LifeLock’s Million Dollar Protection™ Package: What is it and what does it cover?

Imagine this: you get a LifeLock alert that there has been a large withdrawal from your bank account. The anxiety kicks in: Someone accessed your finances, stole your money, and you fear that more of your personal information has been compromised as well.

As our world becomes increasingly digital, this scenario can be all too real for many people. And while the emotional toll of being the victim of identity theft is high enough, the financial cost of the crime can be even higher.

In fact, according to the 2022 Consumer Impact Report from the Identity Theft Resource Center (ITRC), victims aren’t just out the time it takes to resolve the theft— they’re potentially out of a lot of money as well. Approximately 30% of identity theft victims reported a loss of $10,000 or more, representing a 21% increase from the year prior.

In this article, we’ll take a closer look at LifeLock’s Million Dollar Protection™ Package, how it can help victims alleviate some of the financial impacts of identity theft, and what protection it covers.

What is LifeLock’s Million Dollar Protection™ Package?

The Million Dollar Protection™ Package is included in all LifeLock and Norton 360 with LifeLock plans, and it provides protection against some of the financial impacts of identity theft. If your identity is stolen, LifeLock’s Million Dollar Protection Package offers reimbursement for stolen funds, can help with personal expenses incurred and covers the cost of experts you may need to help resolve your case. The most comprehensive plans include coverage of up to $3 million (explained below) for each enrolled member. 

What does LifeLock’s Million Dollar Protection™ Package cover?

Instead of one bucket of coverage, the Million Dollar Protection Package offers three separate buckets. In LifeLock’s most comprehensive plans, the Million Dollar Protection Package includes reimbursement for stolen funds and personal expenses, up to $1M each. And if you need lawyers or experts to help resolve your identity theft issues, LifeLock will provide them and cover up to $1M of their fees in all plans.  

In other words, you don’t have to choose which loss you want covered over another. Here’s what that looks like:

• Up to $1 Million reimbursement for stolen funds (limit varies based on plan): If you have money stolen because of identity theft, the Million Dollar Protection Package will reimburse you for those losses, based on the limit of your plan.
• Up to $1 Million in compensation for personal expenses incurred (limit varies based on plan): The package also includes compensation, based on the limit of your plan, for qualifying personal expenses you may incur as a result of trying to resolve identity theft, such as lost wages, travel expenses, and child or elder care.

• Up to $1 Million for lawyers and experts (with all plans): If you need a lawyer or other expert to help fight on your behalf to resolve your identity theft issues, the Million Dollar Protection Package will provide lawyers and experts on your behalf and cover up to $1 million in fees for all LifeLock plans.

FAQs

Q: How much does LifeLock’s Million Dollar Protection™ Package cost? A: All LifeLock and Norton 360 with LifeLock plans include the Million Dollar Protection Package. Plans range from $9.99 to $29.99 per month, with the most comprehensive plans including up to $3M in coverage described above. All plans include extensive online protection in addition to the Million Dollar Protection™ Package.

Q: What plans include LifeLock’s Million Dollar Protection™ Package? A: The Million Dollar Protection Package is included in in all LifeLock and Norton 360 with LifeLock plans. The Norton 360 with LifeLock plans are designed to bring the most comprehensive protection for digital devices. The package is not available as a standalone product.

Q: Is identity theft protection worth the cost? A: According to the Federal Trade Commission (FTC), approximately 41.5% of reported victims of identity theft lost $1,000 or more in 2021. We recommend considering the potential financial and emotional costs of identity theft and assessing which level of the LifeLock Million Dollar Protection Package provides the level of protection you need.

Q: How do I sign up for LifeLock's Million Dollar Protection™ Package? A: You automatically get the Million Dollar Protection Package when you enroll in any LifeLock or Norton360 with LifeLock plan.