I've always seen time as a human construct. It only exists in our mind. And it's not a very perfect way to track changes in our environment. But it does help. Concerning death, it's very possible we're all an illusion. It's possible the life humans live are a game being played by large terrestrial beings on a large screen. When they finish playing they turn off the screen.
Yes it does, because we are incapable of taking in all the information and making any sense of even a fraction of it. We have to compartmentalize and categorize, otherwise we have no point of reference to anything.