Simplest way would be by using character storage in combination with an onDeath system. (That is, if 7.6 supports onDeath, I can't remember)
On bless: Set character variable 1234 to 1. Take money as necessary.
On death: Set character variable 1234 to 0, prevent drops and experience/skill loss as necessary. Update death tables, drop a corpse and teleport character to town. Alternatively let them die, assuming you've either prevented or compensated for the loss of items/exp/skills.