Yes I have a paper backup of the word list.
However I tried testing it by restoring this to another phone with Mycelium installed on it and it appears to restore fine but from what I saw all that did was to set up an account on the new Mycelium wallet with my original address and with the BTC balance on it. It didn't remove the BTC from the original phone, it just exists on both. So what's to stop the person with the lost phone from spending them?
Whilst I'm interested in the answer to this, it doesn't really address how secure the lost phone is - I might not notice the phone being lost for a while for instance.
Try to think of this. Your phone is maybe 100$ or up. If the value of bitcoin stored on that wallet is quite big or let's say if you know the value of bitcoin in the future you must transfer your bitcoin to another wallet ASAP! It's just that you lost your phone and don't let yourself lose your bitcoin for whatever it's value you just need to minimize your lose. It's the most basic. Cheers to you getting your account again. Minimize the lose