Setting up the suite of emergency features on your iPhone isn't the most fun you'll have with the device, but doing so is highly important. In a crisis, these won't be usable if you haven't taken the time to configure them beforehand. The functionality ranges from contacts that will be automatically notified when something happens to a medical profile that first responders can use to properly help you.
Since Apple added these features to iOS in 2014, medical professionals know to look for them. They may even replace carrying such information in your wallet, since you have your phone on you all the time. To stay prepared yourself, you should also memorize the relevant shortcuts to handle any scenario that develops.
In case you've never set up these features, taking a few minutes now could make a huge difference later. Even if you configured your emergency profile a while ago, some details might have changed so it's a good idea to double check them regularly.