Acharya Prashant explains that the fear of death is not actually a fear of the unknown, but a fear of losing what one currently possesses. He clarifies that since no one has experienced their own death, they cannot truly fear it; rather, they fear the cessation of life as they know it. This fear is centered on the ego, which identifies itself through thoughts, habits, relationships, and possessions. The speaker emphasizes that death, for an individual, means the end of the 'I' as it currently exists. He suggests that the remedy for this fear is to find something that cannot be taken away, which begins by deeply accepting the transient nature of everything we own.