Once located you will be able to make your device emit a loud noise and show a warning message for a maximum of two minutes. In addition, if it is necessary, you can also block it and leave it temporarily unusable.
Another option is to remotely erase all of your personal data, so that, even though you lose it, you can make sure that you maintain your privacy (at least it's something).
Find My iPhone is one of those applications that you hope you won't need to use, but which is extremely useful.
Compatible with iPhone, iPod touch, and iPad.