In today’s technology-driven world, identity theft is no longer a rare occurrence. It is a growing threat that affects millions of Americans each year. Although emerging technologies have improved our lives in many ways, they have also created new opportunities for bad actors to steal personal information with alarming ease.
While employers have traditionally focused on benefits like health insurance and retirement plans, identity protection has recently begun to receive attention as a key component of financial wellness.
At Amalgamated Life Insurance Company, we recognize that supporting working people and their families means addressing the full spectrum of financial wellness. That is why we offer identity theft protection from IdentityForce®, a TransUnion® brand, as a voluntary benefit. It’s a robust identity protection solution designed to help safeguard your employees’ personal and financial security.
Why Identity Protection Matters in the Workplace
The toll of identity theft is staggering: victims report an average loss of $1,160, spend up to 6 months+ restoring their identity, and often experience significant emotional distress.
The emotional and physical impact of identity theft can be significant, especially when it comes to stress and anxiety. When employees are affected, these personal challenges can interfere with their work performance, leading to lower levels of productivity, increased absences, and even employee turnover.
The workplace impact of identity theft is only part of the problem, as many breaches originate from everyday mistakes that could be avoided. An estimated 95 percent of data breaches are caused by human error, such as credential misuse and other user mistakes. Even with an awareness of the risks, many people continue to reuse passwords or make only minor changes to them. These behaviors put not only individuals at risk but also the organizations they work for.
Given these challenges, it is essential for organizations to equip their employees with the knowledge to practice strong cyber hygiene and the tools to respond effectively if an incident occurs.
A High-Value, High-Impact Benefit
Offering identity protection is not just a nice-to-have; it is a strategic advantage that employers increasingly recognize as a valuable addition to their benefits package.
With Identity Theft Protection from Amalgamated, employees gain access to a powerful suite of tools and services, including:
- Dark Web Monitoring and Compromised Credential Alerts
- Bank, Credit Card, and Investment Account Monitoring
- Medical ID Fraud Protection
- Social Media and Child Identity Monitoring
- $1M to $2M Expense Reimbursement Insurance
- 24/7 Support to Report Identity Incidents
These features help prevent identity theft and provide peace of mind and financial resilience should an incident occur.
Supporting Financial Wellness Holistically
Financial wellness is not just about saving for retirement or managing debt, it is about feeling secure in your financial life. Identity theft can derail even the most carefully laid financial plans. By offering identity theft protection coverage, employers empower their workforce to take control of their digital lives and protect their financial future.
Employees also benefit from tools like:
- Credit Score Tracking and Simulators
- 401(k) and HSA Monitoring
- Password Managers and VPN Protection
- Mobile App Access for On-the-Go Security
These features help employees build better financial habits while staying protected from evolving cyber threats.
A Safer Future Begins with a Smarter Approach
As the digital landscape continues to evolve, so do the risks facing your workforce. By integrating identity protection into your benefits offering, you are helping employees stay ahead of threats and maintain control over their financial lives. It is a proactive step that reflects a deeper commitment to their overall well-being.
This commitment is at the heart of our mission. At Amalgamated Life, we are dedicated to helping working people and their families achieve financial security by providing affordable life, health, and pension products and services. Offering identity theft protection is one more way we fulfill that mission, by protecting not just income and savings, but the very identities that support a secure financial future.
For us, protecting people is more than a policy, it is a promise. That promise includes helping them stay safe, secure, and supported in every aspect of their lives.