According to Osho, neither life nor death is the observer; both are events appearing to consciousness. Your real nature is the witnessing presence beyond all dualities—eternal, not merely immortal—passing through birth and death yet untouched, like a lotus in the pond. Recognize this 'original face' and fear dissolves; identification drops; serenity remains.
You're the quiet watcher, like the sky, while life and death are passing clouds.