The Lock Cam feature is available for those with a front-facing camera on a phone running Android 2.3 or higher with the lock screen enabled. Right now, you must be a premium member to use Lock Cam although Lookout says it will be added to the free version of the app sometime in the next week.
Lookout also has added a new feature for its paying members ($2.99 month/$29.99 year) that lets users write a message of up to 300 characters on their Lookout Lock Screen that tells those who might find the phone, where to return it to. If you've ever had the misfortune to have had your phone stolen or lost, you probably realize how useful the Lookout app can be.
source: Lookout via PCMag