I had this exact problem on my machine and my wife’s machine. I Googled but the suggestions I found were no good.
I did eventually solve the problem. I had a USB thumb drive perminantly attached to my computer that I use for ReadyBoost. I disabled ReadyBoost, disabled the USB drive in device manager, and I was able to run the LifeGuard tool without the BEX error. I have previously setup ReadyBoost on my wife’s computer as well so I would assume that disabling/removing that USB thumb drive will also fix the same problem.
So my suggestion to you is to troubleshoot by removing any other types of USB Storage or even USB media readers that this LifeGuard tool cannot scan. I believe if LifeGuard detects any storage type device that it cannot scan, it will just crash. The program should have been designed with error handling to ignore these devices instead of allowing the program to simply crash.
I signed up for this forum simply to provide this solution, so I hope this helps you and everyone else that may find this useful!
