Identity theft victimizes millions of Americans each year and can happen in any number of ways, making fraud detection more important than ever. Unfortunately, the problems that stem from these incidents are often somewhat complicated – and costly – for victims to deal with.
As the threat grows larger, more companies are recognizing the impact such crimes can have on their employees and want to do all they can to lend a hand. The answer is as simple as adding identity theft protection to their employee benefits, effectively helping their employees protect themselves.
Adding identity protection to employee benefits
With thousands of data breaches happening across the U.S. each year, potentially exposing millions of pieces of sensitive information, many workers may be worried that they’re at risk for being victimized. Often, that concern plays out as financial fear; the idea being that they might lose thousands of dollars or more if identity thieves gain access to their personal or account information. Unfortunately, those concerns can create distractions at work.
When companies provide their employees with a subsidized, low-cost option to increase their identity theft protection on an ongoing basis, it provides a number of benefits. First and foremost, these services may help to reduce risks for workers before they’re victimized. Moreover, those who do end up being affected by identity theft will have access to the tools they need to react and recover with the help of a trusted services.
Many companies already offer other financial benefits like retirement packages and insurance, so adding a voluntary employee benefit like identity theft protection is a logical extension of that same principle.
What’s included with these benefits?
With Identity Guard Business Solutions, companies can offer one of two types of identity theft protection employee benefits plans, Essentials and Total Protection.
Both products will give employees the same basic protections, including Social Security Number monitoring and alerts whenever someone attempts to use employees’ personal information to apply for a new credit card or make address changes. These employee benefits will also include assistance when identity theft occurs, lost wallet protection, and even identity theft insurance that covers losses up to $1 million**.
In addition to all that, the Total Protection plan provides employees with address change monitoring, automatic monitoring of credit profiles from all three of the major credit bureaus, as well as regular credit report and credit score* updates each quarter. In addition, employees will have public record monitoring, as well as access to encryption and anti-virus software to further provide robust protections. They will also be able to access their Identity Guard accounts via a mobile app for either iOS or Android.
What happens when you sign up?
Once employers have added the plan of their choice to their employee benefits, companies will receive codes they can then distribute to their employees and they can then use to sign up. Companies will not need to provide any information on their workers at the time they sign up, but rather pertinent information about the organization and payment details.
Identity Guard Business Solutions can help expand your voluntary employee benefits by adding a plan that can help employees proactively protect themselves and their identities. Learn more about how to add identity theft protection and fraud detection to your benefits today!