He may be wrong about that.
3 seconds sound clip from the A Bug's Life movie soundboard.
You can hear this line at 01:33:45 in the Blu-ray version of the movie.
Quote context
[...]
- Then they had the strength they'd need.
- To get through stormy weather.
- It's the time of your life, so live it well. (7)
- It's the time of your life, so live it well. (8)
- You may only go round one time as far as I can tell.
- It's the time of your life, so live it well. (9)
- Believe me, It's the time of your life, so live it well.
- It's the time of your life, so live it well. (10)
[...]