When you shop for identity protection services you may see some bold claims like a million dollar guarantee or an identity theft insurance policy. MyProfyle does not offer insurance (although some of our partners may) and you may wonder why that is. Unfortunately, identity theft insurance is not what you think it is, and the best way to illustrat3e this is with a comparison. If you have life or disability insurance, your family receives a cash benefit if you are injured or killed. Alternatively, if you have home or auto insurance, these items are replaced if they are damaged or destroyed. But identity theft insurance neither pays you a benefit if your identity is stolen nor can it buy you a new identity, so what are you getting?
What you get with identity theft insurance is reimbursement for expenses you should not incur in the first place. When identity theft strikes, do you want to be told to fix the problem yourself and submit your expenses or do you want someone to resolve the problem for you? The answer is obvious and with MyProfyle service plans that include restoration, we do the work for you. Consider the major benefit claims of a typical identity theft insurance policy:
Truth: You are already protected against these damages under federal law. It is the financial institution’s responsibility to reverse any fraudulent activity with you existing bank accounts. Your liability for false credit card charges is limited to $50, and credit card companies rarely ask you to pay it.
Truth: If you use a reputable service like MyProfyle, a dedicated service manager is assigned to oversee the response to any identity theft issue you face. Our members do not need lawyers because the law is on their side and the burden of proof is not on them. So why would you need coverage for legal costs that you will not face or case management costs that are already covered? It really makes you wonder how effective their fraud resolution services are if they need to rely on lawyers and outside experts.
Truth: Alright, think about what they are saying. Are you supposed to take time off work, travel and face all these other expenses if identity theft strikes? Why do you need to do all this work? You enrolled in an identity protection service so they would do the work.
The worst part of insurance may not be that you are paying for something you don’t need or worse still, that you need it and have to take on all this work and expense yourself. No, instead adding insult to injury is the fact that you may not be eligible to make a claim at all because many insurance policies require you to file a claim soon after the identity fraud takes place, but you may not uncover the fraud for months or years. When you do, you may find that it is too late to make an insurance claim.
The best insurance is not needing it in the first place. At MyProfyle we help stop more types of identity theft, provide better managed restoration services and restore your identity quickly and with minimal time, effort or stress on your part. That is what we would want someone to do for us, so that is what we do for you. Full service, honest benefits, real protection – only with MyProfyle.