LifeLock called me today!

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Today I got a phone call from one of the Vice-Presidents at LifeLock. I've shared my opinion on LifeLock here and here. To sum it up, I think that LifeLock offers little value in its services. Does it provide something to its paying customers? Yes. Is it worth the money the customers pay? No.

Even worse, the company touts this $1 million guarantee that I happen to believe isn't worth the paper it's written on. Attorneys have claimed that the guarantee is worthless because it doesn't guarantee to repair your credit. They say LifeLock will only repair your credit if damage to it is a result of a defect in their service. (Good luck proving a defect!)

So why did LifeLock call me? Not because they read WalletPop. But because they read my personal blog and someone realized that I was an "affiliate" of LifeLock. Yes, you read that correctly. Shortly after LifeLock came on the market, I signed up to be an affiliate for the company, hoping to market their services on my website because they seemed valuable. I was wrong. I soon decided that the services weren't worth the fees customers were paying, and I never sold one membership. Not even to myself.

But LifeLock wanted to take the time to "educate me" on their services. Because surely I am just an ignorant know-nothing who just hasn't taken the time to understand all that LifeLock has to offer. (Sounds strikingly similar to what we hear from multi-level marketing promoters who just think everyone opposed to their pyramid schemes is ignorant.) Heck, I even got invited to go to Phoenix and visit with Todd Davis. I declined. I don't need to waste a day confirming what I've already researched.

Unless of course they want me to come visit in the dead of winter....

Tracy L. Coenen, CPA, MBA, CFE performs fraud examinations and financial investigations for her company Sequence Inc. Forensic Accounting, and is the author of Essentials of Corporate Fraud.
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