get explanation-of-benefits (EOB) documents.
The Digital Age and Identity Theft
In today’s interconnected world, the risks of identity theft are higher than ever. With the proliferation of smartphones, tablets, and IoT devices, there are more entry points for hackers. Dave Ramsey often discusses the importance of protecting one’s personal financial information and being cautious about what one shares online. From social media check-ins to online shopping, every digital footprint can potentially be a lead for identity thieves. The evolution of technology is a double-edged sword; while it brings convenience, it also presents new challenges in the realm of personal security. Thus, staying informed and adapting to the ever-changing digital landscape is crucial.
What does Dave Ramsey say about LifeLock?
In a world where ID theft has become a nightmare, $10, $20, or $30 per month on ID theft protection doesn’t seem like much at all. But just like with any other product out there, you need to know what you’re buying. What’s the point of paying to feel safe if your service lets you down? At first glance, the identity theft protection services LifeLock offer appear great. But let’s find out if they’re worth the cost.
The company offers:
- Credit report monitoring, but only if you subscribe to the $30/month plan, their most expensive plan.
- Dark web surveillance. If your sensitive information is found in a dark web criminal database, LifeLock will notify you. But there’s not really much that you can do with this piece of info.
- Lost wallet “protection”, and by “protection”, they mean “a recommendation to cancel credit cards and apply for replacement of your identification.
- USPS Address change verification. If your financial institution fails to alert you of an address change, don’t worry – LifeLock will.
- Credit card, checking, and savings account activity alerts. Simply swap your bank’s website for LifeLock.com, and you can follow your transactions … but on a different website.
- Etc.
In the end, “there’s not a lot of actual protection you can do”
What Dave Ramsey says about LifeLock is the following: “You hear about these highly-advertised identity theft protection places, and they’re not identity theft protection.”. “There’s not a lot of actual protection you can do.”, says he. Even with all these precautions (using strong passwords, not connecting to public Wi-Fi, etc.), there’s no guarantee that your personal information will be and stay forever safe and sound. ID theft can happen virtually to anyone. Staying alert at all times is not the easiest thing to do. This is why having someone in your corner who knows the ropes is crucial.
Understanding the Real Impact of Identity Theft
Identity theft doesn’t just wreak financial havoc; it also has emotional and psychological effects. Victims often report feelings of vulnerability, anger, fear, and even betrayal. Imagine the constant paranoia that comes with knowing someone out there has access to your personal information. The emotional toll it takes can be as devastating as the financial one, sometimes even more. Dave Ramsey also mentions the importance of staying mentally strong and seeking support when navigating the tedious process of restoring one’s identity.
What does Dave Ramsey say about Zander Insurance?
“This is why, many years ago,” says Dave, “I started talking with my friend over at Jeff Zander Insurance about putting together a product that can actually help consumers.” Dave wanted a product that is more than just a fraud alert because, by the time you get a fraud alert, it’s already too late.
That is the reason why Dave Ramsey likes Zander Insurance for identity theft protection. Here’s what Dave Ramsey says about Zander Insurance:
As he explains it, they will actually assign a caseworker to you, a certified specialist, that goes and does all the legwork for you if your identity is stolen.
“The Zander Insurance”, Ramsey adds, “have a 100% success rate in recovering any lost funds. And that’s what you need. Because if you’re going to buy ID theft protection, you need to feel confident that they’re going to actually help you get your life back!”
What You Might Not Know About LifeLock and Zander Insurance
While the features and ratings of identity theft protection services are pivotal in making a decision, understanding the company’s ethos, mission, and history can offer further insights. LifeLock and Zander Insurance have been in the business for a considerable amount of time, but each has unique backstories and missions that differentiate them. LifeLock, for instance, focuses more on technological solutions, leveraging cutting-edge systems to detect and alert to possible threats. On the other hand, Zander places significant emphasis on the human touch, ensuring that victims have personal guidance and support throughout the ordeal. Dave often emphasizes that the most effective protection merges both the technological and human aspects, ensuring a holistic approach to safeguarding one’s identity.
Which is better: LifeLock or Zander?
To someone shopping for ID theft protection, Zander Insurance’s ID theft plan may appear similar to LifeLock. You really have to weigh the pros and cons of both providers. That said, one of the things I really like about LifeLock is that if you use this link, you could save up to 66% in the first year. I also love the Norton has a 4.5 (outstanding rating) according to PC Mag, whereas Zander received a 3.4 rating based on 41 reviews from Best Company.
In the end, however, what Dave Ramsey has to say about LifeLock or Zander insurance may only serve as a helpful reference. Ultimately, it’s up to you to decide what you think is your next move.