More and more cases of crimes related to identity theft are being reported. According to a research done by the U.S. Department of Justice (Javelin Strategy & Research), the average number of Americans who fall victim of identity fraud annually is 11,571,900. The average financial loss per incident totals to almost $5,000. Identity theft is the term given to a crime where someone else’s personal identifying information is used to commit fraud or make unauthorized transactions.
The most common cases of identity theft are credit card frauds where one uses a credit card belonging to another person in an unauthorized manner. Another one would be cases where someone’s identification details is used without any knowledge or authorization. The potential damage to you in case of identity theft may include:
- Theft of your funds from your bank account
- Extra charges emerging in your credit card
- Claim on your medical benefits and insurance
- Claim on your tax refunds
- Wrongly implicate you in criminal cases
With so many cases of identity fraud emerging every year, it has become more necessary than ever to protect you and your close ones from being victims. Identity Theft Protection could be the answer to your concerns.
Here are reasons why you should get an identity theft protection.
1. Insurance for potential identity theft losses
A lot of identity theft protection schemes cover the losses borne by incidents of identity theft.Upon proving that you are a victim of someone else actually misusing your identity, your loss will be refunded by the insurance company protecting you. For this reason, it is a wise decision to opt for identity theft protection.
2. Puts you in a legally strong position
The court and the police accept records from identity theft protection programs as reliable sources of information. Hence, from the legal point of view, identity theft protection is always a beneficial tool for customers, which will come handy when times are bad.
3. Early warning of the abuse of your identity
Most people realize that their identity has been abused only when it’s too late. However, many identity theft protection programs have built-in mechanisms that are designed to warn customers about potential abuse of identity. For instance, you will be notified instantly when someone is hacking your credit card information or there is an unauthorized use of your credit card.
4. Protection for you and your family
In serious cases of identity theft, not just the victims, but also the family members are affected emotionally and psychologically. After all, most victims who fall prey to this crime would discover all their hard earned cash and their identity stolen. It is definitely a tough situation to be in. But with identity theft protection schemes, you can avoid such incidents from happening.
5. Gives you a sense of security
The fact is plain and simple- identity theft protection gives you the sense of security you need. Today, business and social connections rely on the world wide web. Everyone is vulnerable to scammers and hackers. This is the reason why everyone is advised to be always on the lookout, to never give their personal details, and to never trust unreliable sources asking for your important information. With the identity theft protection program, you can sleep well at night. You are secured that someone is watching your back.
With these reasons, getting your own protection scheme greatly benefits you and your family. Remember, prevention is always better than cure. Do not wait to be victims of identity theft, before you take steps to protect yourself. Apply for an identity theft protection today.