No! You want hardcore!? how about this, when you die your character dies for good! Or your account gets deleted!! That will make you not want to die!!!
Joke aside.. I would not like this at all, dying is a part of learning the game.. you find out what should not be done, punishing people to re level is dumb. Do not add it or add it to a 'Hardcore' server, where exp gains are lower and Xp loss and de level on death. Having that will show you just how many like it, and maybe show you how many more hate it.