Identity theft is a growing concern for Americans — and now there’s a benefit offering specifically targeted at helping them protect their retirement nest egg.
The offering, LifeLock Benefit Elite, helps detect potential fraud and brings it to the attention of employees through alerts within the company’s network via email, text or phone. It claims to help protect 401(k) and other investment accounts from fraudulent withdrawals and balance transfers, though it does not cover all transactions.
The firm says it was created specifically for employers and brokers to offer as a benefit for employees.
As with its other identity theft guarantees, if an employee becomes a victim of identity theft while a LifeLock member, LifeLock says it will spend up to $1 million to hire the necessary lawyers, accountants and investigators to help with recovery.
