Smartphones, with their multipurpose functions have slowly taken over our lives. You can use a smartphone to make and receive calls, click photos and videos, mobile banking and store passwords and other confidential information. It has replaced several gadgets such as alarm clocks, cameras, desktop computers and so on. Gone are the days of one function products. With just a single swipe of your smartphone, you can complete a number of tasks at lightning fast speeds. Due to the indispensable nature of a smartphone, it is important to ensure that your information is always protected in case of any mishap. As technology progresses, so does the threat of hackers, system malfunctions and damage of handset. Theft of phones has become commonplace and can be a huge loss due to high prices of smartphones. Purchasing a new phone or repairing it can be a costly affair. Regaining lost information or formatting a phone can result in large expenses and loss of time.