Hi Money Minder,
So, Money Minder, I recently got a scary letter in the mail about my life insurance provider getting hacked. They said my name and social security number were part of the breach. Yikes! I already froze my credit with all three bureaus last month. Should I sign up for the free 24-month identity monitoring and fraud loss insurance they’re offering anyway? What’s the deal with that? Any downsides I should know about?
Thanks a bunch!
Retirement Ready
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Response from THE MONEY MINDER:
Hello There,
I’m sorry to hear that you received a letter informing you about your life insurance provider’s data breach. It’s definitely unsettling to hear that your personal information, including your name and social security number, may have been compromised.
Given that you recently froze your credit with the three major credit reporting bureaus, you’ve taken a proactive step to protect your information. However, enrolling in the free 24-month identity monitoring service and fraud loss insurance offered by your life insurance provider could provide an additional layer of protection and peace of mind during this time.
There generally isn’t a downside to enrolling in these services, as they can help you monitor any suspicious activity related to your identity and financial accounts. It’s always better to err on the side of caution when it comes to protecting your personal information.
As for practical advice, I recommend taking advantage of the free services offered and continuing to monitor your credit reports regularly. Additionally, consider changing your passwords for online accounts and being vigilant about any unusual activity. Remember, it’s better to stay proactive in safeguarding your information.
All the best from THE MONEY MINDER.
