Identity Theft Protection for Seniors
Home » Blog » Identity Theft Protection for Seniors

Identity Theft Protection for Seniors

Identifing Theft Protection for Older Adults

Identity theft protection for seniors begins with a proactive approach to safeguarding personal information, empowering our older generation with the knowledge and tools necessary to navigate the digital landscape securely.

Results from the most recent Bureau of Justice Statistics’ Identity Theft Supplement show that nearly 1 in 10 adults aged 65 or older experienced identity theft in the past year, with financial losses totaling $2.5 billion. As seniors become more active online and engaged in various financial transactions, they become potential targets for identity theft. Protecting personal information is crucial to ensuring financial security and peace of mind.

In this blog, we will discuss effective strategies and practical steps that seniors can take to safeguard themselves against identity theft.

How to Prevent Identity Theft in Seniors?

Identity theft is a growing concern in today’s digital age, affecting individuals of all ages. However, seniors are often more vulnerable due to various factors such as limited tech-savviness and potential financial stability. In this blog post, we’ll explore practical strategies to help seniors prevent identity theft and secure their personal information.

1. Educate on Common Scams

Begin by educating seniors on common scams targeting them, such as:

  • phishing emails
  • fraudulent phone calls
  • fake sweepstakes

Awareness is the first line of defense.

2. Secure Personal Information

Emphasize the importance of safeguarding personal information. Encourage the use of strong, unique passwords for online accounts and recommend storing sensitive documents in a secure place at home.

3. Monitor Financial Statements

Regularly monitoring can help seniors detect unauthorized transactions early on. Especially these should be paid special attention:

  • bank statements
  • credit card bills
  • other financial documents

Encourage them to report any discrepancies immediately.

4. Use Credit Freezes

Explain the benefits of placing a credit freeze on their accounts. This adds an extra layer of protection by making it more difficult for identity thieves to open new accounts in their name.

5. Shred Sensitive Documents

Advise seniors to shred any documents containing personal information before discarding them. This includes:

  • old bank statements
  • medical records
  • credit card offers

6. Be Cautious Online

Remind seniors to exercise caution when sharing personal information online. Stress the importance of verifying the legitimacy of websites before providing any sensitive details.

7. Keep Software Updated

Encourage regular updates of computer software and security programs. Outdated software can be vulnerable to cyber attacks, and staying current is crucial for online safety.

8. Use Two-Factor Authentication

Guide seniors through the process of enabling two-factor authentication on their online accounts. This extra layer of security adds an additional step to verify their identity.

9. Stay Informed About Scams

Keep seniors informed about the latest identity theft scams. Share information on new tactics used by fraudsters and provide tips on how to recognize and avoid them.

10. Review Social Media Settings

Assist seniors in reviewing and adjusting privacy settings on social media platforms. Limiting the amount of personal information visible to the public reduces the risk of identity theft.

By implementing these preventive measures, seniors can significantly reduce the risk of falling victim to identity theft. Empowering them with knowledge and practical steps ensures a safer and more secure online and offline environment. Remember, staying vigilant and informed is key to protecting personal information in today’s digital landscape.

Top 3 Identity Theft Protection Services For Seniors

Top 3 Identity Theft Protection Services For Seniors

1. Auro

PROS:

  • Real-time credit inquiry alerts from each major bureau
  • VPN, antivirus software, and password manager included in all plans
  • 24/7 US-based case managers and customer support
  • 60-day money-back guarantee on annual plans

CONS:

  • Varying cybersecurity features across operating systems
  • Basic plan priced higher than competitors

Aura‘s plans are tailored for individuals with an extensive array of personal tech devices, offering an economical solution for both ID theft protection and cybersecurity software. The Individual plan extends coverage to ten devices, and this allowance scales accordingly with the Couple and Family plans. With the Couple plan covering two members and the Family plan accommodating five members, users have the flexibility to secure a total of 20 or 50 devices, making it a comprehensive and cost-effective choice for safeguarding multiple devices within a household.

Highlights

  • Plan costs: Starting at $12 per month
  • Trial period: 14 days
  • Three-bureau credit monitoring: Yes
  • ID theft insurance: Up to $1 million per adult for eligible losses and fees
  • Family Plan Available: Yes

2. Identity Guard

PROS:

  • Utilizes artificial intelligence (AI) for rapid identification of potential identity threats.
  • Access to US-based case managers around the clock, providing assistance with identity recovery.
  • Risk Management Score evaluates the level of identity fraud risk.
  • Mid-tier plan includes three-bureau credit monitoring and monthly credit score reports.

CONS:

  • Credit reports are only accessible with the most expensive plan.
  • Entry-level value plan lacks credit monitoring services.

Identity Guard is an ideal service for those who are at a higher risk of identity theft, such as seniors or past victims of theft. One of its standout features is the scanning platform, powered by IBM Watson, an advanced AI system capable of detecting fraud patterns and assessing a consumer’s level of risk for identity theft. By leveraging IBM Watson’s capabilities, Identity Guard helps to proactively alert and protect its customers against potential identity theft threats. Identity Guard’s use of advanced AI technology enables the company to send alerts to its customers at unprecedented speeds.

Highlights

  • Plan Costs: Starting at $6.67 per month
  • Trial period: No free trial; 60-day money-back guarantee on annual plans
  • Three-bureau credit monitoring: Yes
  • ID theft insurance: Up to $1 million for eligible losses and fees
  • Family Plan Available: Yes

3. LifeLock by Norton

PROS:

  • Comprehensive bundle with Norton device protection, cloud storage, and VPN services.
  • 60-day money-back guarantee offered with an annual membership.
  • Access to 24/7 live customer service support.
  • Simple and user-friendly interface for easy navigation.

CONS:

  • Credit monitoring service and reports are generally limited to one bureau on most plans.
  • Plan rates experience an increase after the initial year.

LifeLock by Norton is particularly effective when combined with Norton 360, a comprehensive cybersecurity suite that offers a range of protection against both current and emerging cyber threats. By bundling with Norton 360, users can benefit from features such as antivirus and malware protection, parental controls, a password manager, and a VPN. The number of devices covered by these features will depend on the specific plan chosen. This combination provides users with multiple layers of security to safeguard their personal and financial information.

  • Plan Costs: Starting at $7.50 per month
  • Trial period: No free trial; 60-day money-back guarantee on annual plans
  • Three-bureau credit monitoring: Yes
  • ID theft insurance: Up to $1 million each for lawyers and experts, personal expense compensation and stolen funds reimbursement
    Family Plan Available: Yes

Why the Identity Theft Protection Is Important for Seniors?

Why the Identity Theft Protection Is Important for Seniors?

Identity theft protection is crucial for seniors as they are direct targets. Seniors are more likely to have accumulated savings and assets, and they may be less tech-savvy than younger generations. This makes them more susceptible to falling for scams and frauds, giving away their personal information, or unknowingly downloading malware onto their devices.

Here are some bullet points outlining the importance of identity theft protection for seniors:

  • Assets: Seniors are more likely to have accumulated savings and assets, making them attractive targets for fraudsters.
  • Tech-Savviness: Seniors may be less tech-savvy than younger generations, making them more susceptible to falling for scams or unknowingly sharing sensitive information.
  • Health Problems: Seniors may already be experiencing health problems, and identity theft can exacerbate these financial difficulties.
  • Increased Risk: Senior citizens may be at higher risk of having their personal information compromised due to security breaches in healthcare and government systems.
  • Consequences: Identity theft can lead to ruined credit, loss of assets, and immense stress and anxiety for seniors.
  • Overall Well-being: Protecting seniors from identity theft is essential for their financial security, physical and emotional well-being, and overall quality of life.

Protecting against identity theft is a critical part of maintaining financial security and preserving personal well-being for seniors. By adopting these proactive measures, such as strengthening passwords, monitoring accounts, staying informed about scams, and prioritizing online security, seniors can significantly reduce their vulnerability to identity theft. Remember, prevention is key, and staying vigilant in safeguarding personal information is a small price to pay for peace of mind.

To learn more about avoiding fraud in seniors, be sure to visit our informative blog. Gain valuable insights and helpful tips to protect your loved ones from identity theft and financial scams.

Sources

1. The Best Identity Theft Protection for Seniors: 7 Options – Identitiy Guard

2. Best Senior Identity Theft Protection – Safehome.org

Similar Posts