Just like the title says, Lookout now allows you to remotely wipe your phone if its permanently lost. Also, you can lock the phone if you think there is a chance you might be able to find it. The version that allows all this does cost $30 a year, but given all the info kept on phones these days I think it might be worth it. I'm glad Android finally has an app that allows for a remote wipe, but in my opinion it should have been built into the OS by Google from the beginning.