This is just a simple thought put into a post. If you refer to
http://elementscommunity.org/forum/index.php/topic,5039.0.html or
http://elementscommunity.org/forum/index.php/topic,26252.0.html for your post, not only would the post have more quality to it, but it would boost the appeal of your idea and provide more information about what you are creating --- along with helping other posters come up with comments to refine your idea.
as far concept: i think this as a permanent (i assume is what you meant it to be) would bring a new ploy to death's table, however the costs or life amount could be balanced better. For 3/5 imo it could be -2life and -3life +1life to you, seeing as how death isnt really big on gaining life as is. also, this would interesting if it was -1 life and -1/+1 life with effect on a creature entering either side of the field (imo, this would be 3/4 or 3/3 cost)
other thoughts: this card would work better as a creature to balance death the element itself, as how there are already lots of noncreature cards --- and the creatures it does have are limited to their reliable power (1 heavy hitter, 2 midranged if recluse is upped). this card could be a low power creature that provides another strong source of damage (at least against creature-filled decks).