A lost phone is worrisome. You would fear that someone misuse your phone pushing you in serious troubles. I'm not talking about SIM, because you can block that. But what if you have very vital information stored in your phone??! Then definitely it is a serious issue. Prevention is better than cure. First of all implement the following steps:
Ring: You can ring your phone
Lock your phone
Erase all data: This will erase all data but not SD card. Also Android Device Manger wont work if you erase the data
- Go to Settings->Security->Device Administrators->Android Device Manager
- Tap on it and activate it.
- Now if your phone is lost, go to google play store.
- There you can see a gear like button on the top right corner of your page, click on it and select Android Device Manger