Aah ... Samsung does bundle a security app like this, and I do believe it will continue to nag you about it. My wife has the S7 Edge and it freaked her out a little, too. I don't recall whether or not she decided to accept the terms or disable it.
It's not malware, but in my opinion, it's not necessary, either. Up to you.
Really, the only downside would be the extra load a security app would put on your phone (which would be almost negligible) or the possibility of any false positives.
If you ever install apps that don't come from the play store (or other trusted sources) then it might not be a bad idea to enable it, at least for a little while.