It is not good to hold your coins on exchanges but hold them on a self-hosted wallet. This brings the responsibility of how not to lose your seed phrase because if you lose your seed phrase you will lose your coins.
If there is a natural disaster that flood your town or an earthquake that destroyed the building your seed phrases are, what are the other recovery means that you have in place for you not to lose your bitcoin?
We should backup the seed phrase in a way that no matter what happened, we should still be to have access to the seeds phrase. What are you approaches to make sure that no matter what happened, you will have access to your seed phrase if you are still alive and your brain is functioning properly.
Every investors has one or two fears but the worst is losing your wallet address, somethings are inevitable and natural occurrence with unforeseen circumstances such as war and flood which can happen at anytime , but the only advantage about Bitcoin is that it is a digital asset and not paper currency that flood or fire can destroy without a backup plan , so natural occurrence like accident that can lead to losing of brain , death or coma in such situations I think their should someone you can trust with seed phrase , you can a Swear store it in different places for safety purposes too so when you need to access it , it will be easier if one is still alive and brain is functioning properly.