Definition

A dedicated fund to help cover expenses if your personal data is compromised. It eases the financial strain when dealing with cybercrime incidents.

What to consider

  • Understand the services provided (e.g., credit monitoring, recovery assistance).
  • Review coverage limits and costs.
  • Ensure prompt response times in case of identity theft.

Real world scenarios

  • An individual enrolled in an identity protection plan that monitored for fraud and provided recovery services.
  • A business offered identity protection to its employees as part of a benefits package.
  • A family secured an identity protection plan after experiencing a minor data breach.

Related terms

Insurance & Financial Protection