Do you really need Identity Theft protection?

Click here for my national article about Identity Theft Protection on EzineArticles.com

First let's ask a simple question.  What is identity theft protection and do you think that it is only referring to your credit cards?

It is the protection of someone obtaining the personal or financial information of another person for the purpose of assuming that person's name to make transactions or purchases.

According to a Federal Trade Commission identity theft survey conducted in 2003, 1 in 8 people had their identity stolen in some form during previous 5 years!  

• 27.3 million Americans have been victims of identity theft in the last five years, including 9.91 million people or 4.6% of the population in the last year alone.
• In the past 12 months, 3.23 million consumers or 1.5% of the population discovered that new accounts had been opened, and other frauds such as renting an apartment or home, obtaining medical care or employment, had been committed in their name. 6.6 million experienced their existing accounts compromised by an identity theft. A total of almost 10 million individuals were victims of identity theft.
• 52% of all identity theft victims, approximately 5 million people in the last year, discovered that they were victims of identity theft by monitoring their accounts.

Still not convinced that you need identity theft protection?  Read on....

What about your health care information?   If someone were to get a hold of your medical records and your insurance card they can enjoy the fruits of your lifetime health care benefit.  I know this because I work in health care in a University setting. We had an instance where thieves broke in to one of the adjacent offices in the area that I work in and stole several personal computers.  By the way, there was electronic Protected Health Information (ePHI) on it!  Remember when the VA lost a laptop a few years ago?  Point made.

Now, I underlined the word "transactions" above to make another point.  This could mean ANY kind of transaction!  What if someone stole your driver's license and super imposed their picture on it and then received a DUI with your license number?  Sure they posted bond and then disappeared only to leave you (the rightful owner of the driver's license) to get arrested because he did not show up for court.

Above are two more instances (other than the obvious ones of SSN or credit Identity Theft) that mean it is now more important than ever to ensure that you have identity theft protection in force.

Here are some preventative measures that you can take to protect you from identity theft:

• First and foremost, check your credit report often!  Purchase a service that monitors it for you regularly. You cannot afford not to have Identity Theft Protection!  (See the link at the bottom of this page)
• Invest in a fireproof safe large enough to lock your important financial and identity documents in.  This is also a good place to store all of your personal identification (PIN) numbers and passwords.
• Photocopy all credit and identification cards (front and back) you carry with you and store in your safe. This will greatly assist you if you need to report them stolen.
• Shred all pre-approved credit card and loan applications. When you put the flag up on your mail box or take your trash out, a thief could be waiting to plunder through it. 
• Shred your your credit, debit, and ATM card receipts when they are no longer needed.
• Shred your bank statements and any tax documents when they are no longer needed.
• Shred paycheck stubs and W-2 forms that contain your social security number and your name and address. This will keep it Limit the number of credit cards or accounts you have and close any inactive accounts.
• Shred all checks immediately when you close a checking account. 
• Reconcile your check and credit card statements regularly.
• Double check your utility bills to make sure the charges are yours and not someone wanting to get a free ride.
• Never give any important information out like your address, drivers license, credit card, bank account, date of birth or social security number to anyone you don’t know over the telephone.
• Don't give away too much personal information on your family, MySpace, Facebook or other social web site.  Monitor so that your children do not as well. This is a good rule of thumb to protect their privacy and protect your identity.
• Safeguard your mother's maiden name since this is used for verification purposes for credit accounts.
• Never leave your purse or wallet unattended anywhere and never leave them in open view in your car, even when locked!

Find out how you can get the protection you need from the leader in Identity Theft protection (Pre-Paid legal Services) below.

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