Why do I need Identity Theft Insurance?

Identity theft is the largest growing crime in the United States. The Federal Trade Commission estimates that 1 in 10 people will be a victim of identity theft- approximately 9 million people this year. These numbers are continuing to rise. It's important in this day and age to be proactive to protect your identity. It's good to shred your mail and personal documents however, it isn't enough. I have some other links that will talk about deterring identity thieves and protecting your identity as well as Identity Theft Shield. Identity thieves are become more resourceful and, as consumers, we need to improve our techniques as well. We have to be actively working to maintain the security of our personal information.
5 areas of Identity Theft:
Driver's license identity
Social security identity
Medical identity
Character or criminal identity
Financial identity
Driver's license identity theft is when someone steals your driver's license identity. They can commit a driving offense or a DUI or DWI in your name. This information will appear on your driver's license record- leaving you to deal with the consequences. Fines and court proceedings would continue to build up on your record since you are unaware of the offense.
Social security identity is when your social security number is being used by others for a variety of reasons whether it be to earn money and not pay taxes or falsely claim benefits checks from your social security identity. It could affect your future social security benefits or ability to receive a refund from the IRS.
Your medical identity can also be compromised. They can steal your insurance benefits or run up huge medical bills receiving services under your social security number. Considering insurance, some insurance carriers have lifetime caps for costs, someone could potentially run up your total resulting in your coverage being affected. Their diagnosis' could end up on your medical record which could impact your health care treatment due to inaccuracies in information.
Character or criminal identity theft is where someone assumes your name and/or social security number and commits a crime in your name. Again, leaving you to deal with the legal and financial consequences.
Your financial identity can be compromised and debts could incur if the take out a loan or open a bank account in your name. The financial identity theft is becoming a very big issue for people as some banks begin to enforce what they call Regulation E- requiring you to pay the debt even though you did not create it, did not sign a single document and did not get the benefit or money.
I've listed the 5 types of identity theft however, people don't realize that your children's identity can be stolen as well. They may not realize until many years later when they are applying for student loans or trying to purchase a car.
It is important to learn more about identity theft and be aware of the areas of your identity that can be compromised. The next step is deterring thieves from getting your personal information and protecting yourself ongoing.
One of my favorite quotes: "The most common way people give up their power is by thinking they don't have any"- Alice Walker
For more information about identity theft prevention and restoration services- check out:
http://www.squidoo.com/identitytheftrestorativeservices