Lich's Mastery + another "You can't lose" effect | tcgmode

My question is really about the fourth line of text on Lich's Mastery and the phrasing "for each 1 life". If I were to have another effect in play that says "You can't lose the game" and I lose some amount of life > 1, would I be able to chose Lich's Mastery to exile for the first point of lif...