Ozone is formed when Oxygen atoms normally with the configuration of O2 are exposed to either electrical discharge or Ultraviolet radiation. The layer of Ozone around the Earth helps protect it from the harmful radiations emitted by the Sun. If the sunlight is not filtered by the Ozone layer then it may end up contributing to the global temperatures which would steeply increase and cause several diseases like skin cancer and other ailments. Living on the surface would become extreme and almost impossible for all living species. So, that being the benefit to the planet that we receive from ozone. However, it is very toxic to humans if we are to be directly exposed to Ozone and inhaling it can cause death.