Masters of Death examines the exploration of life and death through the tension between mortality and immortality. Throughout the conversations with Death and other immortals, the text presents several belief systems and philosophies surrounding life and death. Through this theme, the text explores humanity’s fears about death and the significance of emotionality and love, which set humanity apart.

One of the main ideas surrounding life and death is the immortals’ repetitive reminder that “balance is king” (64). This philosophy attempts to make sense of evil in the world because it postulates that people cannot recognize goodness if evil is not in opposition to it. Although Mayra and Viola point out the inconsistencies in applying this philosophy to every aspect of life, Fox adopts the mindset before he defeats Death in the game. Fox wonders whether it is worth it for mortals to love or if they should try to preserve themselves from further pain while they can. Fox realizes that immortals’ boredom with life stems from the fact that their existence does not end; therefore, they gamble things away, hoping to make existence more interesting. This causes them to feel unfulfilled and aimless, which is why Fox believes that immortality is overrated.