While the life is in the blood is true, it does not necessarily mean that without blood there is no life or that with blood there is always life.
There is plenty of life that exists that has no blood but is living and growing.
Likewise there are bodies of those who have died, which still have blood in them.
By the reasoning of the argument that the life is in the blood therefore a fetus cannot be considered alive because it has no blood, any thing that doesn't have blood in it is not alive, it only has the appearance of life, and then any body which appears to be dead that still has blood in it, can't be declared dead after all, it must be alive.
The *logic* fails miserably.
Good point!