What is the best identity theft protection plan? There are numerous identity theft protection plans available on the market. The problem is to decide which one to choose, because chances are if you are not careful in choosing the right identity theft protection plan, it may just turn out to be waste of money.

The real cost of identity theft is the loss of ability to get credit for an extended period of time, the time and effort it takes to restore your good name, and many other adverse consequences that can even include mistaken incarceration. Therefore, any good identity theft protection plan not only insure your  

So lets cut the chase and come to the point, below are rankings for three best identity protection plan available in the market.

Number one on best identity theft protection plan list comes LifeLock. LifeLock provids the best identity theft protection plan that I've come across so far. What impresses most is that the CEO of LifeLock stands behind his product so firmly that he will gladly hand out his social security number on the website, which it is a great testimony for his service.

LifeLock is a preventive identity theft service - their sole purpose is identity protection and recovery for you and your family.  LifeLock, employ tools like setting fraud alerts on your credit file with all the tree bureaus. What it means is that every credit agency must call or write you for verification before they can issue new credit. Since most identity theft occurs when thieves use your personal information to open new credit accounts such as bank accounts, credit cards, etc..., fraud alerts aim to prevent identity theft by stopping the fraudulent accounts from being opened in the first place.   

LifeLock also reduces pre-approved credit offers and junk mail with your name on it from circulating, thus reducing your chance of having your identity stolen.

LifeLock has also come up with a service called WalletLock. What it does is, that incase your wallet is lost or stolen, “WalletLock” will provide the complete recovery services necessary to allow you to go on with your life and not spend hours on the phone trying to cancel each credit card and replacing them. WalletLock specialist will contact each credit card, bank or document issuing company, cancel your affected accounts and complete the paperwork and steps necessary to replace your lost documents, including your driver's license, social security card, insurance cards, checkbook, credit/debit cards with no additional cost.

LifeLock provides customer service by phone with 24/7, but with no login services at their site. This may seem litle weird in this information age, but this make LifeLcok system completely hacker-proof, as they claim that very few people at LifeLock ever get near customer data.

LifeLock is truly one of the best out of any of the top companies for identity protection. They guarantee your good name up to $1 million if your identity is ever stolen.

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#2 TrustedID - TrustedID Review

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Price $10/mo or $99/yr individual; $19.99/mo or $189.99/yr family

Second on best identity theft protection plan list comes TrustedID.  TrustedID is an outstanding service that gives LifeLock a run for its money in the filed of identity theft prevention. TrustedID starts with setting fraud alerts (they call this Lender Doublecheck) at all 3 bureaus. They have developed an automated tool to set these alerts, so they happen essentially as soon as you sign up.

TrustedID also removes your name from the marketing databases frequently sold by Equifax, Experian and TransUnion. This stops pre-approved credit card offers - a leading source of identity theft.

With signing up with TrustedID, youu will automatically receive your credit report from Equifax, Experian and TransUnion annually and review your credit history to ensure your identity has not been compromised.

TrustedID also provides credit card monitoring feature that monitors your credit card number to help detect if it has been stolen. You receive an immediate email alert when TristedID finds signs that your information has been compromised, providing an early warning of theft. TrustedID has a pricing structure that make it a particularly good value for large families. The family plan is about twice as much as the individual plan, but you can add everyone in your household, so it makes sense for housholds of more than two people.

TrustedID also offers a service called TrustedID, which makes your credit report at all 3 bureaus unavailable to everyone without permission. with an additional cost $44.95 to lock your credit reports with all 3 bureaus and $39.95 to unlock them - every time! Though this sevice is not recommended for all, but seems to be a good option for those who rarely use their credit, or those who are stationed overseas.

TrustedID is a great preventive identity theft solution and an excellent option for those serious about preventing identity theft. TrustedID's ID Theft Insurance covers you for up to $1,000,000 in costs to recover from identity theft.

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#3 Equifax - Equifax Credit Watch™ Gold with 3-in-1 Monitoring Review

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Price $14.95

Third on best identity theft protection plan comes Equifax Credit Watch Gold 3-in-1 Monitoring Plus Score Power. Though its designed primarily as a service to monitor your credit reports, it also works very well in detecting identity theft.